Comex Recommendations : Epic Research Malaysia

INTERNATIONAL COMMODITY NEWS :
Gold prices fell in Asia on Thursday after trhe Federal Reserve signaled it remained on track to raise interest rates this year, though the timing remains uncertain.On the Comex division of the New York Mercantile Exchange, gold futures for April delivery fell 0.11% to trade at $1,285.80 a troy ounce in Asia, while silver futures eased 0.56% to $17.987 a troy ounce.Gold edged lower in quiet trade on Wednesday as the Federal Reserve said the U.S. economy was expanding “at a solid pace” as it largely looked through weakness overseas in a signal that it remains on track to raise interest rates later this year.The U.S. central bank repeated it would be “patient” in deciding when to raise benchmark borrowing costs from zero, where they have been stuck since late-2008.

TRADING STRATEGY :
BUY GOLD ABOVE 1286 TARGET 1291 1297 SL 1280
SELL GOLD BELOW 1271 TARGET 1266 1260 SL 1277

S&P Market News Update : Epic Research Malaysia

U.S. stocks ended Wednesday’s choppy trading session sharply lower after the Federal Reserve’s policy-making committee reiterated it plans to remain patient and watch the data as it decides when to raise interest rates.

The S&P 500 SPX, -1.35% closed 27.39 points, or 1.4%, lower at 2,002.23, with all 10 main sectors finishing in the red. The energy sector fell 3.9%, as oil fell to lowest levels since March 2009.

Forex Market Update : Epic Research Malaysia

The dollar inched higher against the euro and pound Wednesday afternoon after the Federal Reserve’s policy statement included no clear guidance about its rate-hike plans.

The dollar USDJPY, +0.31%  was at ¥117.43, compared with ¥117.80 Tuesday. The euro EURUSD, -0.14%  traded at $1.1289, compared with $1.1362 Tuesday. The pound USDGBP, +0.01%  traded at $1.5169, compared with $1.5185.

The Russian ruble RUBUSD, -0.38%  declined to 67.84 rubles per dollar, compared to 67.75 Tuesday.

After the news, the Singapore dollar USDSGD, +0.07%   fell 1.4% to 1.36 per U.S. dollar, its lowest level in more than four years. It traded at 1.34 to the dollar Tuesday.

Gasoline Market Update : Epic Research Malaysia

Elsewhere in energy trading, gasoline for February delivery RBG5, +0.67%  turned lower, off half a penny, or 0.4%, to finish at $1.3450 a gallon on Nymex. February heating oil HOG5, -0.10%  fell 3 cents, or 1.9%, to end at $1.6318 a gallon on Nymex.

February natural gas NGG15, -3.66%  retreated 11.5 cents, or 3.9%, to end at $2.8660 per million British thermal units. That was natural gas’s largest one-day drop in a week.

IForex Recommendations : Epic Research Malaysia

TRADING TIPS :
GBP/USD pulled away from 1.5117, the session high, to hold steady at 1.5075 during European morning trade.In a report, the Office for National Statistics said U.K. gross domestic product expanded by 0.5% in the final three months of 2014, below forecasts for growth of 0.6%. The U.K.’s economy grew by 0.7% in the previous quarter.Year-over-year, U.K. economic growth grew 2.7% in the three months ending December, missing expectations for a gain of 2.8%. The U.K. economy expanded at an annualized rate of 2.6% in the third quarter of 2014.A separate report showed that U.K. mortgage approvals decreased to a 20-month low of 35,700 last month from November’s total of 36,700. Analysts had expected the number of new mortgages approved to decline to 36,600 in December.





INTRADAY OUTLOOK
Support: 1.5058
Resistance: 1.5131


RECOMMENDATION:
1. Buy GBP/USD Above 1.5133-TG: 1.5153/1.5183 SL 1.5103
2. Sell GBP/USD Below 1.5055-TG: 1.5035/1.5005 SL 1.5085


INTRADAY OUTLOOK
Immediate Support: 1.1215
Immediate Resistance: 1.1293


RECOMMENDATION:
1. Buy EUR/USD Above -1.1295 TG: 1.1315/1.1345 SL 1.1265



2. Sell EUR/USD Below -1.1213 TG:1.1193/1.1163 SL 1.1243