DAILY IFOREX REPORT

18
DECEMBER 2013
TRADING TIPS

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

Forex - EUR/USD gains on mixed U.S. data, solid European factory gauge

Forex - Dollar lower against yen and euro in subdued trade

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 Fridays five year highs of 103.91, and was last
down 0.22% to 102.98.
Investors remained cautious ahead of the outcome of the Feds 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

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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