Seoul: Stocks, won slump on edginess over possible Fed rate hike

South Korean shares and the won sagged early on Monday on increased worries the Federal Reserve will hike US rates in September.

The Korea Composite Stock Price Index (Kospi) was down 0.5 per cent at 2,046.04 points as of 0212 GMT.

The won was quoted at 1,124.1, down 0.6 per cent compared with the previous close of 1,117.6. It touched 1,126.5, the weakest level since July 28.

Concerns about the Fed have increased ahead of its annual retreat in Jackson Hole, Wyoming, which begins on Thursday.Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg

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Seoul: Won falls sharply, stocks dip

The South Korean won fell nearly 1 per cent on Friday, giving up gains from earlier in the week even as the dollar wallowed at close to twe-month lows.

The won stood at 1,116.7 as of 0217 GMT, compared to Thursday's close of 1,107.2.

"There is no special reason for the won's sharp fall. It seems like the investors are deciding to sell the currency just because they view the won isn't likeley to strengthen anymore,"said Jung Sung-yoon, a foreign exchange analyst at Hyundai Futures.

On a weekly basis, the won was set to decline 1.2 per cent, snapping three consecutive weeks of gains.Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg

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Singapore shares close lower on weak Wall Street, soft oil and Swiber's woes

THE global post-Brexit rally appears to be fast running out of puff - on Tuesday, the Dow Jones Industrial Average which set several all-time highs last month, fell for the seventh consecutive session, no doubt a factor behind the Straits Times Index's (STI) 29.09 points loss on Wednesday at 2,827.58.
From June 27, two trading days after Britain voted to leave the European Union, the STI had jumped from 2,729 to 2,945 on July 20, a gain of 216 points or almost 8 per cent in less than a month.

That rally has widely been attributed to faith in the Bank of England and Bank of Japan providing liquidity support for their economies via their markets, and on the US Federal Reserve delaying raising US interest rates.

Since then, a combination of weak oil, a loss of confidence in the potency of central bank action and locally, the shock bankruptcy of offshore and marine (O&M) company Swiber Holdings have taken 118 points or 4 per cent off the index, dragging it 1.9 per cent into the red for the year so far.Also contributing to Wednesday's softness was a steep slide in Hong Kong where the market played catch-up after being closed on Tuesday because of a typhoon, and a weak day for the Dow futures that raised the possibility that the US benchmark could fall for an eighth straight day on Wednesday.

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Dow, S&P 500 close lower as oil prices drop

The Dow Jones Industrial Average and S&P 500 Index closed lower Monday as oil prices slipped, while the Nasdaq Composite Index finished at its highest level in more than a year. The Dow industrials closed down 27.73 points, or 0.2%, at 18,404.51, weighed by more than 3% drops in shares of Exxon Mobil Corp. and Chevron Corp. The S&P 500 declined 2.76 points, or 0.1%, at 2,170.84, as the energy sector dropped 3.3%. Oil prices settled down 3.7% at $40.06 a barrel. The Nasdaq rose 22.06 points, or 0.4%, to close at 5,184.20, its highest close since July 21, 2015.Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter :http://www.twitter.com/epicresearchsg Like Us On Facebook :http://www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg

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SGX IForex Recommendations : Epic Research Singapore

TRADING TIPS :

The euro was little changed against the dollar on Friday, after the release of mostly positive data from the euro zone, as markets were still digesting the European Central Bank’s decision on Thursday to leave monetary policy on hold. EUR/USD was little changed at 1.1031, still close to Thursday’s one-month trough of 1.0979. The euro strengthened briefly after ECB President Mario Draghi said on Thursday that European markets weathered the post-Brexit volatility with “encouraging resilience”, but reiterated that the central bank is ready to act by using all the instruments available under its mandate if necessary.Draghi also said the euro zone recovery faces several headwinds, and the risks remain tilted to the downside, citing the UK referendum, slowing emerging markets and the slow pace of structural reforms as key threats.

