DAILY IFOREX REPORT 18 DECEMBER 2013 TRADING TIPS
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SELL USD-JPY BELOW 102.40 TGT 102.15,101.75 SL 102.80 BUY EUR-GBP ABOVE 0.8465 TGT 0.8490 ,0.8530 SL 0.8425
HEADLINES
Name
Last
EUR/USD
1.3753
USD/JPY
102.691
GBP/USD
1.6258
USD/CHF
0.8869
AUD/USD
0.8905
USD/CAD
1.0605
EUR/CHF
1.2197
EUR/JPY
141.2245
EUR/GBP
0.846
GBP/CHF
1.4419
GBP/JPY
166.951
GBP/CAD
1.7243
GBP/AUD
1.8256
AUD/JPY
91.465
CAD/JPY
96.845
CHF/JPY
115.781
AUD/CAD
0.9445
AUD/CHF
0.7898
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Forex - EUR/USD gains on mixed U.S. data, solid European factory gauge
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Forex - Dollar lower against yen and euro in subdued trade
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Forex - Euro remains higher vs. dollar with Fed ahead
The Fed holds a policy two-day meeting that wraps up Wednesday, with markets unsure if the U.S. central bank will determine the economy has strengthened to the point to begin scaling back bond purchases, which weaken the dollar to spur recovery. In U.S. trading on Monday, EUR/USD was up 0.14% at 1.3761, up from a session low of 1.3729 and off from a high of 1.3798. The pair was likely to find support at 1.3695, the low from Dec. 9, and resistance at 1.3811, Wednesday's high. London-based market research group Markit reported earlier that its preliminary U.S. manufacturing purchasing managers’ index declined to a seasonally adjusted 54.4 in December from a final reading of 54.7 in November. Analysts were expecting the index to rise to 54.9 this month. The Federal Reserve Bank of New York reported earlier that its Empire State manufacturing index came in at 0.98 in December compared to November's -2.21 reading, though analysts were expecting the index to rise to 4.75. USD/JPY hit session lows of 102.65, down from Friday’s five year highs of 103.91, and was last down 0.22% to 102.98. Investors remained cautious ahead of the outcome of the Fed’s upcoming policy meeting on Wednesday, with some expecting the bank to announce a small reduction in the pace of its USD85 billion-a-month asset purchase program. EUR/USD hit session highs of 1.3798, and was last up 0.30% to 1.3782, near the two month peak of 1.3809 struck last Wednesday
HOURLY EURUSD CHART
ANALYSIS EURUSD LOOKS DOWNSIDE TREND: SIDEWAYS STRATEGY: BUY AROUND SUPPORT SELL AROUND RESISTANCE RESISTANCE: 1.3775 SUPPORT: 1.3740
HOURLY USDJPY CHART
ANALYSIS USDJPY LOOKS DOWNSIDE TREND: BEARISH STRATEGY: BUY AROUND SUPPORT SELL AROUND RESISTANCE RESISTANCE: 103.35 SUPPORT: 102.40
HOURLY EURGBP CHART
ANALYSIS USD/CHF LOOKS DOWNSIDE TREND: BEARISH STRATEGY: BUY AROUND SUPPORT SELL AROUND RESISTANCE RESISTANCE: 0.8910 SUPPORT: 0.8830
HOURLY EURGBP CHART
ANALYSIS USD/CAD LOOKS UPSIDE TREND: BULLISH STRATEGY: BUY AROUND SUPPORT SELL AROUND RESISTANC RESISTANCE: 1.0630 SUPPORT: 1.0575
HOURLY GBPUSD CHART
ANALYSIS GBPUSD LOOKS DOWNSIDE TREND: BEARISH STRATEGY: BUY AROUND SUPPORT SELL AROUND RESISTANCE RESISTANCE: 1.6360 SUPPORT: 1.6290
ECONOMIC CALLENDER Time
Cur.
Imp.
Event
Actual
Forecast
Previous
03:15:00 AM
NZD
MEDIUM
Current Account
-4.30B
-1.25B
04:00:00 AM
AUD
MEDIUM
RBA Governor Stevens Speaks
05:20:00 AM
JPY
MEDIUM
Adjusted Trade Balance
-1.19T
-1.07T
05:20:00 AM
JPY
MEDIUM
Trade Balance
-1,320B
-1,091B
02:30:00 PM
EUR
MEDIUM
German Business Expectations
106.5
106.3
02:30:00 PM
EUR
MEDIUM
German Current Assessment
112.5
112.2
02:30:00 PM
EUR
HIGH
German Ifo Business Climate Index
109.5
109.3
03:00:00 PM
GBP
MEDIUM
Average Earnings Index +Bonus
0.80%
0.70%
03:00:00 PM
GBP
HIGH
Claimant Count Change
-35.0K
-41.7K
03:00:00 PM
GBP
HIGH
MPC Meeting Minutes
03:00:00 PM
GBP
MEDIUM
Unemployment Rate
7.60%
7.60%
04:30:00 PM
GBP
MEDIUM
CBI Distributive Trades Survey
10
1
07:00:00 PM
CAD
MEDIUM
Wholesale Sales (MoM)
0.40%
0.20%
07:00:00 PM
USD
MEDIUM
Building Permits (MoM)
-4.70%
6.70%
07:00:00 PM
USD
MEDIUM
Building Permits
0.990M
1.039M
07:00:00 PM
USD
MEDIUM
Housing Starts
0.950M
0.890M
12/18/13
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