Daily i-Forex Report by www.epicresearch.co 15th March 2013

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ListFree.org (Press Release) - Friday, March 15th, 2013

Daily i-Forex Report by www.epicresearch.co 15th March 2013

HEADLINE
 Dollar Holds 10,500 and its Bull Trend as Dow Breaks 16-Year Record
 EUR/USD And NZD/USD Break Lower, Which Looks Better
 ECB Maintains Economic Recovery Forecast Ahead Of The EU Summit

SNB Reveals Continued Determination to Maintain the 1.20 Franc Ceiling
THE TAKEAWAY: The SNB maintains a 1.20 Franc cap with ‘utmost determination’ -> SNB leaves interest rate at 0.00% -> No significant changes to Franc trading
The Swiss National Bank will maintain the France ceiling against the Euro with utmost determination and is willing to buy unlimited quantities of foreign currencies, according to the announcement made after today’s quarterly meting. The SNB also left the target interest rate at 0.00%, as was expected. The SNB last changed the interest rate in August 2011, cutting the rate from a previous 0.25% level.
The SNB forecasts inflation at -0.2% for 2013, following a previous forecast of -0.1% for the current year. The 2014 inflation forecast was also lowered to 0.2% from 0.4%. The SNB also forecasted a 1-1.5% GDP growth in 2013. The central bank said the downside risks to the Swiss economy remain significant as it sees a risk of Euro-Area tensions returning.

TRADING TIPS
• BUY EURUSD
BELOW 1.2920
tgs 1.2900/1.2880
sl 1.2950

• BUY USDJPY
ABOVE 96.50
tgt 96.70/96.90
SL 96.20

• SELL GBPUSD
BELOW 1.4915
Tgt 1.4895/1.4875
SL 1

ANALYSIS
HOURLY EURUSD CHART

OPEN: 1.2959
HIGH: 1.2982
LOW: 1.2924
CLOSE: 1.2931

• EURUSD LOOKS DOWNWARD
• TREND : BEARISH
• STRATEGY: SELL ON RISE
• MACD =>-.000(BEARISH SIGNAL)
• RSI =>33(BEARISH SIGNAL)

ANALYSIS

HOURLY USDJPY CHART

OPEN: 96.02
HIGH: 96.53
LOW: 95.68
CLOSE: 96.34

• USDJPY LOOKS UPWARD
• TREND: BULLISH
• STRATEGY: BUY ON DEEPS
• MACD => -0.05(BULLISH SIGNAL)
• RSI =>62(BULLISH SIGNAL

ANALYSIS

HOURLY GBPUSD CHART

OPEN: 1.4925
HIGH: 1.4958
LOW: 1.4915
CLOSE: 1.4947

• GBPUSD LOOKS DOWNWARD
• TREND: BEARISH
• STRATEGY: SELL ON RISE
• MACD => .002(BULLISH SIGNAL)
• RSI =>50(BULLISH SIGNAL)

HOURLY EURGBP CHART
OPEN: 0.8683
HIGH: 0.8685
LOW: 0.8652
CLOSE: 0.8653

• EURGBP LOOKS DOWNWARDS
• TREND: BEARISH
• STRATEGY: SELL ON RISE
• MACD =>-.003(BEARISH SIGNAL)
• RSI =>26(BEARISH SIGNAL)

HOURLY USDINDEX CHART

OPEN: 82.8950
HIGH: 83.0650
LOW: 82.7600
CLOSE: 83.0440

• USDINDEX LOOKS UPWARD
• TREND: BULLISH
• STRATEGY: BUY ON DEEPS
• MACD =>0.79(BEARISH SIGNAL)
• RSI =>66(BEARISH SIGNAL)

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