Epic Research Singapore : - Daily IForex Report of 05 February 2016

1. Iforex Market Insight  INTERNATIONAL CURRENCY BUZZ  ECONOMIC CALENDAR  GBP/USD HOURLY CHART  EUR/USD HOURLY CHART EPIC RESEARCH SINGAPORE

2. Iforex Market Insight Date– 05– Feb INTERNATIONAL CURRENCY BUZZ Forex -Australian, New Zealand dollars steady near 1-month highs Forex -Dollar on defensive after broad decline on rate hike doubts Forex - No traction for dollar after Fed rates collapse EUR/USD EUR/USD is trading above the 1.11 line in Thursday’s European session, following sharp gains a day ear- lier. On the release front, there are no major Eurozone events. ECB President Mario Draghi will deliver remarks at an event in Frankfurt. In the US, today’s key event is Unemployment Claims, with the indica- tor expected to remain steady at 279 thousand.The shared currency picked-up significant strength ver- sus its American counterpart in the last hours, with EUR/USD now hovering near multi-month highs above 1.1150.Currently, EUR/USD trades 0.44% higher at 1.1153, having printed fresh four-month highs at 1.1162 last minutes. The latest upsurge seen in the EUR/USD pair was triggered by ECB’s Chief Draghi’s pledge to fight inflation, as he spoke at the Deutsche Bundesbank’s Marjolin Lecture, in Frank- furt.Further, the EUR/USD pair completely ignored the risk-on rally in the European stocks and strength- ened further as the US dollar halted its correction and resumed its broad based sell-off ahead of the US data releases, including the jobless claims and factory orders, which are likely to disappoint markets. GBP/USD The broad based USD sell-off seen in the NY session ran out of steam in Asia, opening doors for a drop in the GBP/USD below 1.46 levels.UK side of the story is likely to have a major say in determining the exchange rate as we move closer to the Super Thursday events- BOE rate decision, Minutes, Quarterly Inflation Report (QIR). Markets are expecting the central bank to maintain its dovish stance.Later in the day, US weekly jobless claims are due for release. Apart from the data, the broader market sentiment and the resulting impact on the USD could influence the pair. The spot currently trades around 1.4570. The immediate resistance is seen at 1.46, ahead of the major hurdle at 1.4649 (previous day’s high), which if taken out shall open doors for a rally to 1.4712 (50-DMA). On the other hand, a break below a strong support zone of 1.4519-1.4515 (38.2% of 1.5230-1.4079 + 23.6% of 1.4079-1.4649) would open doors for a slide to 1.4431 (38.2% of 1.4079-1.4649). Iforex Market Insight Report By Epic Research Singa- www.epicresearch.sg

3. Iforex Market Insight Date– 05– Feb ECONOMIC CALENDAR Time Time Cur. Cur. Event Event Forecast Forecast Previous Previous Friday, February 5, 2016 03:30 USD FOMC Member Mester Speaks - - 06:00 AUD RBA Monetary Policy Statement - - 06:00 AUD Retail Sales (MoM) (Dec) 0.5% 0.4% 19:00 USD Average Hourly Earnings (MoM) (Jan) 0.3% 0.0% 19:00 USD Nonfarm Payrolls (Jan) 190K 292K 19:00 USD Participation Rate (Jan) - 62.6% 19:00 USD Private Nonfarm Payrolls (Jan) 183K 275K 19:00 USD Trade Balance (Dec) -43.00B -42.40B 19:00 USD Unemployment Rate (Jan) 5.0% 5.0% 23:30 USD Baker Hughes U.S. Rig Count - 498 Iforex Market Insight Report By Epic Research Singapore www.epicresearch.sg

4. Iforex Market Insight Date– 05– Feb GBP/USD HOURLY CHART BUY GBP/USD ABOVE 1.4650 TARGET 1.4670 1.4700 SL 1.4620 SELL GBP/USD BELOW 1.4610 TARGET 1.4580 1.4550 SL 1.4640 EUR/USD HOURLY CHART BUY EUR/USD ABOVE 1.1170 TARGET 1.1190 1.1220 SL 1.1140 SELL EUR/USD BELOW 1.1120 TARGET 1.1100 1.1070 SL 1.115 Iforex Market Insight Report By Epic Research Singa- www.epicresearch.sg

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