Daily i-forex-report-1 by epic research 08.04.13

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The Euro finished the week strong, posting a massive gain of +4.70% against the Japanese Yen, while adding a less but still commendable +1.32% against the US Dollar.
Japanese Yen Meltdown Sets us Up for Good Trades Ahead
What a week for the Japanese Yen. The JPY traded to fresh monthly highs ahead of the heavily-anticipated Bank of Japan rate decision, but a shocking BOJ result forced the USDJPY to its biggest two-day surge since the heights of the financial crisis in 2008.

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Daily i-forex-report-1 by epic research 08.04.13

  1. 1. DAILY I FOREX REPORT 8THAPRIL 2013WWW.EPICRESEARCH.CO +91 9752199966
  2. 2. HEADLINES  Dollar Looks For Follow Through On S&P 500 Drop, Fed’s QE3 Shift  Fan Of GE And Other Blue Chips? Don’t Get Blindsided By Currency Risk. TRADING TIPS  Trading Yen Crosses From  BUY EURUSD ABOVE Here; Wait For Downside ’Surprises’ 1.3040 tgs 1.3060/1.3080sl 1.3010 Forex Trading Weekly Forecast 04.08.2013 Dollar Overbought but Weak Yen, QE3 Tapering May Keep it That Way The dollar’s performance this past week was something of a mixed bag given the  BUY USDJPY ABOVE heavy fundamental crosswinds from other central bank decisions. Euro Tone Changes as ECB Flexes Muscles Once Again 97.85 tgt 98.05/98.25 The Euro finished the week strong, posting a massive gain of +4.70% against the Japanese Yen, while adding a less but still commendable +1.32% against the US SL 97.55 Dollar. Japanese Yen Meltdown Sets us Up for Good Trades Ahead What a week for the Japanese Yen. The JPY traded to fresh monthly highs ahead of the heavily-anticipated Bank of Japan rate decision, but a shocking BOJ result  BUY GBPUSD ABOVE forced the USDJPY to its biggest two-day surge since the heights of the financial crisis in 2008. British Pound Breaks Out- BoE Policy Fosters Bullish Outlook 1.5365 Tgt The British Pound broke out of the range carried over from the previous week, with the GBPUSD climbing to a fresh monthly high of 1.5362, and the sterling may 1.5385/1.5405 SL continue to retrace the sharp decline from earlier this year as the Bank of England (BoE) maintains a neutral stance for monetary policy. 1.5335 Gold Saved by Dismal NFPs- Opening Range Threaten March Highs Gold is softer at the close of trade this week with the precious metal off by nearly 1.5% to trade at $1573 in New York on Friday. Price action this week saw a surge in volatility with bullion testing the critical support range between $1550- $1555 noted last week. Australian Dollar Aims Higher as Data Dents Rate CutWWW.EPICRESEARCH.CO Outlook +91 9752199966 Australian Dollar volatility was relatively subdued last week compared to the other major currencies but a
  3. 3.  HOURLY EURUSD CHART HOURLY EURUSD CHART ANALYSISOPEN: 1.2926HIGH: 1.3040LOW: 1.2900CLOSE: 1.2991  EURUSD LOOKS UPWARD  TREND : BULLISH  STRATEGY: BUY ON DIPS  MACD =>-.0005(BULLISH SIGNAL)  RSI => 41(BULLISH SIGNAL)
