This daily forex report from November 7th provides trading tips and analysis on various currency pairs. It recommends buying EUR/USD above 1.3540 and selling USD/CHF below 0.9100. The headlines discuss rising UK and German manufacturing data that increased the pound and euro. The economic calendar lists upcoming economic data releases and their predicted impact on currencies. Charts provide technical analysis for EURUSD, USDJPY, GBPUSD, and EURGBP.

1. DAILY IFOREX REPORT
07th
NOVEMBER 2013
TRADING TIPS
●
●
BUY EUR/USD ABOVE 1.3540 TGT
1.3560/1.3590 SL1.3510
SELL USD/CHF BELOW 0.9100 TGT
0.9080/0.9050 SL 0.9125

2. HEADLINES
●
●
U.K. manufacturing production rises 1.2% in September; pound gains
●
Name
German factory orders climb 3.3% in September; euro spikes
Euro zone retail sales fall 0.6% in September
Last
EUR/USD
1.3516
USD/JPY
98.6250
GBP/USD
1.6086
USD/CHF
0.9116
AUD/USD
0.9530
USD/CAD
1.0439
EUR/CHF
1.2323
EUR/JPY
133.2980
EUR/GBP
0.8402
GBP/CHF
1.4664
GBP/JPY
158.6445
GBP/CAD
1.6793
GBP/AUD
1.6877
AUD/JPY
93.9975
CAD/JPY
94.4725
CHF/JPY
108.1830
AUD/CAD
0.9950
AUD/CHF
0.8690
USD/JPY gained 0,08% marching back towards the 100 range after the release of BoJ minutes this
morning implied that the bank is serious about adding additional stimulus to help offset the sales tax
increase and to keep the government turned towards inflation. Bank of Japan Governor Haruhiko
Kuroda voiced confidence on Tuesday that the economies of China and the U.S., Japan’s two big
export markets, will continue to recover and help achieve the central bank’s 2 percent inflation
target.
AUD/USD gained 0,42% as the US dollar slipped this morning. Over the past week as traders
focused on the FOMC meeting and began to worry about tapering traders had a sneak preview into
what happens when the US begins to taper its money printing via quantitative easing. And there are
also some early signs that China may be changing direction.
EUR/JPY climbed to trade after the Bank of Japan minutes release. Euro traders remained troubled
by speculation that the European Central Bank could be persuaded to reduce rates in the near
future in light of the increasingly soft inflationary outlook, however, the market consensus is that the
ECB will not rush into a decision at this Thursday’s meeting, but still pushed the euro stronger this
morning as the JPY tumbled on a very dovish release of minutes.

3. HOURLY EURUSD CHART
ANALYSIS
EURUSD LOOKS DOWNSIDE
TREND: BEARISH
STRATEGY:
SELL BELOW SUPPORT
BUY ABOVE RESISTANCE
RESISTANCE: 1.3540
SUPPORT: 1.3445

4. HOURLY USDJPY CHART
ANALYSIS
USDJPY LOOKS UPSIDE
TREND: BULISH
STRATEGY: BUY ON DIPS
RESISTANCE: 98.85
SUPPORT: 98.40

5. HOURLY GBPUSD CHART
ANALYSIS
GBPUSD LOOKS SIDEWAYS
TREND: CONSOLIDAT
STRATEGY: SELL ON HIGH
RESISTANCE: 1.6117
SUPPORT: 1.6032

6. HOURLY EURGBP CHART
ANALYSIS
EURGBP LOOKS DOWNSIDE
TREND: BEARISH
STRATEGY: SELL ON HIGH
RESISTANCE: 0.8445
SUPPORT: 0.8380

7. HOURLY USD INDEX CHART
ANALYSIS
GBPUSD LOOKS SIDEWAYS
TREND: CONSOLIDATE
STRATEGY:
SELL BELOW SUPPORT
BUY ABOVE RESISITANCE
RESISTANCE: 80.866
SUPPORT: 80.182

8. ECONOMIC CALLENDER
Time
Cur.
Imp.
Event
Actual
Forecast
Previous
Thursday, November 7
04:00:00
AUD
LOW
AIG Construction Index
47.6
06:00:00
AUD
HIGH
Employment Change
10.0K
9.1K
06:00:00
AUD
MIDIUM
Unemployment Rate
5.7%
5.6%
10:30:00
JPY
LOW
Leading Index
109.4
106.8
12:15:00
CHF
MIDIUM
SECO Consumer Climate
-4
-9
13:30:00
EUR
LOW
Spanish Industrial Production (YoY)
-1.5%
-2.0%
16:30:00
BRL
MIDIUM
Brazilian CPI (YoY)
5.87%
5.86%
16:30:00
EUR
MIDIUM
German Industrial Production (MoM)
-0.2%
1.4%
17:30:00
GBP
MIDIUM
BoE QE Total
375B
375B
17:30:00
GBP
HIGH
Interest Rate Decision
0.50%
0.50%
18:15:00
EUR
HIGH
Interest Rate Decision
0.50%
0.50%
19:00:00
EUR
HIGH
ECB Press Conference
19:00:00
USD
MIDIUM
Continuing Jobless Claims
2,875K
2,881K
19:00:00
USD
HIGH
GDP (QoQ)
2.0%
2.5%
19:00:00
USD
MIDIUM
GDP Price Index (QoQ)
1.4%
0.6%
19:00:00
USD
HIGH
Initial Jobless Claims
335K
340K
19:00:00
USD
LOW
Real Consumer Spending
1.6%
1.8%
19:30:00
MXN
MIDIUM
Mexican CPI (YoY)
3.34%
3.39%
20:15:00
USD
LOW
Bloomberg Consumer Confidence
-37.6
21:00:00
USD
LOW
Natural Gas Storage
38B
22:30:00
USD
LOW
Chain Store Sales (YoY)
5.1%

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