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MAHA Global and IPR: Do Actions Speak Louder Than Words?
EPIC RESEARCH SINGAPORE :- Weekly IForex Report from 15-19 June 2015
1. EPIC RESEARCH REPORT
WEEKLY INTERNATIONAL FOREX
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15 JUN-19 JUN 2015
2. Forex - Dollar broadly higher vs. other majors ahead of UoM report.
Forex - Pound slips lower against broadly stronger dollar.
Forex - EUR/USD slides lower after IMF quits Greek debt talks.
GBP/USD
GBP/USD hit 1.5492 during European morning trade, the session low; the pair subsequently
consolidated at 1.5502, edging down 0.10%.The pound slipped lower against the U.S. dollar on Friday, as
demand for the greenback remained supported by the previous session's upbeat U.S. retail sales report and
ahead of an additional report on U.S. consumer sentiment due later in the day.Cable was likely to find
support at 1.5365, the low of June 10 and resistance at 1.5591, the high of May 20.The dollar found support
after the U.S. Commerce Department reported on Thursday that retail sales increased by 1.2% last month,
beating expectations for a gain of 1.1%, and that core retail sales, which exclude automobile sales, rose by
1.0% in May, compared to forecasts for a 0.7% increase.
EUR/USD
EUR/USD hit 1.1218 during late Asian trade, the session low; the pair subsequently consolidated at
1.1224, shedding 0.28%.The euro slid lower against the U.S. dollar on Friday, as concerns over a potential
Greek default grew stronger after the International Monetary Fund chose to leave negotiations and as
demand for the greenback remained supported ahead of upcoming U.S. data.The pair was likely to find
support at 1.1080, the low of June 8 and resistance at 1.1332, Thursday's low.The single currency tumbled
over 1% against the dollar on Thursday when the IMF pulled out of Greek debt talks after it accused Athens
of failing to compromise over labour market and pension reforms.
INTERNATIONAL CURRENCY BUZZ
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INTRADAY OUTLOOK
Support: 1.1127
Resistance: 1.1400
RECOMMENDATION:
BUY EUR USD ABOVE 1.1470 TARGET 1.1510 1.1560 SL 1.1420
SELL EUR USD BELOW 1.1080 TARGET 1.1040 1.0990 SL 1.1130
EPIC'S ANALYST SPEAK
EUR/USD DAILY CHART
6. DISCLAIMER
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