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DAILY IFOREX REPORT 07 JANUARY 2014 TRADING TIPS

SELL GBP-USD BELOW 1.6360 TGT 1.6325,1.6290 SL1.6495 SELL EUR-USDY BELOW 1.3590 TGT 1.3565 ,1.3530 SL 1.3630


HEADLINES

Name

Last

EUR/USD

1.3604

USD/JPY

104.6

GBP/USD

1.6378

USD/CHF

0.9047

AUD/USD

0.8953

USD/CAD

1.0639

NZD/USD

0.8275

USD/SGD

1.2684

EUR/JPY

142.305

EUR/GBP

0.8306

EUR/AUD

1.5194

GBP/CHF

1.4818

GBP/JPY

171.2955

GBP/CAD

1.7422

GBP/AUD

1.8292

AUD/JPY

93.647

CAD/JPY

98.3145

CHF/JPY

115.62

NZD/JPY

86.542

AUD/CAD

0.9525

AUD/CHF

0.8101

AUD/SGD

1.1357

Forex - Dollar steady to lower vs. rivals in cautious trade

Forex - Pound hits session lows after U.K. services PMI slows

Forex - Dollar steady to lower vs. rivals in cautious trade

USD/JPY fell to session lows of 104.15, and was last down 0.27% to 104.56. Japan’s Nikkei dropped 2.35% on Monday after data over the weekend showed that activity in China’s services sector slumped to the weakest level since August 2011 in December, fuelling concerns over the outlook for growth in the world’s second largest economy. The euro recovered from four week lows against the dollar, with EUR/USD rising 0.18% to 1.3614. In the euro zone, data released on Monday showed that the bloc’s services purchasing managers’ index came in at 51.0 in December, unchanged from the preliminary estimate and down slightly from 51.2 in November. Separate reports showed that activity in Spain’s private sector expanded at the fastest rate in 77 months, but activity in France and Italy contracted last month. GBP/USD slipping 0.19% to 1.6386. The pair initially touched session lows of 1.6338 after data showed that the U.K. services PMI declined to a six month low of 58.8 in December from 60.0 in November.Despite the slowdown the index still remained well above the 50.0 level that indicates expansion. The report said confidence rose and the economy still looks likely to have expanded strongly in the fourth quarter EUR/USD added 0.13% to 1.3606.Markit research group said the euro zone's final services purchasing managers' index came in at 51.0 in December, unchanged from the preliminary estimate and down slightly from 51.2 in November. Germany's services PMI fell to 53.5 last month, from a reading of 54.0 in November, compared to expectations for the index to remain unchanged. In Spain, the services PMI rose to a six-and-a-half year high of 54.2 in December, from a reading of 51.5 the previous month. Analysts had expected the index to remain unchanged


HOURLY EURUSD CHART

ANALYSIS EURUSD LOOKS DOWNSIDE TREND: BEARISH STRATEGY: BUY AROUND SUPPORT SELL AROUND RESISTANCE RESISTANCE: 1.3650 SUPPORT: 1.3590


HOURLY USDJPY CHART

ANALYSIS USDJPY LOOK DOWNSIDE TREND: BEARISH STRATEGY: BUY AROUND SUPPORT SELL AROUND RESISTANCE RESISTANCE: 105.00 SUPPORT: 104.30


HOURLY EURGBP CHART

ANALYSIS USD/CHF LOOKS UPSIDE TREND: BULLISH STRATEGY: BUY AROUND SUPPORT SELL AROUND RESISTANCE RESISTANCE: 0.9070 SUPPORT: 0.9030


HOURLY EURGBP CHART

ANALYSIS USD/CAD LOOKS DOWNSIDE TREND: BEARISH STRATEGY: BUY AROUND SUPPORT SELL AROUND RESISTANC RESISTANCE: 1.0660 SUPPORT: 1.0630


HOURLY GBPUSD CHART

ANALYSIS GBPUSD LOOKS DOWNSIDE TREND: BEARISH STRATEGY: BUY AROUND SUPPORT SELL AROUND RESISTANCE RESISTANCE: 1.6460 SUPPORT: 1.6360


ECONOMIC CALLENDER Time

Cur.

Imp.

Event

Actual

Forecast

Previous

01/07/14 03:15:00 AM

  NZD

Trade Balance

 

-26M

-168M

06:00:00 AM

  AUD

Exports (MoM)

 

 

 

06:00:00 AM

  AUD

Imports (MoM)

 

 

1.00%

06:00:00 AM

  AUD

Trade Balance

 

-0.300B

-0.529B

01:15:00 PM

  EUR

French Consumer Confidence

 

84

84

02:25:00 PM

  EUR

German Unemployment Change

 

-1K

10K

02:25:00 PM

  EUR

German Unemployment Rate

 

6.90%

6.90%

06:15:00 PM

  USD

Chain Store Sales (WoW)

 

 

1.00%

06:15:00 PM

  USD

Chain Store Sales (YoY)

 

 

3.00%

07:00:00 PM

  CAD

Exports

 

41.00B

40.47B

07:00:00 PM

  CAD

Imports

 

41.00B

40.40B

07:00:00 PM

  CAD

Trade Balance

 

 

0.08B

07:00:00 PM

  USD

Trade Balance

 

-40.00B

-40.60B

07:25:00 PM

  USD

Redbook (YoY)

 

 

4.50%

07:25:00 PM

  USD

Redbook (MoM)

 

 

-0.70%

08:30:00 PM

  CAD

Ivey PMI

 

55

53.7

08:30:00 PM

  USD

IBD/TIPP Economic Optimism

 

 

43.1


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Daily i forex report by epic research singapore 07 jan 2014