- The daily forex report provides trading tips to buy GBP-USD above 1.6540 and sell USD-CAD below 1.0630, along with current exchange rates. - US home sales data disappointed expectations, pushing the dollar lower against other major currencies in thin holiday trading. Pending home sales rose 0.2% versus a forecast of 1%. - Analysis of hourly charts shows bullish trends for EURUSD, USDJPY, GBPUSD and bearish trend for USD/CAD, with support and resistance levels provided.

1. DAILY IFOREX REPORT
31
DECEMBER 2013
TRADING TIPS
●
●
BUY GBP-USD ABOVE 1.6540 TGT
1.6565,1.6600 SL1.06500
SELL USD-CAD BELOW 1.0630 TGT
1.0605 ,1.0570 SL 1.0670

2. HEADLINES
Name
Last
EUR/USD
1.3812
USD/JPY
105.044
GBP/USD
1.6526
USD/CHF
0.8865
AUD/USD
0.8918
USD/CAD
1.0653
NZD/USD
0.8199
EUR/CHF
1.2246
EUR/JPY
145.11
EUR/GBP
0.8359
EUR/AUD
1.5489
GBP/CHF
1.465
GBP/JPY
173.5715
GBP/CAD
1.7609
GBP/AUD
1.8533
AUD/JPY
93.625
CAD/JPY
98.5725
CHF/JPY
118.4975
AUD/CAD
0.9502
AUD/CHF
0.7905
AUD/SGD
1.1303
●
Forex - GBP/USD edges higher on U.S. home sales data
●
Forex - EUR/USD extends gains after U.S. data disappoints
●
Forex - USD/CAD edges lower but remains supported
The dollar pushed lower against the other major currencies in holidaythinned trade on Monday, as downbeat U.S. home sales data dampened
demand for the greenback.
Dollar pushes lower vs. rivals on downbeat U.S. data Dollar pushes
lower on U.S. data Trading volumes were thin as many investors already
closed books before the end of the year, reducing liquidity in the market
and increasing volatility, which helped exaggerate market moves.
During U.S. morning trade, EUR/USD gained 0.41% to 1.3801.
In a report, the National Association of Realtors said its pending home
sales index increased by a seasonally adjusted 0.2% last month,
disappointing expectations for a 1% gain. Pending home sales for
October were revised to a 1.2% decline from a previously reported drop
of 0.6%.
The euro also remained supported after European Central Bank
Governing Council member Jens Weidmann on Friday said keeping
interest rates low may endanger political reforms.
According to Germany’s Bild newspaper, Weidmann said low inflation
shouldn’t be used to justify loose monetary policy. "We must take care
to raise interest rates again in a timely manner should inflation
pressures build," he reportedly added

3. HOURLY EURUSD CHART
ANALYSIS
EURUSD LOOKS UPSIDE
TREND: BULLISH
STRATEGY:
BUY AROUND SUPPORT
SELL AROUND RESISTANCE
RESISTANCE: 1.3860
SUPPORT: 1.3780

4. HOURLY USDJPY CHART
ANALYSIS
USDJPY LOOK DOWNSIDE
TREND: BULLISH
STRATEGY:
BUY AROUND SUPPORT
SELL AROUND RESISTANCE
RESISTANCE: 105.20
SUPPORT: 104.60

5. HOURLY EURGBP CHART
ANALYSIS
USD/CHF LOOKS DOWNSIDE
TREND: BULLISH
STRATEGY:
BUY AROUND SUPPORT
SELL AROUND RESISTANCE
RESISTANCE: 0.8880
SUPPORT: 0.8840

6. HOURLY EURGBP CHART
ANALYSIS
USD/CAD LOOKS DOWNSIDE
TREND: BEARISH
STRATEGY:
BUY AROUND SUPPORT
SELL AROUND RESISTANC
RESISTANCE: 1.0660
SUPPORT: 1.0630

7. HOURLY GBPUSD CHART
ANALYSIS
GBPUSD LOOKS UPSIDE
TREND: BULLISH
STRATEGY:
BUY AROUND SUPPORT
SELL AROUND RESISTANCE
RESISTANCE: 1.6550
SUPPORT: 1.6420

8. ECONOMIC CALLENDER
Time
Cur.
Imp.
Event
Actual
Forecast
Previous
All Day
Holiday
Norway - New Year's Eve
All Day
Holiday
Japan - Exchange
Holiday
All Day
Holiday
Germany - New Year's
Eve
All Day
Holiday
Switzerland - New Year's
Day
All Day
Holiday
Italy - New Year's Eve
All Day
Holiday
Spain - New Year's Eve
All Day
Holiday
Indonesia - Exchange
Holiday
All Day
Holiday
Brazil - New Year's Eve
All Day
Holiday
South Korea - Exchange
Holiday
All Day
Holiday
United Kingdom - New
Year's Eve - Early close
at 12:30
All Day
Holiday
Hong Kong - New Year's
Eve - Early close at 13:00
All Day
Holiday
Australia - New Year's
Eve - Early close at 14:00
KRW
MEDIUM
South Korean CPI (YoY)
1.20%
0.90%
08:15:00 PM
USD
MEDIUM
Chicago PMI
61
63
08:30:00 PM
USD
HIGH
CB Consumer
Confidence
76
70.4
12/31/13
04:30:00 AM

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