RECOMMENDATION:

BUY GBPUSD ABOVE 1.3110 TGT 1.3130 1.3160 SL 1.3080

SELL GBPUSD BELOW 1.3060 TGT 1.3040 1.3010 SL 1.3090

RECOMMENDATION:

BUY EURUSD ABOVE 1.0980 TGT 1.1000 1.1030 SL 1.0950

SELL EURUSD BELOW 1.0970 TGT 1.0950 1.0920 SL 1.1000

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SGX IForex Recommendations : Epic Research Singapore

TRADING TIPS :

EUR/USD is currently trading with a bullish bias. Euro continues to trade within it’s consolidation range, not going below 1.1034 or above 1.1165. As long as the pair trades within this range we look to trade reversals from either levels within the range. A break above this range will culminate into a possible bullish rally towards 1.1120 or even higher to 1.1165. A break below 1.1034 will lead to a momentum to the lower side but should not go beyond 1.0936. This pair should be traded alongside EUR/JPY, GBP/USD, GBP/CHF and

RECOMMENDATION:

BUY GBPUSD ABOVE 1.3235 TGT 1.3255 1.3285 SL 1.3205

SELL GBPUSD BELOW 1.3165 TGT 1.3145 1.3105 SL 1.3195

RECOMMENDATION:

BUY EURUSD ABOVE 1.1083 TGT 1.1103 1.1133 SL 1.1053

SELL EURUSD BELOW 1.1036 TGT 1.1.1016 1.0986 SL 1.106

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SGX IForex Recommendations : Epic Research Singapore

TRADING TIPS :

EUR/USD is currently trading with a bullish bias. During the previous trading day on 15th July 2016, Euro reversed from the resistance level 1.1165, headed short and even hit the key support level 1.1034. We are waiting for a clear breakout below 1.1034 to continue to the lower side. However, as long as the pair trades above 1.1049, expect a possible bullish bias towards 1.1120 or even higher to 1.1165. This pair should be traded alongside GBP/CHF, GBP/JPY, USD/JPY, EUR/CHF, and AUD/USD. These pairs have a strong positive correlation of up to +0.96 and will have a similar price action during this intraday.

RECOMMENDATION:

BUY GBPUSD ABOVE 1.3342 TGT 1.3362 1.3392 SL 1.3312

SELL GBPUSD BELOW 1.3108 TGT 1.3088 1.3058 SL 1.3138

RECOMMENDATION:

BUY EURUSD ABOVE 1.1073 TGT 1.1093 1.1123 SL 1.1043

SELL EURUSD BELOW 1.1036 TGT 1.1.1016 1.0986 SL 1.1066

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info@epicresearch.sg

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SGX IForex Recommendations : Epic Research Singapore

TRADING TIPS :

EUR/USD is currently trading with a bullish bias. Yesterday, wave (c) traded long as previously forecasted but is yet to reach our target resistance level 1.1155. During this intraday, we expect a possible bullish rally towards 1.1155 or even higher to 1.1267. A clear reversal from the zone 1.1155-1.1167 will mark the end of wave (c), which means looking for short positions. This pair should be traded alongside USD/CAD and USD/CHF. These pair have a strong negative correlation of up to -0.96 and will have an exact opposite price action during this intraday.

RECOMMENDATION:

BUY GBPUSD ABOVE 1.3470 TGT 1.3490 1.3540 SL 1.3440

SELL GBPUSD BELOW 1.3345 TGT 1.3325 1.3295 SL 1.3375

RECOMMENDATION:

BUY EURUSD ABOVE 1.1200 TGT 1.1220 1.1250 SL 1.1170

SELL EURUSD AROUND 1.1180-1.1182 TGT 1.1.1160 1.1130 SL 1.1210

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SGX IForex Recommendations : Epic Research Singapore

TRADING TIPS :

EUR/USD has posted small gains on Wednesday, as the pair continues to drift this week. The pair is trading at 1.1080. It’s another light day on the release front, as the markets look for economic cues for guidance. In the Eurozone, French Final CPI posted a small gain of 0.1 percent, close to the estimate. Eurozone Industrial Production posted a sharp drop of 1.2 percent, below expectations. In the US, today’s highlight is Crude Oil Inventories, with the estimate standing at -2.3 million barrels. On Thursday, the US will release two key events – PPI and Unemployment Claims.

