KLSE IForex Recommendations : Epic Research Malaysia

Trading Tips:
The EUR/USD pair failed to sustain the EZ PMIs-led gains and retreated to the familiar range near 1.1220 levels as the EUR,GBP traders gear up for the ECB event due later shortly. The EUR/USD pair trades modestly flat at 1.1223, facing rejection at 1.1243 session highs. The major trades in 50 pip narrow range during the European session, awaiting the outcome of the ECB meeting and Draghi’s speech at the press conference. Moreover, persisting risk sentiment further boosted by strengthening European indices, continue to favour the newly crowned risk currency – US dollar, negatively weighing on the EUR/USD pair. Focus now shifts back towards the European Central Bank (ECB) meeting with markets expecting a clear dovish bias from the ECB policymakers in light of the recent financial market turmoil and persisting lower EZ inflation levels. Markets further expect that the central bank may talk down the currency in a bid to combat softer inflation.

RECOMMENDATION :
BUY GBP/USD ABOVE 1.5255 TARGET 1.5275 1.5305 SL 1.5225
SELL GBP/USD BELOW 1.5215 TARGET 1.5195 1.5165 SL 1.5245

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