DAILY IFOREX REPORT 05 FEBRUARY 2014 TRADING TIPS
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BUY AUD-USD ABOVE 0.8925 TGT 0.8950,08985 SL 0.8885 SELL GBP-USD BELOW 1.6280 TGT 1.6255 ,1.6220 SL 1.6325
HEADLINES
Name
Last
EUR/USD
1.3516
USD/JPY
101.413
GBP/USD
1.6304
USD/CHF
0.9041
AUD/USD
0.8901
USD/CAD
1.108
NZD/USD
0.816
EUR/CHF
1.222
EUR/JPY
137.071
EUR/GBP
0.829
EUR/AUD
1.5185
GBP/CHF
1.474
GBP/JPY
165.3415
GBP/CAD
1.8064
GBP/AUD
1.8317
AUD/JPY
90.2695
CAD/JPY
91.528
CHF/JPY
112.169
NZD/JPY
82.77
AUD/CAD
0.9862
AUD/CHF
0.8048
AUD/SGD
1.1286
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Forex - Dollar holds gains against yen in cautious trade
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Forex - GBP/USD trims gains in subdued trade
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Forex - Euro remains slightly lower vs. dollar
USD/JPY was up 0.41% to 101.36, recovering from two-month lows of 100.76. Investors remained wary after weak U.S. factory data on Monday reinforced negative investor sentiment in the wake of a broad based selloff in emerging markets. A report by the Institute of Supply Management on Monday showed that its manufacturing index fell to a seven-month low in January, as new orders slumped. GBP/USD was up just 0.04% to 1.6311 after rising to session highs of 1.6344 earlier. Cable is likely to find support at 1.6258 and resistance at 1.6440, Monday’s high. Sterling moved broadly higher earlier in the session after data showed that construction output in the U.K. rose at the fastest rate since August 2007 in January, indicating that the economic recovery is continuing. EUR/USD hit session lows of 1.3494 and was last down 0.09% to 1.3516. The pair was likely to find support at 1.3476, Monday’s low and a ten-week low and resistance at 1.3580. The euro remained under pressure after data late last week showed that the annual rate of euro area inflation slowed to 0.7% in January from 0.8% in December. It was the fourth consecutive month the inflation rate came in at less than 1% and was well below the ECB’s target of 2%. The ECB unexpectedly cut rates to a record low 0.25% when inflation fell to a four-year low of 0.7% in October.
HOURLY EURUSD CHART
ANALYSIS EURUSD LOOKS DOWNSIDE TREND: BEARISH STRATEGY: BUY ABOVE RESISTANCE SELL BELOW SUPPORT RESISTANCE: 1.3520 SUPPORT: 1.3470
HOURLY USDJPY CHART
ANALYSIS USDJPY LOOK DOWNSIDE TREND: BEARISH STRATEGY: BUY ABOVE RESISTANCE SELL BELOW SUPPORT RESISTANCE: 101.70 SUPPORT: 101.10
HOURLY EURGBP CHART
ANALYSIS USD/CAD LOOKS DOWNSIDE TREND: BEARISH STRATEGY: BUY ABOVE RESISTANCE SELL BELOW SUPPORT RESISTANCE: 1.1140 SUPPORT: 1.1029
HOURLY GBPUSD CHART
ANALYSIS GBPUSD LOOKS DOWNSIDE TREND: BEARISH STRATEGY: BUY ABOVE RESISTANCE SELL BELOW SUPPORT RESISTANCE: 1.6325 SUPPORT: 1.6280
ECONOMIC CALLENDER MEDIUM
Cur.
Imp.
Event
Actual
Forecast
Previous
03:15:00 AM
NZD
HIGH
Employment Change (QoQ)
0.60%
1.20%
03:15:00 AM
NZD
MEDIUM
Unemployment Rate
6.00%
6.20%
01:43:00 PM
EUR
MEDIUM
Spanish Services PMI
54.8
54.2
02:13:00 PM
EUR
MEDIUM
Italian Services PMI
48.6
47.9
02:18:00 PM
EUR
MEDIUM
French Services PMI
48.6
48.6
02:23:00 PM
EUR
MEDIUM
German Services PMI
53.6
53.6
02:28:00 PM
EUR
HIGH
Services PMI
51.9
51.9
02:58:00 PM
GBP
MEDIUM
Services PMI
59
58.8
03:30:00 PM
EUR
MEDIUM
Retail Sales (YoY)
1.50%
1.60%
03:30:00 PM
EUR
MEDIUM
Retail Sales (MoM)
-0.50%
1.40%
06:45:00 PM
USD
HIGH
ADP Nonfarm Employment Change
180K
238K
07:00:00 PM
CAD
MEDIUM
Building Permits (MoM)
2.00%
-6.70%
08:30:00 PM
USD
MEDIUM
ISM Non-Manufacturing Employment
55.8
08:30:00 PM
USD
HIGH
ISM Non-Manufacturing PMI
53.7
53
02/05/14
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