RECOMMENDATION:

BUY GBPUSD ABOVE 1.3345 TGT 1.3365 1.3395 SL 1.3315

SELL GBPUSD BELOW 1.3525 TGT 1.3505 1.3475 SL 1.3555

RECOMMENDATION:

BUY EURUSD AROUND 1.1053 TGT 1.1073 1.1203 SL 1.1033

SELL EURUSD BELOW 1.1120 TGT 1.1100 1.1070 SL 1.1150

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SGX IForex Recommendations : Epic Research Singapore

TRADING TIPS :

EUR/USD is currently trading with a bullish bias. As previously forecasted, the pair continues to trade within the consolidation zone 1.1167-1.1034. As long as the pair trades within this consolidation, we expect to trade reversals within the range. A breakout above 1.1167 will lead to a possible bullish price movements towards 1.1267 while a breakout below 1.1034 will culminate into a possible bearish price rally towards 1.0935. This pair should be traded alongside GBP/USD, GBP/CHF, and EUR/JPY. These pairs have a strong positive correlation of up to +0.92 and will have a similar price action during this intraday.

RECOMMENDATION:

BUY GBPUSD ABOVE 1.3180 TGT 1.3200 1.3230 SL 1.3150

SELL GBPUSD BELOW 1.3170 TGT 1.3150 1.3120 SL 1.3200

RECOMMENDATION:

BUY EURUSD AROUND 1.1125 TGT 1.1145 1.1175 SL 1.1095

SELL EURUSD BELOW 1.1070 TGT 1.1050 1.1020 SL 1.1100

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SGX IForex Recommendations : Epic Research Singapore

TRADING TIPS :

EUR/USD is currently trading with a bearish bias. The pair entered into a consolidation not going above 1.1167 or below 1.1034. During this intraday, we expect a possible bearish break below 1.1034 to go short with an ideal target at 1.094. The overall trend is bearish and a clear breakout below 1.1034 will confirm the anticipated bearish rally. This pair should be traded alongside EUR/JPY, and EUR/CHF. These pairs have a strong positive correlation of up to +0.95 and will have a similar price action during this intraday.

RECOMMENDATION:

BUY GBPUSD ABOVE 1.2980 TGT 1.3000 1.3020 SL 1.2950

SELL GBPUSD BELOW 1.2850 TGT 1.2870 1.2840 SL 1.2880

RECOMMENDATION:

BUY EURUSD AROUND 1.1065 TGT 1.1085 1.1115 SL 1.1035

SELL EURUSD BELOW 1.1015 TGT 1.0985 1.0955 SL 1.1045

 

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SGX IForex Recommendations : Epic Research Singapore

TRADING TIPS :

EUR/USD has posted slight losses on Friday, following modest losses in the Thursday session. The pair is slightly below the 1.11 level. On the release front, German Trade Balance slipped in May but was within expectations. Next up is French Industrial Production. Over in the US, employment data will be in the spotlight with three key events, highlighted by Nonfarm Employment Change. US employment numbers looked sharp on Thursday. ADP Nonfarm Employment Change was almost unchanged in June, with a reading of 172 thousand. This figure was well above the forecast of 158 thousand. This was followed by a solid unemployment claims release, as the indicator dropped to 254 thousand, marking an 11 week low. A strong release would confirm that the labor market is improving and job creation is gaining steam.

RECOMMENDATION:

BUY GBPUSD ABOVE 1.3055 TGT 1.3075 1.3105 SL 1.3025

SELL GBPUSD BELOW 1.2935 TGT 1.2915 1.2885 SL 1.2905

RECOMMENDATION:

BUY EUR/USD ABOVE 1.1070 TGT 1.1090 1.1110 SL 1.1040

SELL EUR/USD BELOW 1.1045 TGT 1.1025 1.1005 SL 1.1075

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SGX IForex Recommendations : Epic Research Singapore

TRADING TIPS :

EUR/USD is currently trading with a bullish bias. Yesterday, instead of going short as previously forecasted, the pair rebounded from the support level 1.1040, headed long but is yet to reach our target resistance level 1.1167. During this intraday, we expect a bullish price movements towards 1.1167 or even a break above it. This pair should be traded alongside AUD/JPY, EUR/JPY, GBP/JPY and NZD/USD. These pairs have a strong positive correlation of up to +0.92 and will have a similar price action during this intraday.

