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DAILY IFOREX REPORT 23 JANUARY 2014 TRADING TIPS

SELL EUR-USD BELOW 1.3510 TGT 1.3485,1.3450 SL 1.3550 BUY USD-CAD ABOVE 1.1080 TGT 1.1105 ,1.1140 SL 1.1040


HEADLINES

Name

Last

EUR/USD

1.357

USD/JPY

104.455

GBP/USD

1.6569

USD/CHF

0.9098

AUD/USD

0.8869

USD/CAD

1.0955

EUR/CHF

1.2345

EUR/JPY

141.741

EUR/GBP

0.8189

EUR/AUD

1.5304

GBP/CHF

1.5074

GBP/JPY

173.1025

GBP/CAD

1.8155

GBP/AUD

1.8687

AUD/JPY

92.631

CAD/JPY

95.3505

CHF/JPY

114.8295

NZD/JPY

87.038

AUD/CAD

0.9715

AUD/CHF

0.8065

AUD/SGD

1.1334

Forex - Dollar steady, pound higher after fall in U.K. jobless rate

Forex - Euro edges higher against dollar

Forex - GBP/USD at 3-week highs after U.K. jobless rate hits 7.1%

USD/JPY edged up 0.10% to 104.39, up from the lows of 103.97 struck earlier in the session.The yen briefly moved higher after the Bank of Japan kept monetary policy unchanged following its monthly policy meeting on Wednesday and maintained its assessment that Japan's economy "has continued to recover moderately." EUR/USD hit 1.3580, the highest since January 17 and was last up 0.10% to 1.3575. The pair earlier fell to session lows of 1.3535. The pair is likely to find support at 1.3515, Tuesday’s low and resistance at 1.3600. Investor sentiment was boosted after the International Monetary Fund revised up its forecast for global economic growth on Tuesday to 3.7% form 3.6% in October. Meanwhile, concerns over a credit crunch in China continued to ease after the central bank moved to inject liquidity into financial markets earlier in the week. GBP/USD hit 1.6547, the highest since January 2 and was last up 0.39% to 1.6539. Cable is likely to find support at 1.6450, the session low and resistance at 1.6602, the high of January 2 and a 28-month high. The Office for National Statistics said that the rate of unemployment in the U.K. fell to 7.1% in the three months to November, to stand just above the 7% threshold at which the Bank of England has said it would start to consider hiking interest rates. It was the largest drop in unemployment since 1997 the ONS said.


HOURLY EURUSD CHART

ANALYSIS EURUSD LOOKS DOWNSIDE TREND: BEARISH STRATEGY: BUY ABOVE RESISTANCE SELL BELOW SUPPORT RESISTANCE: 1.3580 SUPPORT: 1.3505


HOURLY USDJPY CHART

ANALYSIS USDJPY LOOK UPSIDE TREND: BULLISH STRATEGY: BUY ABOVE RESISTANCE SELL BELOW SUPPORT RESISTANCE: 104.75 SUPPORT: 104.10


HOURLY EURGBP CHART

ANALYSIS USD/CHF LOOKS DOWNSIDE TREND: BULLISH STRATEGY: BUY ABOVE RESISTANCE SELL BELOW SUPPORT RESISTANCE: 0.9130 SUPPORT: 0.9105


HOURLY EURGBP CHART

ANALYSIS USD/CAD LOOKS DOWNSIDE TREND: BULLISH STRATEGY: BUY ABOVE RESISTANCE SELL BELOW SUPPORT RESISTANCE: 1.0985 SUPPORT: 1.0950


HOURLY GBPUSD CHART

ANALYSIS GBPUSD LOOKS DOWNSIDE TREND: BEARISH STRATEGY: BUY ABOVE RESISTANCE SELL BELOW SUPPORT RESISTANCE: 1.6580 SUPPORT: 1.6530


ECONOMIC CALLENDER MEDIUM

Cur.

Imp.

Event

Actual

Forecast

Previous

10:30:00 AM

 JPY

MEDIUM

BoJ Monthly Report

01:28:00 PM

 EUR

MEDIUM

French Manufacturing PMI

47.5

47

01:28:00 PM

 EUR

MEDIUM

French Services PMI

48.1

47.8

02:00:00 PM

 EUR

HIGH

German Manufacturing PMI

54.6

54.3

02:00:00 PM

 EUR

MEDIUM

German Services PMI

54

53.5

02:30:00 PM

 EUR

MEDIUM

Manufacturing PMI

53

52.7

02:30:00 PM

 EUR

MEDIUM

Services PMI

51.4

51

04:30:00 PM

 GBP

MEDIUM

CBI Distributive Trades Survey

25

34

07:00:00 PM

 CAD

HIGH

Core Retail Sales (MoM)

0.30%

0.40%

07:00:00 PM

 CAD

MEDIUM

Retail Sales (MoM)

0.30%

-0.10%

07:00:00 PM

 USD

MEDIUM

Initial Jobless Claims

326K

326K

08:30:00 PM

 USD

HIGH

Existing Home Sales

4.94M

4.90M

08:30:00 PM

 USD

MEDIUM

Existing Home Sales (MoM)

0.40%

-4.30%

01/23/14


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Daily iforex report by epic research singapore 23 jan 2014  
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