Daily i-Forex Report by http://www.epicresearch.co 8th February 2013

The economic calendar heats up in European trading hours. The European Central Bank will deliver its monthly policy announcement.

ListFree.org (Press Release) - Friday, February 8th, 2013

HEADLINE
 Euro May Rise on Neutral ECB, Pound at Risk on Carney Comments

 Volatility Risk High For EUR/USD Ahead Of ECB, GBP/USD With BoE

 Dollar Appeal Rising After Biggest Stimulus Drop In 4 Years

Euro May Rise on Neutral ECB, Pound at Risk on Carney Comments
The economic calendar heats up in European trading hours. The European Central Bank will deliver its monthly policy announcement. Mario Draghi and company are not expected to offer any changes to the current framework this time around but the markets appear see the possibility for some verbal intervention to emerge in the press conference following the rate decision to talk down the recently buoyant Euro. The ECB President seems unlikely to overstep the bank’s mandate and dip into exchange rate policy however. Indeed, a strong currency and its negative implications for exports and broader economic growth ultimately falls outside of the ECB’s strict focus on price stability alone. Still, expectant markets primed for a dovish turn in rhetoric may respond to its absence as de-facto hawkish and bid up the single currency.

 TRADING TIPS
• SELL EURUSD

ABOVE 1.3577
tgs 1.3597/1.3617
sl 1.3557

• BUY USDJPY

ABOW 93.91
tgt 94.05/94.19
SL 93.71

• BUY GBPUSD

BELOW 1.5645
tgt 1.5631/1.5617
SL 1.5659

ANALYSIS

HOURLY EURUSD CHART

OPEN: 1.3521
HIGH: 1.3577
LOW: 1.3504
CLOSE: 1.3563

• EURUSD LOOKS UPWARD
• TREND : BULLISH
• STRATEGY: BUY ON DEEPS
• MACD =>. -0009(BULLISH SIGNAL)
• RSI => 40(BULLISH SIGNAL)

ANALYSIS

HOURLY USDJPY CHART

OPEN: 93.43
HIGH: 93.92
LOW: 93.30
CLOSE: 93.83

• USDJPY LOOKS UPWARD
• TREND: BULLISH
• STRATEGY: BUY ON DEEPS
• MACD => 0002( BULLISH SIGNAL)
• RSI =>58(BULLISH SIGNAL)

ANALYSIS

HOURLY GBPUSD CHART

OPEN: 1.5663
HIGH: 1.5768
LOW: 1.5645
CLOSE: 1.5704

• GBPUSD LOOKS DOWNWARD
• TREND: BEARISH
• STRATEGY: SELL ON RISE
• MACD => .0005( BEARISH SIGNAL)
• RSI => 49(BEARISH SIGNAL)

HOURLY EURGBP CHART
OPEN: 0.8632
HIGH: 0.8663
LOW: 0.8597
CLOSE: 0.8637

• EURGBP LOOKS UPWARDS
• TREND: BULLISH
• STRATEGY: BUY ON DEEPS
• MACD =>.007(BULLISH SIGNAL)
• RSI =>49(BULLISH SIGNAL)

HOURLY USDINDEX CHART

OPEN: 79.7420
HIGH: 79.8160
LOW: 79.5390
CLOSE: 79.5940

• USDINDEX LOOKS UPWARD
• TREND: BULLISH
• STRATEGY: BUY ON DEEPS
• MACD =>0.0125(BULLISH SIGNAL)
• RSI =>64(BULLISH SIGNAL)

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