Daily i-Forex Report by www.epicresearch.co 11th June 2013

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ListFree.org (Press Release) - Tuesday, June 11th, 2013

HEADLINE
• ECB Disagreements Surface And Give Euro Short-Lived Volatility
• US Dollar Looks For Cues In Fed-Speak, Aussie Hits 20-Month Low
• EURUSD Holds Steady Ahead of NFPs as ECB Delays Easing Cycle

ECB Adopts Neutral Tone, Banks to Repay EUR 2.93B of LTRO Although the EURUSD bounced back from an overnight low of 1.3223, the pair has yet to make another run at the 1.3300 handle, and the single currency may struggle to retain the advance from earlier this week should the U.S. Non-Farm Payrolls report dampen speculation for more Fed support. As the EURUSD clears the May high (1.3241), the recent price development certainly dampens the scope of seeing the head-and-shoulders formation play out, and we may see the pair continue to retrace the decline from earlier this year as the European Central Bank (ECB) adopts a more neutral tone for monetary policy. Nevertheless, as commercial banks in Europe look to repay another EUR 2.93B of the Long-Term Refinancing Operations (LTRO), the weakening outlook for private sector lending may prompt the ECB to further embark on its easing cycle in the second-half of the year, and the central bank may implement a range of policy tools in the coming months as the governments operating under the fixed-exchange rate system become increasingly reliant on monetary support.

TRADING TIPS
• BUY EURUSD
ABOVE 1.3235
TGT 1.3255/1.3275
SL 1.3205

• BUY USDJPY
BELOW 99.00
TGT 99.20/99.40 SL
98.70

• BUY GBPUSD
ABOVE 1.5570
TGT 1.5590/1.5610
SL 1.5540

ANALYSIS
HOURLY EURUSD CHART

OPEN: 1.3202
HIGH: 1.3230
LOW: 1.3177
CLOSE: 1.3217

• EURUSD LOOKS UPWARD
• TREND : BULLISH
• STRATEGY: BUY ON DIPS
• MACD =>-.0000(BULLISH SIGNAL)
• RSI =>50.5912(BULLISH SIGNAL)

ANALYSIS

HOURLY USDJPY CHART

OPEN: 98.36
HIGH: 98.98
LOW: 97.71
CLOSE: 98.78

• USDJPY LOOKS DOWNWARD
• TREND: BEARISH
• STRATEGY: SELL ON RISE
• MACD => .36(BEARSH SIGNAL)
• RSI =>66.99(BEARISH SIGNAL)

ANALYSIS

HOURLY GBPUSD CHART

OPEN: 1.5525
HIGH: 1.5563
LOW: 1.5497
CLOSE: 1.5542

• GBPUSD LOOKS UPWARD
• TREND: BULLISH
• STRATEGY: BUY ON DIPS
• MACD => .0003(BULLISH SIGNAL)
• RSI =>49.5302(BULLISH SIGNAL)

HOURLY EURGBP CHART
OPEN: 00.8505
HIGH: 00.8518
LOW: 00.8449
CLOSE: 00.8503

• EURGBP LOOKS DOWNWARDS
• TREND: BEARISH
• STRATEGY: SELL ON RISE
• MACD =>.00002(BEARISH SIGNAL)
• RSI =>50.5764 (BEARISH SIGNAL)

HOURLY USDINDEX CHART

OPEN: 81.6920
HIGH: 81.9940
LOW: 81.6530
CLOSE: 81.8820
• USDINDEX LOOKS DOWNWARD
• TREND: BEARISH
• STRATEGY: SELL ON RISE
• MACD =>-.0405(BEARISH SIGNAL)
• RSI =>57.0189(BEARISH SIGNAL)

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