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DAILY IFOREX REPORT 31 JANUARY 2014 TRADING TIPS

BUY USD-CAD ABOVE 1.1200 TGT 1.1225,1.1260 SL 1.1160 SELL EUR-USD BELOW 1.3540 TGT 1.3515 ,1.3480 SL 1.3580


HEADLINES

Name

Last

EUR/USD

1.355

USD/JPY

102.85

GBP/USD

1.6488

USD/CHF

0.9041

AUD/USD

0.877

USD/CAD

1.1167

NZD/USD

0.8131

EUR/CHF

1.2249

EUR/JPY

139.365

EUR/GBP

0.8219

EUR/AUD

1.5451

GBP/CHF

1.4904

GBP/JPY

169.542

GBP/CAD

1.8412

GBP/AUD

1.8799

AUD/JPY

90.1835

CAD/JPY

92.1

CHF/JPY

113.755

NZD/JPY

83.6185

AUD/CAD

0.9794

AUD/CHF

0.7928

Forex - EUR/USD drops as robust U.S. growth rate sparks dollar rally

Forex - Euro at session lows against dollar after U.S. data

Forex - USD/CAD steady at 4-1/2 year highs

EUR/USD was trading at 1.3547, down 0.86%, up from a session low of 1.3544 and off a high of 1.3685.The pair was likely to find support at 1.3529, the low from Jan. 23, and resistance at 1.3717, Monday's high.The dollar rallied after the Commerce Department said gross domestic product expanded 3.2% in the three months to December, in line with most forecasts, even outpacing some, following a 4.1% rise in the third quarter. Consumer spending rose by 3.3%, the strongest since the fourth quarter of 2010, while exports grew by 11.4%.The data strengthened the dollar by cementing market expectations for the Federal Reserve to continue trimming its monthly bond-buying program, which weakens the greenback pushing down long-term interest rates. USD/CAD hit 1.1199, the highest level since July 2009 and was last down 0.04% to 1.1162. The pair was likely to find support at 1.1101, Wednesday’s low and resistance at 1.1350.The Commerce Department said gross domestic product expanded 3.2% in the three months to December, in line with forecasts, compared to a 4.1% rise in the third quarter.Consumer spending rose by 3.3%, the strongest since the fourth quarter of 2010 while exports grew by 11.4%.A separate report showed that weekly jobless claims rose more than forecast. The Labor Department said the number of people who filed for unemployment assistance in the U.S. last week rose by 19,000 to 348,000 from the previous week’s revised total of 329,000.


HOURLY EURUSD CHART

ANALYSIS EURUSD LOOKS DOWNSIDE TREND: BEARISH STRATEGY: BUY ABOVE RESISTANCE SELL BELOW SUPPORT RESISTANCE: 1.3585 SUPPORT: 1.3520


HOURLY USDJPY CHART

ANALYSIS USDJPY LOOK UPSIDE TREND: BEARISH STRATEGY: BUY ABOVE RESISTANCE SELL BELOW SUPPORT RESISTANCE: 102.95 SUPPORT: 102.30


HOURLY EURGBP CHART

ANALYSIS USD/CHF LOOKS UPSIDE TREND: BULLISH STRATEGY: BUY ABOVE RESISTANCE SELL BELOW SUPPORT RESISTANCE: 0.9085 SUPPORT: 0.8985


HOURLY EURGBP CHART

ANALYSIS USD/CAD LOOKS DOWNSIDE TREND: BULLISH STRATEGY: BUY ABOVE RESISTANCE SELL BELOW SUPPORT RESISTANCE: 1.1200 SUPPORT: 1.1160


HOURLY GBPUSD CHART

ANALYSIS GBPUSD LOOKS DOWNSIDE TREND: BEARISH STRATEGY: BUY ABOVE RESISTANCE SELL BELOW SUPPORT RESISTANCE: 1.6520 SUPPORT: 1.6430


ECONOMIC CALLENDER MEDIUM

Cur.

Imp.

Event

Actual

Forecast

Previous

06:00:00 AM

  AUD

MEDIUM

PPI (QoQ)

 

0.90%

1.30%

06:00:00 AM

  AUD

MEDIUM

Private Sector Credit (MoM)

 

0.40%

0.30%

12:30:00 PM

  EUR

MEDIUM

German Retail Sales (MoM)

 

0.20%

1.50%

01:15:00 PM

  EUR

MEDIUM

French Consumer Spending (MoM)

 

-0.40%

1.40%

02:30:00 PM

  NOK

MEDIUM

Norwegian Core Retail Sales (MoM)

 

0.30%

0.50%

03:30:00 PM

  EUR

MEDIUM

Core CPI (YoY) 

 

0.80%

0.70%

03:30:00 PM

  EUR

MEDIUM

CPI (YoY) 

 

0.90%

0.80%

03:30:00 PM

  EUR

MEDIUM

Unemployment Rate

 

12.10%

12.10%

07:00:00 PM

  CAD

MEDIUM

GDP (QoQ)

 

 

0.70%

07:00:00 PM

  CAD

HIGH

GDP (MoM)

 

0.20%

0.30%

07:00:00 PM

  CAD

MEDIUM

GDP Annualized (QoQ)

 

 

2.70%

07:00:00 PM

  USD

MEDIUM

Core PCE Price Index (MoM)

 

0.10%

0.10%

07:00:00 PM

  USD

MEDIUM

Employment Cost Index (QoQ)

 

0.40%

0.40%

07:00:00 PM

  USD

MEDIUM

Personal Spending (MoM)

 

0.20%

0.50%

08:15:00 PM

  USD

MEDIUM

Chicago PMI

 

59

59.1

08:25:00 PM

  USD

MEDIUM

Michigan Consumer Sentiment

 

81

80.4

01/31/14


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Daily i forex report by epic research singapore 31 jan 2014