KLSE IForex Recommendations : Epic Research Malaysia

TRADING TIPS :

EUR/USD hit 1.2763 during late Asian trade, the pair’s lowest since July 2013; the pair subsequently consolidated at 1.2757, slipping 0.18%.The pair was likely to find support at 1.2754 and resistance at 1.2864, Wednesday’s high. The euro came under pressure after European Central Bank President Mario Draghi said on Wednesday that the bank will keep its monetary policy “accommodative” for as long as needed, and will use every tool at its disposal to fight deflation.Demand for the dollar found further support after a report showed that U.S. new home sales data rose 18.0% last month to 504,000 units, the highest level since May 2008.The pound had strengthened earlier in the week as investor focus returned to the outlook for U.K. monetary policy in the wake of last week’s Scottish independence referendum.


INTRADAY OUTLOOK

Support: 1.2826
Resistance: 1.2843

RECOMMENDATION:
1. Buy EUR/USD Above 1.2846-TG:1.2866/1.2896 SL 1.2816
2. Sell EUR/USD Below 1.2824-TG:1.2804/1.2774 SL 1.2854


INTRADAY OUTLOOK
Immediate Support:1.6391

Immediate Resistance:1.6412

RECOMMENDATION:
1. Buy GBP/USD Above 1.6414-TG:1.6434/1.6464 SL 1.6384
2. Sell GBP/USD Below 1.6389-TG:1.6369/1.6339 SL 1.6419

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