  4. 4. HOURLY USDJPY CHART  HOURLY USDJPY CHARTANALYSISOPEN: 96.42HIGH: 97.83LOW: 95.72CLOSE: 97.52  USDJPY LOOKS UPWARD  TREND: BULLISH  STRATEGY: BUY ON DIPS  MACD => -0.07( BULLIISH SIGNAL)  RSI =>68(BULLISH SIGNAL)
  5. 5.  HOURLY GBPUSD CHART HOURLY GBPUSD CHARTANALYSISOPEN: 1.5224HIGH: 1.5363LOW: 1.5199CLOSE: 1.5335  GBPUSD LOOKS UPWARD  TREND: BULLISH  STRATEGY: BUY ON DIPS  MACD => .002( BULLISH SIGNAL)  RSI => 70(BULLISH SIGNAL)
  6. 6. HOURLY EURGBP CHART HOURLY EURGBP CHARTANALYSISOPEN: 0.8490HIGH: 0.8515LOW: 0.8469CLOSE: 0.8470  EURGBP LOOKS DOWNWARDS  TREND: BEARISH  STRATEGY: SELL ON RISE  MACD =>-.003(BEARISH SIGNAL)  RSI =>41(BEARISH SIGNAL)www.epicresearch.co + 91 9752199966
  7. 7. HOURLY USDINDEX CHARTANALYSISOPEN: 82.7570HIGH: 82.8930LOW: 82.2730CLOSE: 82.4960  USDINDEX LOOKS DOWNWARD  TREND: BEARISH  STRATEGY: SELL ON RISE  MACD =>0.22(BEARISH SIGNAL)  RSI =>39(BEARISH SIGNAL)
  8. 8. ECONOMIC CALENDER Date Time Currency Event Importance Actual Forecast Previous Notes JPY Tankan Large SunMar 31 23:50 Manufacturers Outlook High -1 1 -10 (1Q) JPY Tankan Non- 23:50 Manufacturing Outlook High 9 11 3 (1Q) JPY Tankan Large All 23:50 Medium -2.0% 5.0% 6.8% Industry Capex (1Q) JPY Tankan Large 23:50 Manufacturers Index Medium -8 -7 -12 (1Q) JPY Tankan Non- 23:50 Manufacturing Index Medium 6 8 4 (1Q) JPY Loans & Discounts 23:50 Low 1.42% 1.34% Corp (YoY) (FEB)Mon CNY ManufacturingApr 1 01:00 High 50.9 51.2 50.1 PMI (MAR) CNY HSBC 01:45 Manufacturing PMI Medium 51.6 51.6 50.4 (MAR) CNY Leading Index 04:39 Low 100.23 100.50 (FEB) JPY Vehicle Sales 05:00 Low -15.6% -12.2% (YoY) (MAR) USD Markit US PMI 12:58 Low 54.6 55.0 54.9 Final (MAR) USD ISM 14:00 High 51.3 54.0 54.2 Manufacturing (MAR) USD Construction 14:00 Medium 1.2% 1.0% -2.1% Spending (MoM) (FEB) USD ISM Prices Paid 14:00 Medium 54.5 60.0 61.5 (MAR) AUD AiG Performance 22:30 of Manufacturing Index Medium 44.4 45.6 (MAR) AUD RPData-Rismark 23:00 House PX Actual Low 1.3% 0.3% (MAR) GBP Lloyds Business 23:01 Low 20 13 Barometer (MAR) JPY Monetary Base 23:50 Low 19.8% 15.0% (YoY) (MAR)
  9. 9. Tue NZD ANZ CommodityApr 2 00:00 Low 7.4% 1.1% Price (MAR) JPY Labor Cash 01:30 Medium -0.7% -0.2% 0.1% Earnings (YoY) (FEB) AUD Reserve Bank of 03:30 Australia Rate Decision High 3.00% 3.00% 3.00% (APR 2) AUD RBA Commodity 05:30 Index SDR (YoY) Low -7.5% -6.5% (MAR) AUD RBA Commodity 05:30 Low 87.9 87.9 Price Index (MAR) CHF SVME-Purchasing 07:30 Medium 48.3 50.4 50.8 Managers Index (MAR) EUR Italian Purchasing 07:45 Manager Index Low 44.5 45.3 45.8 Manufacturing (MAR) EUR French Purchasing Manager 07:50 Low 44.0 43.9 43.9 Index Manufacturing (MAR F) EUR German Purchasing Manager 07:55 Medium 49.0 48.9 48.9 Index Manufacturing (MAR F) EUR Euro-Zone Purchasing Manager 08:00 Medium 46.8 46.6 46.6 Index Manufacturing (MAR F) EUR Italian 08:00 Unemployment Rate Medium 11.6% 11.8% 11.7% s.a. (FEB P) GBP Mortgage 08:30 Medium 51.7K 53.7K 54.2K Approvals (FEB) GBP Net Consumer 08:30 Medium 0.6B 0.4B 0.5B Credit (FEB) GBP Net Lending Sec. 08:30 Medium 0.9B 0.4B 0.3B on