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DAILY IFOREX REPORT

24
FEBRUARY 2014
TRADING TIPS

BUY USD-CAD ABOVE 1.1200 TGT


1.1225,1.1260 SL 1.1160
SELL GBP-USD BELOW 1.6610 TGT
1.6585 ,1.6550 SL 1.6650

HEADLINES
EUR/USD

1.3738

USD/JPY

102.5610

GBP/USD

1.6638

USD/CHF

0.8877

AUD/USD

0.8967

USD/CAD

1.1131

NZD/USD

0.8278

EUR/CHF

1.2198

EUR/JPY

140.8945

EUR/GBP

0.8257

EUR/AUD

1.5320

GBP/CHF

1.4770

GBP/JPY

170.6350

GBP/CAD

1.8519

GBP/AUD

1.8554

AUD/JPY

91.9635

CAD/JPY

92.1380

AUD/CAD

0.9981

AUD/CHF

0.7960

AUD/SGD

1.1368

Forex - EUR/USD steady as market shrugs off U.S. data

Forex - Dollar moves sideways on soft U.S. housing data

Forex - GBP/USD falls on soft U.K. retail sales data

EUR/USD was up 0.19% at 1.3745.


The National Association of Realtors reported earlier that U.S. existing home sales
declined 5.1% to 4.62 million units last month, outpacing expectations for a 4.3%
drop to 4.68 million units.In December, existing home sales were revised to a 0.8%
rise to 487 million units from an initially estimated 1% increase.
The Federal Reserve has said it will pay close attention to data when deciding the
pace at which it winds down is asset purchases, and the soft numbers stoked
expectations the U.S. central bank will wind down its stimulus program very
gradually.
GBP/USD was trading at 1.6620, down 0.19%, up from a session low of 1.6613 and
off a high of 1.6725.Cable was likely to find support at 1.6600, the low from Feb. 13,
and resistance at 1.6742, Tuesday's high.
U.K. retail sales dropped 1.5% in January, according to official data, outpacing
consensus forecasts for a 1% decline. Retail sales in December were revised down
to a 2.5% increase from a previously estimated 2.6% gain.
On a yearly basis, U.K. retail sales rose 4.3% last month, compared to expectations
for a 5% increase, after a 5.3% advance in December.
EUR/USD was trading at 1.3723, up 0.03%, up from a session low of 1.3702 and off a
high of 1.3757.
The pair was likely to find support at 1.3686, Thursday's low, and resistance at
1.3774, Wednesday's high.

HOURLY USDJPY CHART

ANALYSIS
USDJPY LOOK UPSIDE
TREND: BULLISH
STRATEGY:
SELL NEAR RESISTANCE
BUY NEAR SUPPORT
RESISTANCE: 102.20
SUPPORT: 101.00

HOURLY EURUSD CHART

ANALYSIS
EURUSD LOOKS UPSIDE
TREND: BULLISH
STRATEGY:
SELL NEAR RESISTANCE
BUY NEAR SUPPORT
RESISTANCE: 1.3775
SUPPORT: 1.3665

HOURLY USD-CAD CHART

ANALYSIS
USD/CAD LOOKS UPSIDE
TREND: BULLISH
STRATEGY:
SELL NEAR RESISTANCE
BUY NEAR SUPPORT
RESISTANCE: 1.1190
SUPPORT: 1.1035

HOURLY GBPUSD CHART

ANALYSIS
GBPUSD LOOKS DOWNSIDE
TREND: BEARISH
STRATEGY:
SELL NEAR RESISTANCE
BUY NEAR SUPPORT
RESISTANCE: 1.6740
SUPPORT: 1.6620

MEDIUM

Cur.

Imp.

Event

Actual

Forecast

Previous

07:00:00 AM

CNY

LOW

China House Prices (YoY)

9.90%

10:30:00 AM

USD

LOW

Services PMI

56.7

02:30:00 PM

EUR

MEDIUM

German Business
Expectations

108.2

108.9

02:30:00 PM

EUR

MEDIUM

German Current
Assessment

112.8

112.4

02:30:00 PM

EUR

HIGH

German Ifo Business


Climate Index

110.6

110.6

03:30:00 PM

EUR

LOW

Core CPI (MoM)

0.30%

03:30:00 PM

EUR

MEDIUM

Core CPI (YoY)

0.70%

03:30:00 PM

EUR

MEDIUM

CPI (MoM)

-1.10%

0.30%

03:30:00 PM

EUR

HIGH

CPI (YoY)

0.70%

0.70%

04:30:00 PM

BRL

LOW

FGV Consumer
confidence

108.9

07:00:00 PM

USD

LOW

Chicago Fed National


Activity

0.16

07:30:00 PM

MXN

LOW

Mexican Unemployment
Rate

4.25%

09:00:00 PM

USD

LOW

Dallas Fed Mfg Business


Index

3.8

02/24/14

ECONOMIC CALLENDER

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