12-July International Forex. For More Information Please visit or contact

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1 12-July-2018 For More Information Please visit or contact Please refer to disclaimer at the end of the report.

2 INTERNATIONAL CURRENCY BUZZ Forex - GBP/USD -British pound trading sideways, political drama continues Forex - Dollar Edges Higher, But Fresh Trade Concerns Weigh Forex - EUR/USD moves to session tops near GBP/USD The latest UK political developments, wherein the PM Theresa May could face a formal leadership challenge, kept the GBP bulls on the back-foot. This coupled with resurgent US Dollar demand prompted some fresh selling around the major. News of additional US tariffs of 10% on around $200 billion worth of Chinese imports pushed fears of a trade war back into focus and triggered a fresh wave of risk-aversion trade, which was eventually seen boosting the greenback's safe-haven appeal against the British Pound. The pair has now retreated back towards overnight swing lows touched in the aftermath of disappointing UK manufacturing/industrial production data and hence, a followthrough weakness, led by some fresh technical selling, now looks a distinct possibility. Investors now look forward to the BoE Governor Mark Carney's scheduled speech, at the National Bureau of Economic Research conference, for some fresh impetus. EUR/USD The single currency has now recovered the smile, prompting EUR/USD to revert the previous negative mood and instead shift its focus to the region, or daily peaks. Spot reverted the drop to the neighbourhood afternews cited ECB officials could not find common ground regarding the timing of the first rate hike by the central bank. Some officials are biased towards a Summer 2019 hike, while others seem to lean towards an earlier rate raise, say Autumn. One way or another, this news seems to have woken up EUR-bulls and pushed spot to the /60 band, turning it positive for the day and at the same time recording fresh daily highs. In the data space, US Producer Prices came in on the strong side in June, advancing at a monthly 0.3%, while the core reading also showed prices up 0.3% inter-month. At the moment, the pair is gaining 0.08% at facing the next hurdle at (high Jul.9) seconded by (high Jun.15) and finally (38.2% Fibo of April-May drop).

3 DAILY ECONOMIC DATA

4 GBP/USD Daily Chart EPIC'S ANALYST SPEAKS INTRADAY OUTLOOK Support: Resistance: RECOMMENDATION: BUY GBPUSD ABOVE TGT SL SELL GBPUSD BELOW TGT SL

5 EUR/USD Daily Chart EPIC'S ANALYST SPEAKS INTRADAY OUTLOOK Support: Resistance: RECOMMENDATION: BUY EURUSD ABOVE TGT SL SELL EURUSD BELOW TGT SL

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