Dwellings (FEB) GBP Purchasing 08:30 Manager Index Medium 48.3 48.7 47.9 Manufacturing (MAR) GBP M4 Ex IOFCs 3M 08:30 Low 3.1% 5.0% 5.8% Annualised (FEB) GBP M4 Money Supply 08:30 Low -0.5% 0.9% (MoM) (FEB) GBP M4 Money Supply 08:30 Low 0.5% -0.8% (YoY) (FEB) EUR Euro-Zone 09:00 Unemployment Rate Medium 12.0% 12.0% 12.0% (FEB) EUR ECBs Kranjec Presents Slovenia 10:00 Low Economy Outlook, Banks EUR German 12:00 Consumer Price Index - High 1.7% 1.8% EU Harmonised (YoY)
  10. 10. (MAR P) EUR German 12:00 Consumer Price Index High 1.3% 1.5% (YoY) (MAR P) EUR German Consumer Price Index - 12:00 Medium 0.3% 0.8% EU Harmonised (MoM) (MAR P) EUR German 12:00 Consumer Price Index Medium 0.4% 0.6% (MoM) (MAR P) USD ISM New York 13:45 Low 58.8 (MAR) USD Factory Orders 14:00 Medium 2.9% -2.0% (FEB) USD IBD/TIPP 14:00 Economic Optimism Low 45.5 42.2 (APR) (APR) EUR ECBs Coeure 15:20 Speaks in Washington Low DC USD Feds Kocherlakota Speaks 17:00 Low on Monetary Policy in North Dakota USD Feds Lockhart 17:30 Low Speaks in Alabama USD Domestic Vehicle 21:00 Low 12.04M 11.99M Sales (MAR) USD Total Vehicle 21:00 Low 15.30M 15.33M Sales (MAR) GBP BRC Shop Price 23:01 Low 1.10% Index (YoY) (MAR) USD Feds Evans, Lacker Speak on 23:30 Low Monetary Policy in RichmondWed AUD HIA New HomeApr 3 00:00 Medium 4.2% Sales (MoM) (FEB) GBP Halifax House Low 1.1% 1.9% Price (3MoY) (MAR) GBP Halifax Plc House Prices s.a. (MoM) Low 0.2% 0.5% (MAR) AUD Trade Balance 00:30 (Australian dollar) Medium -1000M -1057M (FEB) CNY Non- 01:00 manufacturing PMI Medium 54.5 (MAR) CNY HSBC Services 01:45 Medium 52.1 PMI (MAR) GBP Purchasing 08:30 Manager Index Medium 48.0 46.8 Construction (MAR)
  11. 11. EUR Euro-Zone 09:00 Consumer Price Index Medium 1.6% 1.8% Estimate (YoY) (MAR) USD MBA Mortgage 11:00 Low 7.7% Applications (MAR 29) USD ADP Employment 12:15 Medium 200K 198K Change (MAR) USD ISM Non- 14:00 Manufacutring Medium 55.6 56 Composite (MAR) USD DOE Cushing OK 14:30 Crude Inventory (MAR Low 439K 29) USD DOE U.S. Crude 14:30 Oil Inventories (MAR Low 2250K 3256K 29) USD DOE U.S. 14:30 Distillate Inventory Low -750K -4513K (MAR 29) USD DOE U.S. 14:30 Gasoline Inventories Low -1000K -1596K (MAR 29) USD Feds Williams 19:30 Speaks on Monetary Low Policy in Los Angeles USD Feds Bullard to 21:00 Introduce Lecture in St. Low Louis AUD AiG Performance 22:30 Medium 48.5 of Service Index (MAR) JPY Foreign Buying 23:50 Japan Bonds (Yen) Low -¥975.2B (MAR 29) JPY Foreign Buying 23:50 Japan Stocks (Yen) Low -¥267.6B (MAR 29) JPY Japan Buying 23:50 Foreign Bonds (Yen) Low -¥490.5B (MAR 29) JPY Japan Buying 23:50 Foreign Stocks (Yen) Low -¥640.2B (MAR 29)Thu JPY Bank of JapanApr 4 High 0.10% 0.10% Rate Decision (APR 4) AUD Building 00:30 Medium 14.3% 9.9% Approvals (YoY) (FEB) AUD Retail Sales s.a. 00:30 Medium 0.3% 0.9% (MoM) (FEB) AUD Building 00:30 Low 2.5% -2.4% Approvals (MoM) (FEB) EUR Italian Purchasing 07:45 Manager Index Low 43.5 43.6 Services (MAR) EUR French Purchasing Manager 07:50 Low 41.9 41.9 Index Services (MAR F)
