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Monday, December 29, 2014
Good morning from Hamburg and welcome to our first Daily FX Report for this week. Indonesia
was set to resume at first light the search for an AirAsia plane carrying 162 people from the
Indonesian city of Surabaya to Singapore, which went missing on Sunday just after the pilot
requested a change in course to avoid bad weather. "We are deeply shocked and saddened by
this incident," said Indonesia AirAsia Chief Executive Sunu Widyatmoko. "We are cooperating
with the relevant authorities to the fullest extent to determine the cause of this incident."The
carrier is 49 percent owned by Malaysia-based budget carrier Air Asia. The AirAsia group,
including affiliates in Thailand, the Philippines and India, has not suffered a crash since its
Malaysian budget operations began in 2002.

Anyway, we wish you a successful trading week!

Market Review Fundamental Perspective

Trading in Australia, New Zealand, Hong Kong, Indonesia, the U.K. and Germany resumes
today after the two-day Christmas holday and before a break for New Years Day on Januar
1.The S&P rose 0.3 percent to an all-time high of 2088.77 December 26. The measure capped a
weekly advance of 0.9 percent after the Fed soothed concern over higher borrowing costs,
saying after its last meeting of 2014 that policy makers will be patient when it comes to raising
rates, even as evidence of a strengthening U.S. economy mounts. The Dow Jones Industrial
Average cemented its place above the 18000 point mark last week, climbing 1.4 percent to
18053.71. The yen lost 0.7 percent last week and the euro retreated 0.4 percent, as the
Bloomberg Dollar Spot Index, which tracks the dollar versus 10 major peers, jumped 0.5 percent.
The U.S. currency is poised to strengthen against all of its 31 major counterparts in 2014, the
first time thats occurred in data going back to 1989, as the improving economy and Fed plans to
raise rates next year lure investors. The Australian dollar was little changed at 81.15 U.S. cents
after slipping 0.1 percent last week in a sixth straight week of declines. New Zealands dollar
was steady at 0.7749 after trading little changed last week. It was climbed 3.6 percent against
the AUD this year, set for a third straight year of gains. Gold was little changed at $1194.45 an
ounce after advancing Dec. 26 amid speculation China, the worlds biggest consumer, wil step
up measures to support its economy, thereby boosting demand for the precious metal as a store
of value.

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Daily Technical Analysis

GBP/USD (4 Hours)
As the chart shows, the GBP decreased steadily versus the USD since the mid of October. The
support line at 1.5492 was strong enough as the price was unable to break through clearly and
rebounded. Although it slipped once below this support line it immediately returned in the
sideward channel between 1.5804 and 1.5492. On a short term the CCI is indicating a possible
upward movement, but further losses may occur.

Support & Resistance (4 Hours)

Support Levels around

Resistance Levels around

1.5492

1.5804

N/A

1.6016

N/A

1.6182

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USD/CHF (4 Hours)
Till the beginning of October the bulls dominated within this currency pair. Then the price
rebounded at 0.9732 and the trend moved down. Then we experienced a depreciation of the U.S
currency versus the franc. Currently the pair is dominated by the bulls. The RSI is moving
upwards. The MACD is signaling that longterm losses are possible.

Support & Resistance (4 Hours)

Support Levels around

Resistance Levels around

0.9789

N/A

0.9613

N/A

0.9558

N/A

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NZD/USD (4 Hours)
Since the beginning of July the pair is depreciating inside a downward trend channel and there
seems to be no relevant support level to stop the price movement. Also the support level at
0.7679 seems to be stable enough, as it has stopped the pricefall since the beginning of
November. The price is moving between the level of 0.7995 and 0.7679. The MACD is moving
around the center line, further wins are possible. We have to wait in order to see the further
movement direction.

Support & Resistance (4 Hours)

Support Levels around

Resistance Levels around

0.7679

0.7995

N/A

0.8505

N/A

0.8713

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Daily Calendar & Key Events

Date

Time (GMT)

Economic Indicator

Last

Survey

15/29/2014

09:00

IT Consumer Confidence Index (Dec)

100.2

100.4

15/12/2014

15:30

US Dallas Fed Manf. Activity (Dec)

10.5

9.0

If you have any questions, please contact us for further assistance. 24 hours a day:
German:

+49 40 66 86 49 96

Arabic:

English:

+49 40 66 86 49 96

24 h Trading Support: +49 40 66 86 49 32

Turkish:

+49. 40. 66 86 49 0

+97 14 40 19 57 - 5

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