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EPIC RESEARCH : - Daily i forex Report Of 13 July 2018

Daily i forex Report Of 13 July 2018

INDIA, 13 July 2018 -- Epic Research Limited delivers reliable trading advice for traders to fulfill their goals and return expectations is very true.


Forex - EU to back Bulgaria's first step toward joining euro: source
Forex - Dollar Steady at 1-1/2-Week Highs after U.S. Inflation Data
Forex - GBP futures: extra range bound likely


The GBP/USD pair reversed an early dip to an intraday low level of 1.3180, or over one-week lows, and spiked to
fresh session tops post-US CPI, albeit lacked any strong follow-through. The pair managed to find some buying interest near a support marked by short-term ascending trend-channel formation on the 1-hourly chart. The release
of updated Brexit white paper triggered the initial leg of rebound and was further supported by a modest US Dollarretracement. The USD struggled to build on its positive momentum and was being capped by softer US
inflation figures, coming in to show 0.1% m/m rise in June as against 0.2% expected. However, mostly in-line core
CPI/yearly figures and upbeat weekly initial jobless claims data helped limit a sharp downfall and eventually kept a
lid on any meaningful up-move for the major. However, a decisive break below the trend-channel support might
negate the positive outlook and turn the pair vulnerable to extend this week's rejection slide from 50-day SMA.


Euro zone finance ministers are expected to give their green light on Thursday to Bulgaria's bid to join the bloc's
banking union, a step toward the Balkan state's adoption of the euro, EU officials said. Bulgaria meets the nominal
criteria to adopt the common currency, with low inflation, healthy public finances and its lev currency already pegged to the euro. But it is also the EU's poorest country, and widespread graft and troubles at some of its banks
have cast a shadow over its prospects of joining. One EU official told Reuters that euro zone finance ministers will
agree on Thursday on a "timeframe" for Bulgaria's next steps toward the euro membership. They will say they will
accept Sofia's request to join the banking union, once the country makes a formal request - a move expected in the
coming days or even hours. Banking union member countries transfer to EU bodies the powers to oversee their top
banks and deal with ailing lenders.

GBP/USD Daily Chart

Support: 1.3146
Resistance: 1.3316

BUY GBPUSD ABOVE 1.3250 TGT 1.3270 1.3300 SL 1.3220
SELL GBPUSD BELOW 1.3150 TGT 1.3130 1.3100 SL 1.3180

EUR/USD Daily Chart

Support: 1.1608
Resistance: 1.1790

BUY EURUSD ABOVE 1.1700 TGT 1.1720 1.1750 SL 1.1670
SELL EURUSD BELOW 1.1660 TGT 1.1640 1.1610 SL 1.1690

Epic Research Limited delivers reliable trading advice for traders to fulfill their goals and return expectations is very true. Every day we come to work for 2 different things: thorough research on market movements & deliver those calls timely to our clients help make their investment at the right place. It was absolutely true when we started our company in 2008 and it's just as true today. We’re not just passionate purveyors of market research calls & advice but making trading a rewarding experience in all major segments which includes nse stock tips, derivatives trading, MCX and NCDEX trading, Currency Derivatives etc.


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Submitted by Epic Research, Epic Research Pvt.Ltd indore on Friday, 13 July 2018 at 1:17 PM
Category: Business
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