RECOMMENDATION:

BUY GBPUSD ABOVE 1.3055 TGT 1.3075 1.3105 SL 1.3025

SELL GBPUSD BELOW 1.2935 TGT 1.2915 1.2885 SL 1.2905

RECOMMENDATION:

BUY EURUSD AROUND 1.1111 TGT 1.1131 1.1161 SL 1.1081

SELL EURUSD BELOW 1.1030 TGT 1.1010 1.0980 SL 1.1060

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SGX IForex Recommendations : Epic Research Singapore

TRADING TIPS :

EUR/USD is showing little movement on Wednesday, following losses in the Tuesday session. The pair is trading at 1.1060. On the release front, German Factory Orders disappointed with a flat reading of 0.0%, shy of the estimate of 1.0%. The US will release ISM Non-Manufacturing PMI, with the estimate standing at 53.3 points. The spotlight will be on the central banks, as ECB President Mario Draghi addresses an ECB event in Frankfurt, while the Federal Reserve will release the minutes of its June policy meeting. On Thursday, employment numbers will be in focus, with the release of ADP Nonfarm Employment Change and Unemployment Claims.

RECOMMENDATION:

BUY GBPUSD ABOVE 1.3000 TGT 1.3020 1.3050 SL 1.2970

SELL GBPUSD AROUND 1.3196 TGT 1.3176 1.3146 SL 1.3226

RECOMMENDATION:

BUY EURUSD AROUND 1.1080 TGT 1.1100 1.1130 SL 1.1050

SELL EURUSD BELOW 1.1040 TGT 1.1010 1.0980 SL 1.1070

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SGX IForex Recommendations : Epic Research Singapore

TRADING TIPS :

EUR/USD is currently trading with a bullish. During the previous trading day on 1st July, wave [c] traded long as previously forecasted and even hit our target resistance level 1.1167. During this intraday, we expect a possible bearish reversal from this level to go short, while a clear breakout above this target will lead to an upward momentum towards 1.1276. This pairs should be traded alongside EUR/JPY, NZD/USD and GBP/USD. These pairs have a strong positive correlation of up to +0.96 and will have a similar price action during this intraday.

RECOMMENDATION:

BUY GBPUSD ABOVE 1.3310 TGT 1.3330 1.3360 SL 1.3280

SELL GBPUSD BELOW 1.3205 TGT 1.3185 1.3155 SL 1.3235

RECOMMENDATION:

BUY EURUSD AROUND 1.1050 TGT 1.1070 1.1100 SL 1.1020

SELL EURUSD BELOW 1.1040 TGT 1.1020 1.0990 SL 1.1070

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SGX IForex Recommendations : Epic Research Singapore

TRADING TIPS :

The dollar dropped against the yen and gained ground against the euro on Friday, as ongoing uncertainty following the Brexit vote and disappointing Chinese manufacturing activity data fuelled safe-haven demand.EUR/USD fell 0.29% to 1.1073.Markets continued to recover from Britain’s shock decision last week to leave the European Union.Bank of England Governor, Mark Carney, indicated on Thursday that more stimulus may be needed over the summer, sparking expectations for an upcoming rate cut. Meanwhile, market sentiment weakened after data showed that China’s Caixin manufacturing purchasing managers’ index fell to 48.6 in June from 49.2 the previous month, compared to expectations for a downtick to 49.1.

