Iforex Market Insight INTERNATIONAL CURRENCY BUZZ ECONOMIC CALENDAR GBP/USD & EUR/USD HOURLY CHART EPIC RESEARCH MALAYSIA
Iforex Market Insight Date– 29 Nov INTERNATIONAL CURRENCY BUZZ Forex Forex - - US Dollar Strength in Focus Ahead of Powell; USD/CAD Nears Resistance US Dollar Strength in Focus Ahead of Powell; USD/CAD Nears Resistance Forex Forex - - GBP/USD lost some traction and returns below 1.2800 GBP/USD lost some traction and returns below 1.2800 Forex Forex - - EUR/USD parked near 1.1290 post EUR/USD parked near 1.1290 post- -US GDP, looks to Powell US GDP, looks to Powell EUR/USD No news around EUR/USD, which keeps the trade around the 1.1280 area following the publication of another estimate of US Q3 GDP figures. Spot paid little-to-none at- tention to today’s advanced GDP figures, showing the US economy is expected to ex- pand at an annualized 3.5% during the July-September period. Later in the NA ses- sion, US October’s New Home Sales are due followed by the EIA’s report on crude oil supplies and the speech by Fed’s J.Powell. In the meantime, the pair keeps the cautious/bearish stance after breaking below the critical support at 1.1300 the figure on Tuesday, always with Brexit and developments from the Italian political sce- nario as main drivers of the price action. At the moment, the pair is losing 0.01% at 1.1287 and a break below 1.1267 (low Nov.28) would target 1.1214 (2018 low Nov.12) en route to 1.1188 (61.8% Fibo of the 2017-2018 rally). On the flip side, the next barrier is located at 1.1357 (21-day SMA) seconded by 1.1434 (high Nov.22) and finally 1.1473 (high Nov.20). GBP/USD After moving to fresh tops beyond the 1.2800 handle,GBP/USD lost some vigour and it has now retreated to the 1.2780 area. Cable is recovering some ground lost follow- ing Tuesday’s pullback to weekly lows in the 1.2730/25 band. The lack of fresh head- lines around Brexit has been taken as positive by investors so far, motivating the daily rebound to tops beyond the 1.2800 milestone. Later in the day, GBP will be under scrutiny, as the Bank of England will release its Financial Stability Report and Stress Tests results (including Brexit scenarios), all followed by a press conference by Gover- nor M.Carney. Back to Brexit, the critical date will be December 10, when the House of Commons is due to vote on May’s deal following a debate that is scheduled to start in early December. As of writing, the pair is up 0.24% at 1.2777 facing the next hurdle at 1.2829 (high Nov.28) seconded by 1.2902 (21-day SMA) and then 1.3074. On the other hand, a breach of 1.2724 would open the door to 1.2696 and finally 1.2662. Iforex Market Insight By Epic Research Malaysia www.epicresearch.my
Iforex Market Insight Date– 29 Nov ECONOMIC CALENDAR Time Time Cur. Cur. Event Event Forecast Forecast Previous Previous Thursday, November 29, 2018 01:45 CHF GDP (QoQ) (Q3) 0.4% 0.7% 01:45 CHF GDP (YoY) (Q3m) 2.9% 3.4% 03:00 EUR ECB President Draghi Speaks 08:30 USD Core PCE Price Index (MoM) (Oct) 0.2% 0.2% 08:30 USD Core PCE Price Index (YoY) (Oct) 1.9% 2.0% 08:30 USD Initial Jobless Claims 221K 224K 08:30 USD PCE Deflator (MoM) 0.2% 0.1% 08:30 USD PCE Deflator (YoY) 2.1% 2.0% 08:30 USD Personal Spending (MoM) (Oct) 0.4% 0.4% 10:00 USD Pending Home Sales (MoM) (Oct) 0.8% 0.5% 14:00 USD FOMC Meeting Minutes 16:45 NZD Building Consents (MoM) (Oct) -1.5% 18:30 JPY Jobs/applications ratio (Oct) 1.65 1.64 18:30 JPY Tokyo Core CPI (YoY) (Nov) 1.1% 1.0% 18:50 JPY Industrial Production (MoM) (Oct) 1.3% -0.4% 19:30 AUD Private Sector Credit (MoM) (Oct) 0.4% 0.4% 20:00 CNY Manufacturing PMI (Nov) 50.2 50.2 20:00 CNY Non-Manufacturing PMI (Nov) 53.8 53.9 www.epicresearch.my Iforex Market Insight By Epic Research Malaysia
IFOREX Market Insight top 5 gainers Date– 29 Nov GBP/USD DAILY CHART BUY GBPUSD ABOVE 1.2810 TGT 1.2830 1.2860 SL 1.2780 SELL GBPUSD BELOW 1.2750 TGT 1.2730 1.2700 SL 1.2780 EUR/USD DAILYCHART BUY EURUSD ABOVE 1.1290 TGT 1.1310 1.1340 SL 1.1260 SELL EURUSD BELOW 1.1260 TGT 1.1240 1.1210 SL 1.1290 www.epicresearch.my Iforex Market Insight By Epic Research Malaysia
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