DAILY IFOREX REPORT

23
DECEMBER 2013
TRADING TIPS

SELL USD-JPY BELOW 103.70 TGT

103.45,103.10 SL 104.05
SELL USD-CAD BELOW 1.0625 TGT
1.0600 ,1.05965 SL 1.0665

HEADLINES

Name

Last

EUR/USD

1.3681

USD/JPY

104.0645

GBP/USD

1.6341

USD/CHF

0.8954

AUD/USD

0.8926

USD/CAD

1.0648

NZD/USD

0.8199

EUR/CHF

1.225

EUR/JPY

142.3735

EUR/GBP

0.8372

EUR/AUD

1.5327

GBP/CHF

1.4632

GBP/JPY

170.0545

GBP/CAD

1.7401

GBP/AUD

1.8308

AUD/JPY

92.874

CAD/JPY

97.7245

CHF/JPY

116.226

NZD/JPY

85.309

AUD/CAD

0.9505

AUD/CHF

0.7992

AUD/SGD

1.1302

Forex - Forex - Weekly outlook: December 23 - 27

Forex - AUD/USD weekly outlook: December 23 - 27

Forex -USD/CHF weekly outlook: December 23 - 27

The U.S. dollar ended the week higher against most of its major counterparts, as demand for the
greenback remained supported after the Federal Reserve announced plans to begin tapering its
monthly bond-buying program.
Forex - Weekly outlook: December 23 - 27Trading volumes are expected to remain light this week
due to the Christmas holidayThe Fed announced Wednesday that it would reduce its USD85
billion-a-month bond buying program by USD10 billion in January. In his last press conference as
Fed Chairman Ben Bernanke said the economy was continuing to make progress.
The U.S. central bank reiterated that interest rates are likely to remain low even after the
unemployment rate drops below 6.5%, the threshold at which the Fed has previously said it would
start to consider rate increases.
The Commerce Department said Friday that the U.S. economy expanded by 4.1% in the third
quarter, well above initial estimates for 3.6% growth
.
The Australian dollar inched higher against its U.S. counterpart on Friday, but the Aussie held near
a three-and-a-half year low after the Federal Reserve said it will begin scaling back its stimulus
program next month.
Forex - AUD/USD weekly outlook: December 23 - 27AUS/USD holds near 3-1/2-year low after Fed
move AUD/USD clawed back from 0.8818 on Wednesday, the pairs lowest since August 25, 2010,
to subsequently consolidate at 0.8923 by close of trade on Friday, up 0.64% on the day but 0.5%
lower for the week.
The pair is likely to find support at 0.8818, Wednesdays low and resistance at 0.8957, the high
from December 17.Demand for the greenback remained supported after the Fed said Wednesday
that it would reduce its USD85 billion-a-month bond buying program by USD10 billion in January,
amid indications of an improving U.S. economy.
The U.S. central bank reiterated that interest rates are likely to remain low even after the
unemployment rate drops below 6.5%, the threshold at which the Fed has previously said it would
start to consider rate increases.

HOURLY EURUSD CHART

ANALYSIS
EURUSD LOOKS UPSIDE
TREND: BEARISH
STRATEGY:
BUY AROUND SUPPORT
SELL AROUND RESISTANCE
RESISTANCE: 1.3775
SUPPORT: 1.3660

HOURLY USDJPY CHART

ANALYSIS
USDJPY LOOK SIDEWAYS
TREND: BULLISH
STRATEGY:
BUY AROUND SUPPORT
SELL AROUND RESISTANCE
RESISTANCE: 104.50
SUPPORT: 103.90

HOURLY EURGBP CHART

ANALYSIS
USD/CHF LOOKS UPSIDE
TREND: BULLISH
STRATEGY:
BUY AROUND SUPPORT
SELL AROUND RESISTANCE
RESISTANCE: 0.8990
SUPPORT: 0.8940

HOURLY EURGBP CHART

ANALYSIS
USD/CAD LOOKS DOWNSIDE
TREND: BEARISH
STRATEGY:
BUY AROUND SUPPORT
SELL AROUND RESISTANC
RESISTANCE: 1.0650
SUPPORT: 1.0575

HOURLY GBPUSD CHART

ANALYSIS
GBPUSD LOOKS DOWNSIDE
TREND: BULLISH
STRATEGY:
BUY AROUND SUPPORT
SELL AROUND RESISTANCE
RESISTANCE: 1.6390
SUPPORT: 1.6290

ECONOMIC CALLENDER
Time

Cur.

Imp.

Event

Actual

Forecast

Previous

All Day

Holiday

Japan - Emperor's
Birthday

12:30:00 PM

EUR

LOW

German Import Price

Index (MoM)

-0.20%

-0.70%

12:30:00 PM

CHF

LOW

Consumption Indicator

1.28

01:30:00 PM

EUR

LOW

Spanish PPI (YoY)

-0.10%

-0.20%

02:30:00 PM

EUR

LOW

Italian Consumer
Confidence

98.8

98.3

Tentative

EUR

LOW

German House Price

Index (MoM)

0.80%

07:00:00 PM

CAD

HIGH

GDP (MoM)

0.10%

0.30%

07:00:00 PM

USD

LOW

Chicago Fed National

Activity

-0.18

07:00:00 PM

USD

MEDIUM

Core PCE Price Index

(MoM)

0.10%

0.10%

07:00:00 PM

USD

LOW

Personal Income (MoM)

0.50%

-0.10%

07:00:00 PM

USD

MEDIUM

Personal Spending
(MoM)

0.50%

0.30%

07:00:00 PM

USD

LOW

Real Personal
Consumption (MoM)

0.30%

08:25:00 PM

USD

MEDIUM

Michigan Consumer
Sentiment

83

82.5

08:25:00 PM

USD

LOW

Michigan Current
Conditions

98.1

97.9

08:25:00 PM

USD

LOW

Michigan Inflation
Expectations

3.00%

09:00:00 AM

MXN

MEDIUM

Mexican Unemployment
Rate

4.94%

5.01%

12/23/13

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