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DAILY I-FOREX REPORT BY EPIC RESEARCH-29 January 2013

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DAILY I-FOREX REPORT BY EPIC RESEARCH-29 January 2013 Powered By Docstoc
					                  DAILY I FOREX REPORT
                      29TH   JANUARY 2013




WWW.EPICRESEARCH.CO                         +91 9752199966
                                                  HEADLINES


                                     Forex News: France FinMin
                                      Moscovici Says 75% Tax Is
                                      Still Necessary
                                     Forex: Dollar Closes Week
                                      at Six Month High, FOMC
                                      and GDP Ahead

    TRADING TIPS                     Forex Analysis: EUR/JPY
                                      Potentially Repeating
   SELL EURUSD BELOW                 Pattern From 12 Years Ago
    1.3430 tgs                   Forex Analysis: British
    1.3415/1.3400 sl             Pound Sinks as Carney
                                 Hints at More Easing
    1.3450
                           The British Pound broadly underperformed in
                           overnight trade, down against its top counterparts. The
   SELL GBPUSD BELOW
                           selloff followed comments from incoming Bank of
    1.5700 tgt             England Governor Mark Carney, who is due to replace
                           the current BOE chief Mervyn King in July. Carney said
    1.5685/1.5670 SL
                           central banks have not “maxed out” the possibilities for
    1.57.25                further stimulus and may do more, stressing the need
                           to achieve “escape velocity” as developed economies
                           struggle to pick up pace in the aftermath of the Great
   BUY EURGBP ABOVE       Recession. The remarks hinted that Carney will pursue

    .8565 tgt              further accommodation when he takes the reins at
                           Threadneedle Street.
    .8579/.8593 SL .8545
WWW.EPICRESEARCH.CO                                            +91 9752199966
                               HOURLYEURUSD CHART
                                HOURLY EURUSD CHART
                                        




ANALYSIS
OPEN: 1.3465
HIGH: 1.3470
LOW: 1.3425
CLOSE: 1.3448

    EURUSD LOOKS DOWNWARD
    TREND: BEARISH
    STRATEGY: SELL ON RISE
    MACD =>. -0005(BEARISH SIGNAL)
    RSI => 45.06(BEARISH SIGNAL)
                                HOURLY USDJPY CHART
                           HOURLY USDJPY CHART




ANALYSIS
OPEN: 91.18
HIGH: 91.18
LOW: 90.56
CLOSE: 90.76

    USDJPY LOOKS UPWARD
    TREND: BULLISH
    STRATEGY: BUY ON DIPS
    MACD => 0000( BULLISH SIGNAL)
    RSI =>52(BULLISH SIGNAL)
                          HOURLY GBPUSD CHART
                            HOURLY GBPUSD CHART




ANALYSIS
OPEN: 1.5773
HIGH: 1.5780
LOW: 1.5710
CLOSE: 1.5716

    GBPUSD LOOKS DOWNWARD
    TREND: BEARISH
    STRATEGY: SELL ON RISE
    MACD => -.0005( BEARISH SIGNAL)
    RSI =>     45(BEARISH SIGNAL)
                             HOURLY EURGBP CHART
                          HOURLY EURGBP CHART




ANALYSIS
OPEN: 0.8536
HIGH: 0.8559
LOW: 0.8530
CLOSE: 0.8553

    EURGBP LOOKS UPWARDS
    TREND: BULLISH
    STRATEGY: BUY ON DIPS
    MACD =>.0022(BULLISH SIGNAL)
    RSI =>75.15(BULLISH SIGNAL)




www.epicresearch.co                                + 91 9752199966
                       HOURLY USDINDEX CHART




ANALYSIS
OPEN: 79.9970
HIGH: 80.0860
LOW: 79.7120
CLOSE: 79.7460

    USDINDEX LOOKS UPWARD
    TREND: BULLISH
    STRATEGY: BUY ON DIPS
    MACD =>-0.0125(BULLISH SIGNAL)
    RSI =>54(BULLISH SIGNAL)




                       ECONOMIC CALENDER
Date     Time    Currency            Event           Importance   Actual   Forecast   Previous   Notes


 Sun                        CNY Industrial Profits
Jan 27
         01:30                                        Medium      5.3%                 3.0%
                            YTD (YoY) (DEC)

                            NZD Performance
         21:30                                          Low       51.5                 54.2
                            Services Index (DEC)

                            JPY Corporate Service
         23:50                                          Low       -0.4%    -0.5%      -0.5%
                            Price (YoY) (DEC)

 Mon                        CNY Leading Index
Jan 28
                                                      Medium                          100.21
                            (DEC)