RECOMMENDATION:

BUY GBPUSD ABOVE 1.3345 TGT 1.3365 1.3375 SL 1.3315

SELL GBPUSD AROUND 1.3385-87 TGT 1.3365 1.3335 SL 1.3415

RECOMMENDATION:

BUY EURUSD AROUND 1.1080 TGT 1.1100 1.1130 SL 1.1050

SELL EURUSD BELOW 1.1070 TGT 1.1050 1.1020 SL 1.1100

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SGX IForex Recommendations : Epic Research Singapore

TRADING TIPS :

EUR/USD is currently trading with a slight bullish bias. Yesterday, the pair traded long and even hit our target resistance level 1.1118. This pair is still petty much bullish on the daily chart and may rally towards 1.1169. As long as the pair trades within the rising channel, we expect an acceleration to the upper side. The current downward rally on the daily chart is a mere pullback and should not go below 1.1064. This pair should be traded alongside NZD/USD, GBP/USD and AUD/ USD. These pairs have a strong positive correlation of up to +0.89 and will have a similar price action during this intraday.

RECOMMENDATION:

BUY GBPUSD ABOVE 1.3530 TGT 1.3550 1.3580 SL 1.3500

SELL GBPUSD BELOW 1.3420 TGT 1.3400 1.3370 SL 1.345 0

RECOMMENDATION:

BUY EURUSD ABOVE 1.1140 TGT 1.1160 1.1190 SL 1.1110

SELL EURUSD BELOW 1.1075 TGT 1.1055 1.1025 SL 1.1105

  

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SGX IForex Recommendations : Epic Research Singapore

TRADING TIPS :

EUR/USD is currently trading with a slight bullish bias. Yesterday, euro retraced to the upper side but is yet to reach our target reversal point at 1.1113. During this intraday, we expect a possible bullish price action towards 1.1113, where we’ll be looking to go short with our ideal target below 1.0935. This pair should be traded alongside GBP/USD, NZD/USD, AUD/USD and GBP/JPY. These pairs have a strong positive correlation of up to +0.89 and will have a similar price action during this intaday.

RECOMMENDATION:

BUY GBPUSD ABOVE 1.3422 TGT 1.3442 1.3472 SL 1.3392

SELL GBPUSD BELOW 1.3350 TGT 1.3330 1.3300 SL 1.3380

RECOMMENDATION:

BUY GBPUSD ABOVE 1.3422 TGT 1.3442 1.3472 SL 1.3392

SELL GBPUSD BELOW 1.3350 TGT 1.3330 1.3300 SL 1.3380

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SGX IForex Recommendations : Epic Research Singapore

TRADING TIPS :

EURUSD formed a spinning bottom yesterday seeking support at 1.10 with the price action seeing a bullish follow through in early Asian trading today. The gains came after markets started pricing a Fed rate cut this year following the Brexit verdict. The Fed funds futures rate is now surprisingly pricing in a 17% rate cut by September, increasing from 7% on Friday. From a technical perspective, the euro has managed to establish support near 1.10 – 1.0985 support level and in the interim, price action remains caught above this support and below 1.1143 – 1.115 resistance levels.

RECOMMENDATION:

BUY GBPUSD ABOVE 1.3480 TGT 1.3500 1.3530 SL 1.3450

SELL GBPUSD BELOW 1.3220 TGT 1.3200 1.3170 SL 1.3250

RECOMMENDATION:

BUY EURUSD ABOVE 1.1110 TGT 1.1130 1.1160 SL 1.1080

SELL EURUSD BELOW 1.1045 TGT 1.1025 1.0995 SL 1.1075

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SGX IForex Recommendations : Epic Research Singapore

TRADING TIPS :

EUR/USD is currently trading with a bearish bias. During the previous trading day on 24th June 2016, Euro reacted negatively to Brexit, headed short and and may head further to the lower side. During this intraday, we are very reluctant to go long, instead, we will only be interested in signals giving sell opportunities. This pair should be traded alongside NZD/ USD, AUD/USD, and GBP/USD. These pairs have a strong positive correlation of up to +0.96 and will have a similar price action during this intraday.

RECOMMENDATION:

BUY GBPUSD ABOVE 1.3480 TGT 1.3500 1.3530 SL 1.3450

SELL GBPUSD BELOW 1.3220 TGT 1.3200 1.3170 SL 1.3250

RECOMMENDATION:

BUY EURUSD ABOVE 1.1087 TGT 1.1107 1.1137 SL 1.1057

SELL EURUSD BELOW 1.1010 TGT 1.0990 1.0960 SL 1.1040

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