Daily iforex report 07 feb 2014 by epic research

DAILY IFOREX REPORT 07 FEBRUARY 2014 TRADING TIPS

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BUY AUD-USD ABOVE 0.8980 TGT 0.9005,0.9040 SL 0.8940 SELL GBP-USD BELOW 1.6310 TGT 1.6285 ,1.6250 SL 1.6350

HEADLINES

Name

Last

EUR/USD

1.3602

USD/JPY

101.8485

GBP/USD

1.6342

USD/CHF

0.8993

AUD/USD

0.8966

USD/CAD

1.1064

NZD/USD

0.8273

EUR/CHF

1.2233

EUR/JPY

138.538

EUR/GBP

0.8323

EUR/AUD

1.5171

GBP/CHF

1.4698

GBP/JPY

166.437

GBP/CAD

1.8082

GBP/AUD

1.8226

AUD/JPY

91.3195

CAD/JPY

92.051

CHF/JPY

113.2465

NZD/JPY

84.2565

AUD/CAD

0.9921

AUD/CHF

0.8064

AUD/SGD

1.1367

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Forex - Dollar higher against yen, euro strengthens after ECB

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Forex - GBP/USD holds steady after BoE statement, U.S. data

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Forex - Euro higher as ECB announces no new easing measures

USD/JPY hit session highs of 102.00 and was last up 0.42% to 101.88.

The dollar found support after a report showed that the number of people who filed for unemployment assistance in the U.S. last week fell more-than-expected.

The Labor Department said initial jobless claims fell by 20,000 to 331,000 from the previous week’s revised total of 351,000. Analysts had expected jobless claims to fall by 16,000.

A separate report showed that the U.S. trade deficit widened significantly in December, as exports dropped 2.2% and imports rose 1.6%.

GBP/USD hit 1.6329 during U.S. morning trade, the session high; the pair subsequently consolidated at 1.6319, easing up 0.06%.

Cable was likely to find support at 1.6253, Wednesday's low and a seven-week low and resistance at 1.6438, the high of January 15.

Earlier in the day, the BoE voted to leave interest rates steady at record lows of 0.5%, where they have been unchanged since March 2009. The bank also made no change to its quantitative easing program, which remains at 375 billion pounds.

EUR/USD hit 1.3619, the highest since January 30 and was last up 0.58% to 1.3611.

The pair was likely to find support at 1.3500 and resistance at 1.3640.

The euro initially turned lower after the ECB voted to leave interest rates across the euro zone unchanged at their record low of 0.25%. It also left the deposit rate unchanged at zero and the marginal lending rate, which banks pay to borrow from the ECB, unchanged.

HOURLY EURUSD CHART

ANALYSIS EURUSD LOOKS UPSIDE TREND: BEARISH STRATEGY: BUY ABOVE RESISTANCE SELL BELOW SUPPORT RESISTANCE: 1.3630 SUPPORT: 1.3580

HOURLY USDJPY CHART

ANALYSIS USDJPY LOOK UPSIDE TREND: BEARISH STRATEGY: BUY ABOVE RESISTANCE SELL BELOW SUPPORT RESISTANCE: 102.15 SUPPORT: 101.65

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 UPSIDE TREND: BEARISH STRATEGY: BUY ABOVE RESISTANCE SELL BELOW SUPPORT RESISTANCE: 1.6370 SUPPORT: 1.6255

ECONOMIC CALLENDER MEDIUM

Cur.

Imp.

Event

Actual

Forecast

Previous

04:00:00 AM

USD

MEDIUM

FOMC Member Rosengren Speaks

06:00:00 AM

AUD

MEDIUM

RBA Monetary Policy Statement

01:45:00 PM

CHF

MEDIUM

Retail Sales (YoY)

3.90%

4.20%

03:00:00 PM

GBP

MEDIUM

Industrial Production (MoM)

0.60%

0.00%

03:00:00 PM

GBP

MEDIUM

Manufacturing Production (MoM)

0.60%

0.00%

03:00:00 PM

GBP

MEDIUM

Trade Balance

-9.30B

-9.44B

04:30:00 PM

EUR

MEDIUM

German Industrial Production (MoM)

0.50%

1.90%

07:00:00 PM

CAD

HIGH

Employment Change

20.0K

-45.9K

07:00:00 PM

CAD

MEDIUM

Unemployment Rate

7.00%

7.20%

07:00:00 PM

USD

MEDIUM

Average Hourly Earnings (MoM)

0.20%

0.10%

07:00:00 PM

USD

MEDIUM

Average Weekly Hours

34.4

34.4

07:00:00 PM

USD

MEDIUM

Nonfarm Payrolls

185K

74K

07:00:00 PM

USD

MEDIUM

Private Nonfarm Payrolls

185K

87K

07:00:00 PM

USD

HIGH

Unemployment Rate

6.70%

6.70%

07:30:00 PM

MXN

MEDIUM

Mexican CPI (YoY)

4.54%

3.97%

08:30:00 PM

GBP

MEDIUM

NIESR GDP Estimate

0.70%

02/07/14

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