Daily i-Forex Report by www.epicresearch.co 6th June 2013

HEADLINE
• Euro-Zone Economy Contracts For A Sixth Consecutive Month, As Estimated
• Dollar: Is There Enough in ISM Services Data to Stoke Taper Talk?

A market-wide deleveraging on risky positions would be a windfall for the safe haven dollar, but that potent scenario shouldn’t be depended on given the persistence of benchmarks like the S&P 500.
Turning sentiment would be a serious fundamental feat, but it can be leveraged under the right conditions. Rather than awaiting a financial crisis hot spot, realization that fundamentals don’t match price, witness excessive leverage collapse in on itself; the most sinister spark would be to remove the source of investors’ indomitable confidence: threaten stimulus. The upcoming list of ISM service sector activity, ADP employment and Fed Beige Book could tap that nerve. Though, a weak showing like the factory report Monday could spur ‘QE-infinity’ expectations.

TRADING TIPS
• BUY EURUSD
ABOVE 1.3110
TGT 1.3130/1.3150
SL 1.3080

• BUY USDJPY
BELOW 99.30
TGT 99.10/98.90 SL
99.60

• BUY GBPUSD
ABOVE 1.5375
TGT 1.5395/1.5415
SL 1.5345

ANALYSIS
HOURLY EURUSD CHART

OPEN: 1.3072
HIGH: 1.3107
LOW: 1.3053
CLOSE: 1.3060

• EURUSD LOOKS UPWARD
• TREND : BULLISH
• STRATEGY: BUY ON DIPS
• MACD =>-.0007(BULLISH SIGNAL)
• RSI =>65(BULLISH SIGNAL)

ANALYSIS

HOURLY USDJPY CHART

OPEN: 100.27
HIGH: 100.46
LOW: 99.38
CLOSE: 99.54

• USDJPY LOOKS DOWNWARD
• TREND: BEARISH
• STRATEGY: SELL ON RISE
• MACD => .04(BEARSH SIGNAL)
• RSI =>44(BEARISH SIGNAL)

ANALYSIS

HOURLY GBPUSD CHART

OPEN: 1.5301
HIGH: 1.5372
LOW: 1.5291
CLOSE: 1.5354

• GBPUSD LOOKS UPWARD
• TREND: BULLISH
• STRATEGY: BUY ON DIPS
• MACD => .000(BULLISH SIGNAL)
• RSI =>54(BULLISH SIGNAL)

HOURLY EURGBP CHART
OPEN: 00.8542
HIGH: 00.8548
LOW: 00.8496
CLOSE: 00.8505

• EURGBP LOOKS DOWNWARDS
• TREND: BEARISH
• STRATEGY: SELL ON RISE
• MACD =>.00005(BEARISH SIGNAL)
• RSI =>66 (BEARISH SIGNAL)

HOURLY USDINDEX CHART

OPEN: 82.7960
HIGH: 82.8850
LOW: 82.5870
CLOSE: 82.7790
• USDINDEX LOOKS DOWNWARD
• TREND: BEARISH
• STRATEGY: SELL ON RISE
• MACD =>-.0291(BEARISH SIGNAL)
• RSI =>42(BEARISH SIGNAL)

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