Daily i-Forex Report by www.epicresearch.co 23th March 2013

The March edition of Germany’s IFO Survey of business confidence tops an otherwise limited economic calendar in European hours. The headline Business Climate index is expected to inch higher for the fifth consecutive month, hitting the highest level in 11 months.

ListFree.org (Press Release) - Saturday, March 23rd, 2013

HEADLINE

 U.S. Dollar Ends Week Lower After Euro Weakness and Pound Strength
 EUR/USD- Trading The German IFO Business Confidence Survey
 Disappointing German IFO Survey Fails To Distract Euro Traders From Cyprus

Yen May Rise While Euro Falls as Cyprus Fears Spark Liquidation
German IFO Data Unlikely to Command Attention on Euro Crisis Fears
Markets May Go Into Liquidation Mode to Avoid Cyprus Weekend Risk
Japanese Yen Set to Outperform as Euro, Aussie Sink on Risk Aversion
The March edition of Germany’s IFO Survey of business confidence tops an otherwise limited economic calendar in European hours. The headline Business Climate index is expected to inch higher for the fifth consecutive month, hitting the highest level in 11 months. The narrow improvement seems unlikely to command forex markets’ attention however as investors remain acutely focused on news-flow out of Cyprus.

TRADING TIPS

• SELL EURUSD
BELOW 1.2888
tgs 1.2868/1.2848
sl 1.2918

• SELL USDJPY
ABOVE 94.20
tgt 94.00/93.80
SL 94.50

• BUY GBPUSD
ABOVE 1.5215
Tgt 1.5235/1.5255
SL 1.5185

ANALYSIS
HOURLY EURUSD CHART

OPEN: 1.2903
HIGH: 1.2939
LOW: 1.2888
CLOSE: 1.2930

• EURUSD LOOKS DOWNWARD
• TREND : BEARISH
• STRATEGY: SELL ON RISE
• MACD =>-.0004(BEARISH SIGNAL)
• RSI => 55(BEARISH SIGNAL)

ANALYSIS

HOURLY USDJPY CHART

OPEN: 94.92
HIGH: 95.06
LOW: 94.20
CLOSE: 94.33

• USDJPY LOOKS DOWNWARD
• TREND: BEARISH
• STRATEGY: SELL ON RISE
• MACD => -0.07( BEARISH SIGNAL)
• RSI =>33(BEARISH SIGNAL)

ANALYSIS

HOURLY GBPUSD CHART

OPEN: 1.5180
HIGH: 1.5213
LOW: 1.5175
CLOSE: 1.5205

• GBPUSD LOOKS UPWARD
• TREND: BULLISH
• STRATEGY: BUY ON DEEPS
• MACD => .002( BULLISH SIGNAL)
• RSI => 62(BULLISH SIGNAL)

HOURLY EURGBP CHART
OPEN: 0.8500
HIGH: 0.8513
LOW: 0.8484
CLOSE: 0.8502

• EURGBP LOOKS DOWNWARDS
• TREND: BEARISH
• STRATEGY: SELL ON RISE
• MACD =>-.003(BEARISH SIGNAL)
• RSI =>44(BEARISH SIGNAL)

HOURLY USDINDEX CHART

OPEN: 82.7880
HIGH: 82.8260
LOW: 82.5960
CLOSE: 82.6180

• USDINDEX LOOKS DOWNWARD
• TREND: BEARISH
• STRATEGY: SELL ON RISE
• MACD =>0.22(BEARISH SIGNAL)
• RSI =>38(BEARISH SIGNAL)

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