  12. 12. EUR German Purchasing Manager 07:55 Medium 51.6 51.6 Index Services (MAR F) EUR Euro-Zone Purchasing Manager 08:00 Medium 46.5 46.5 Index Composite (MAR F) EUR Euro-Zone Purchasing Manager 08:00 Medium 46.5 46.5 Index Services (MAR F) GBP Purchasing 08:30 Manager Index Medium 51.5 51.8 Services (MAR) GBP Official Reserves 08:30 Low -$1333M (Changes) (MAR) EUR Euro-Zone 09:00 Producer Price Index Medium 1.4% 1.9% (YoY) (FEB) EUR Euro-Zone 09:00 Producer Price Index Low 0.2% 0.6% (MoM) (FEB) GBP BOE Asset 11:00 High 375B 375B Purchase Target (APR) GBP Bank of England 11:00 High 0.50% 0.50% Rate Decision (APR 4) USD Challenger Job 11:30 Low 7.0% Cuts (YoY) (MAR) USD RBC Consumer 11:30 Low 47.1 Outlook Index (APR) EUR European Central 11:45 Bank Rate Decision High 0.75% 0.75% (APR 4) EUR ECB Deposit 11:45 Medium 0.00% 0.00% Facility Rate (APR 4) USD Initial Jobless 12:30 Medium 353K 357K Claims (MAR 30) USD Continuing Claims 12:30 Low 3065K 3050K (MAR 23) USD Feds Evans, 12:45 Lockhart Speak on Low Monetary Policy in Ohio USD EIA Natural Gas 14:30 Storage Change (MAR Low -95 29) USD Feds George 16:30 Speaks on Economy in Low Oklahoma USD Feds Yellen 21:00 Low Speaks in Washington JPY Official Reserve 23:50 Low $1258.8B Assets (MAR) GBP New Car FriApr 5 Registrations (YoY) Low 7.9% (MAR)
  13. 13. JPY Bank of Japans05:00 Monthly Economic Medium Report for April (Table) JPY Leading Index05:00 Medium 97.3 95 (FEB P) JPY Coincident Index05:00 Low 91.9 91.6 (FEB P) CHF Foreign Currency07:00 Low 427.0B 430.0B Reserves (MAR) EUR Italian Deficit to08:00 Medium 3.7% GDP (YTD) (4Q) EUR Euro-Zone Retail09:00 High -1.2% -1.3% Sales (YoY) (FEB) EUR Euro-Zone Retail09:00 Medium -0.4% 1.2% Sales (MoM) (FEB) EUR German Factory10:00 Orders n.s.a. (YoY) Medium -1.5% -2.5% (FEB) EUR German Factory10:00 Orders s.a. (MoM) Low 1.1% -2.5% (FEB) CAD Net Change in12:30 High 5.0K 50.7K Employment (MAR) CAD Unemployment12:30 High 7.0% 7.0% Rate (MAR) USD Change in Non-12:30 High 199K 236K farm Payrolls (MAR) USD Unemployment12:30 High 7.7% 7.7% Rate (MAR) CAD Full Time12:30 Employment Change Medium 33.6 (MAR) USD Average Hourly12:30 Earnings All Employees Medium 0.2% 0.2% (MoM) (MAR) USD Average Hourly12:30 Earnings All Employees Medium 2.0% 2.1% (YoY) (MAR) USD Change in12:30 Household Medium 170 Employment (MAR) USD Change in Private12:30 Medium 203K 246K Payrolls (MAR) USD Trade Balance12:30 Medium -$44.6B -$44.4B (FEB) USD Two-Month12:30 Payroll Net Revision Medium -15K (MAR) USD Underemployment12:30 Medium 14.3% Rate (U6) (MAR) CAD International12:30 Merchandise Trade Low 0.10B -0.24B (Canadian dollar) (FEB)
  14. 14. CAD Part Time 12:30 Employment Change Low 17.2 (MAR) CAD Participation Rate 12:30 Low 66.7 66.7 (MAR) USD Average Weekly 12:30 Hours All Employees Low 34.5 34.5 (MAR) USD Change in 12:30 Manufacturing Payrolls Low 10K 14K (MAR) CAD Ivey Purchasing 14:00 Managers Index s.a Medium 52.2 51.1 (MAR) USD Consumer Credit 19:00 Medium $15.000B $16.151B (FEB)www.epicresearch.co + 91 9752199966
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