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DAILY IFOREX REPORT

29
JANUARY 2014
TRADING TIPS

BUY USD-CAD ABOVE 1.1180 TGT
1.1205,1.1240 SL 1.1140
SELL USD-CAD BELOW 1.1020 TGT
1.0995 ,1.0960 SL 1.1065

HEADLINES

Name

Last

EUR/USD

1.367

USD/JPY

102.727

GBP/USD

1.6599

USD/CHF

0.8975

AUD/USD

0.8797

USD/CAD

1.1162

EUR/CHF

1.2269

EUR/JPY

140.435

EUR/GBP

0.8236

EUR/AUD

1.554

GBP/CHF

1.4899

GBP/JPY

170.5165

GBP/CAD

1.8529

GBP/AUD

1.8869

AUD/JPY

90.38

CAD/JPY

92.0295

CHF/JPY

114.4635

NZD/JPY

85.039

AUD/CAD

0.982

AUD/CHF

0.7895

AUD/SGD

1.1212

Forex - USD/JPY trims gains after dire U.S. durables data

Forex - GBP/USD fluctuates after U.K. GDP report

Forex - European stocks remain higher ahead of Fed meeting; Dax up 0.4%

USD/JPY was last up just 0.12% to 102.67, down from session highs of 103.25.
The pair is likely to find support at 102.00 and resistance at 103.30.
Durable goods orders tumbled 4.3% last month the Commerce Department said,
confounding expectations for a 1.8% gain. Orders for durable goods in November
were revised to a 2.6% increase from a previously reported gain of 3.4%.
Core durable goods orders, excluding volatile transportation items, fell1.6% in
December, the largest drop since March, compared to forecasts for a 0.5% increase.
Orders for core capital goods, a key barometer of private-sector business
investment, fell 1.3% last month, confounding expectations for a 0.5% gain and after
rising 2.6% in November.
The unexpectedly poor data did little to alter expectations that the Federal Reserve
will continue to reduce stimulus measures.
Investors were anticipating Wednesday’s policy statement by the Fed amid
expectations that the bank will cut its asset purchase program by another $10
billion, to $75 billion per month. The central bank announced the first cut to its
stimulus program in December.
GBP/USD hit 1.6626, the highest since Friday and was last up just 0.02% to 1.6585.
The pair touched session lows of 1.6552 immediately following the release of the
data.Cable was likely to find support at 1.6472, Monday’s low and resistance at
1.6667, Friday’s high and an almost two-and-a-half year high.

HOURLY EURUSD CHART

ANALYSIS
EURUSD LOOKS UPSIDE
TREND: BULLISH
STRATEGY:
BUY ABOVE RESISTANCE
SELL BELOW SUPPORT
RESISTANCE: 1.3700
SUPPORT: 1.3620

HOURLY USDJPY CHART

ANALYSIS
USDJPY LOOK DOWNSIDE
TREND: BEARISH
STRATEGY:
BUY ABOVE RESISTANCE
SELL BELOW SUPPORT
RESISTANCE: 103.25
SUPPORT: 102.05

HOURLY EURGBP CHART

ANALYSIS
USD/CHF LOOKS DOWNSIDE
TREND: BEARISH
STRATEGY:
BUY ABOVE RESISTANCE
SELL BELOW SUPPORT
RESISTANCE: 0.9010
SUPPORT: 0.8945

HOURLY EURGBP CHART

ANALYSIS
USD/CAD LOOKS UPSIDE
TREND: BULLISH
STRATEGY:
BUY ABOVE RESISTANCE
SELL BELOW SUPPORT
RESISTANCE: 1.1180
SUPPORT: 1.1120

HOURLY GBPUSD CHART

ANALYSIS
GBPUSD LOOKS UPSIDE
TREND: BULLISH
STRATEGY:
BUY ABOVE RESISTANCE
SELL BELOW SUPPORT
RESISTANCE: 1.6650
SUPPORT: 1.6565

ECONOMIC CALLENDER
MEDIUM

Cur.

Imp.

Event

Actual

Forecast

Previous

03:00:00 AM

  USD

LOW

API Weekly Crude Stock

 

 

4.86M

03:00:00 AM

  USD

LOW

API Weekly Distillates
Stocks

 

 

-2.290M

03:00:00 AM

  USD

LOW

API Weekly Gasoline
Stock

 

 

1.110M

05:00:00 AM

  AUD

LOW

MI Leading Index (MoM)

 

 

-0.10%

12:30:00 PM

  EUR

MEDIUM

GfK German Consumer
Climate

 

7.6

7.6

12:30:00 PM

  GBP

MEDIUM

Nationwide HPI (MoM)

 

0.60%

1.40%

01:30:00 PM

  EUR

LOW

Spanish Retail Sales
(YoY)

 

2.10%

1.90%

02:30:00 PM

  EUR

LOW

M3 Money Supply (YoY)

 

1.70%

1.50%

02:30:00 PM

  EUR

LOW

Private Loans (YoY)

 

-2.30%

-2.30%

02:30:00 PM

  EUR

LOW

Italian Business
Confidence

 

98.7

98.2

03:40:00 PM

  EUR

LOW

Italian 6-Month BOT
Auction

 

 

0.83%

04:05:00 PM

  EUR

MEDIUM

German 10-Year Bund
Auction

 

 

1.69%

05:30:00 PM

  USD

LOW

MBA 30-Year Mortgage
Rate

 

 

4.57%

05:30:00 PM

  USD

LOW

MBA Mortgage
Applications (WoW)

 

 

4.70%

05:45:00 PM

  GBP

MEDIUM

BoE Gov Carney Speaks  

 

 

 

09:00:00 PM

  USD

LOW

EIA Weekly Distillates
Stocks

 

-2.367M

-3.212M

09:00:00 PM

  USD

LOW

Gasoline Inventories

 

1.833M

2.123M

01/29/14

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