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1. DAILY IFOREX REPORT
17
JANUARY 2014
TRADING TIPS
●
●
SELL USD-CAD BELOW 1.0915 TGT
1.0890,1.08955 SL 1.0955
BUY EUR-GBP ABOVE 0.8340 TGT
0.8365 ,0.8400 SL 0.8300

2. HEADLINES
●
Name
EURUSD
1.3609
USD/JPY
1.6333
USD/CHF
0.8787
USD/CAD
1.0932
NZD/USD
0.8305
USD/SGD
1.2732
EUR/GBP
0.8332
EUR/AUD
1.5489
GBP/CHF
1.4825
GBP/JPY
171.047
GBP/CAD
1.7859
GBP/AUD
1.8589
AUD/JPY
92.0135
CAD/JPY
95.773
CHF/JPY
115.3785
NZD/JPY
86.972
AUD/CAD
0.9607
AUD/CHF
0.7975
AUD/SGD
1.1187
Forex - Stronger dollar moves higher against yen
●
Forex - Stronger dollar moves higher against yen
0.9076
AUD/USD
●
104.717
GBP/USD
Forex - Euro edges higher vs. dollar, Weidmann comments support
Last
EUR/USD hit session highs of 1.3628 and was last up 0.10% to 1.3617.
The pair was likely to find support at 1.3552, the low of January 8 and resistance at 1.3675.
The euro found support after Weidmann played down fears over the threat of deflation in
the currency bloc. "In the current economic situation, the risk is of a broad deflation in the
euro zone is limited," he said.
Weidmann, who is the head of Germany’s Bundesbank, said he saw the upswing in the
German economy continuing into this year and the next. The remarks came during a
speech in Berlin. comments came as data confirmed the annual rate of consumer inflation
remained well below the ECB’s 2% target in December.
USD/JPY hit 104.91, the highest since January 10 and was last up 0.15% to 104.73.
The pair was likely to find support at 104.08, Tuesday’s low and resistance at 105.32, the
high of January 10.
Demand for the dollar continued to be underpinned after data released on Wednesday
showed that manufacturing activity in the Empire State expanded at the fastest pace since
May 2012 in January as new orders rose sharply.
A separate report showed that U.S. producer price inflation rose at the strongest rate in
six months in December.
The strong data reinforced expectations that the U.S. economic recovery will continue to
deepen going into this year and offset lingering concerns over last week’s surprising weak
U.S. nonfarm payrolls report

3. HOURLY EURUSD CHART
ANALYSIS
EURUSD LOOKS DOWNSIDE
TREND: BEARISH
STRATEGY:
BUY ABOVE RESISTANCE
SELL BELOW SUPPORT
RESISTANCE: 1.3650
SUPPORT: 1.3600

4. HOURLY USDJPY CHART
ANALYSIS
USDJPY LOOK UPSIDE
TREND: BULLISH
STRATEGY:
BUY ABOVE RESISTANCE
SELL BELOW SUPPORT
RESISTANCE: 104.95
SUPPORT: 104.45

5. HOURLY EURGBP CHART
ANALYSIS
USD/CHF LOOKS DOWNSIDE
TREND: BULLISH
STRATEGY:
BUY ABOVE RESISTANCE
SELL BELOW SUPPORT
RESISTANCE: 0.9090
SUPPORT: 0.9040

6. HOURLY EURGBP CHART
ANALYSIS
USD/CAD LOOKS DOWNSIDE
TREND: BULLISH
STRATEGY:
BUY ABOVE RESISTANCE
SELL BELOW SUPPORT
RESISTANCE: 1.0945
SUPPORT: 1.0915

7. HOURLY GBPUSD CHART
ANALYSIS
GBPUSD LOOKS DOWNSIDE
TREND: BEARISH
STRATEGY:
BUY ABOVE RESISTANCE
SELL BELOW SUPPORT
RESISTANCE: 1.6400
SUPPORT: 1.6310

8. ECONOMIC CALLENDER
MEDIUM
Cur.
Imp.
Event
Actual
Forecast
Previous
01:15:00 PM
EUR
LOW
French Government
Budget Balance
-80.0B
-86.1B
03:00:00 PM
GBP
MEDIUM
Core Retail Sales (MoM)
0.30%
0.40%
03:00:00 PM
GBP
MEDIUM
Core Retail Sales (YoY)
3.20%
2.30%
03:00:00 PM
GBP
MEDIUM
Retail Sales (YoY)
2.60%
2.00%
03:00:00 PM
GBP
HIGH
Retail Sales (MoM)
0.40%
0.30%
07:00:00 PM
USD
MEDIUM
Building Permits (MoM)
0.30%
-2.10%
07:00:00 PM
USD
MEDIUM
Building Permits
1.015M
1.017M
07:00:00 PM
USD
MEDIUM
Housing Starts
0.990M
1.091M
07:00:00 PM
USD
MEDIUM
Housing Starts (MoM)
-8.30%
22.70%
07:45:00 PM
USD
LOW
Capacity Utilization Rate
79.10%
79.00%
07:45:00 PM
USD
MEDIUM
Industrial Production
(MoM)
0.30%
1.10%
08:25:00 PM
USD
MEDIUM
Michigan Consumer
Sentiment
83.5
82.5
08:25:00 PM
USD
LOW
Michigan Current
Conditions
98.5
98.6
08:25:00 PM
USD
LOW
Michigan Inflation
Expectations
3.00%
08:30:00 PM
USD
LOW
JOLTs Job Openings
3.97M
3.93M
09:00:00 PM
USD
LOW
ECRI Weekly Annualized
(WoW)
2.50%
01/17/14

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