                            GBP Hometrack
         00:01              Housing Survey (MoM)        Low       0.0%                -0.1%
                            (JAN)
                            GBP Hometrack
         00:01              Housing Survey (YoY)        Low       -0.3%               -0.3%
                            (JAN)

                            EUR Euro-Zone M3
         09:00                                          Low       3.7%      3.8%       3.4%
                            s.a. (3M) (DEC)

                            EUR Euro-Zone M3
         09:00                                          Low       3.3%      3.9%       3.8%
                            s.a. (YoY) (DEC)

                            USD Durable Goods
         13:30                                         High                 2.0%       0.8%
                            Orders (DEC)

                            USD Durables Ex
         13:30                                        Medium                0.8%       1.6%
                            Transportation (DEC)

                            USD Cap Goods
         13:30              Orders Nondef Ex Air        Low                -1.0%       2.6%
                            (DEC)

                            USD Cap Goods Ship
         13:30                                          Low                 0.5%       2.0%
                            Nondef Ex Air (DEC)

                            USD Pending Home
         15:00                                          Low                 0.1%       1.7%
                            Sales (MoM) (DEC)

                            USD Pending Home
         15:00                                        Medium               12.5%       8.9%
                            Sales (YoY) (DEC)

                            USD Dallas Fed
         15:30              Manufacturing Activity      Low                  3.0        6.8
                            (JAN)
                            NZD Trade Balance
         21:45              (New Zealand dollars)     Medium               -105M      -700M
                            (DEC)
                            NZD Balance (YTD)
         21:45              (New Zealand dollars)     Medium               -1870B     -1457B
                            (DEC)

                            NZD Exports (New
         21:45                                          Low                3.98B      3.81B
                            Zealand dollars) (DEC)

                            NZD Imports (New
         21:45                                          Low                4.13B      4.51B
                            Zealand dollars) (DEC)

                            AUD Conference Board
         23:00                                        Medium                           0.2%
                            Leading Index (NOV)

 Tue                        AUD NAB Business
Jan 29
         00:30                                          Low                             -5
                            Conditions (DEC)

                            AUD NAB Business
         00:30                                        Medium                            -9
                            Confidence (DEC)
                 JPY Small Business
         05:00                             Medium            43.8
                 Confidence (JAN)

                 EUR German Import
         07:00   Price Index (MoM)          Low     -0.1%   0.0%
                 (DEC)
                 EUR German GfK
         07:00   Consumer Confidence       Medium    5.7     5.6
                 Survey (FEB)
                 EUR German Import
         07:00   Price Index (YoY)          Low     0.9%    1.1%
                 (DEC)

                 USD S&P/CS 20 City
         14:00                              Low     0.7%    0.7%
                 (MoM) s.a. (NOV)

                 USD S&P/Case-Shiller
         14:00   Composite-20 (YoY)         Low     5.6%    4.3%
                 (NOV)
                 USD S&P/Case-Shiller
         14:00   Home Price Index           Low             146.08
                 (NOV)

                 USD Consumer
         15:00                              High     64      65.1
                 Confidence (JAN)

                 NZD Building Permits
         21:45                              Low     6.0%    -5.4%
                 (MoM) (DEC)

                 JPY Retail Trade s.a.
         23:50                              Low     0.4%    0.0%
                 (MoM) (DEC)

                 JPY Retail Trade (YoY)
         23:50                             Medium   0.3%    1.3%
                 (DEC)

                 JPY Large Retailers'
         23:50                             Medium   -1.0%   0.9%
                 Sales (DEC)

                 AUD DEWR Internet
 Wed
Jan 30
         00:00   Skilled Vacancies          Low             -3.5%
                 (MoM) (DEC)

                 CHF UBS Consumption
         07:00                             Medium            1.23
                 Indicator (DEC)

                 CHF KOF Swiss
         08:00                             Medium    1.2     1.28
                 Leading Indicator (JAN)

                 GBP Net Consumer
         09:30                             Medium   0.2B    0.1B
                 Credit (DEC)

                 GBP Net Lending Sec.
         09:30                             Medium   0.6B    -0.2B
                 on Dwellings (DEC)

                 GBP Mortgage
         09:30                             Medium   54.5K   54.0K
                 Approvals (DEC)

                 GBP M4 Money Supply
         09:30                              Low             -0.2%
                 (MoM) (DEC)

                 GBP M4 Money Supply
         09:30                              Low             -2.8%
                 (YoY) (DEC)

                 GBP M4 Ex IOFCs 3M
         09:30                              Low             4.3%
                 Annualised (DEC)

                 EUR Euro-Zone
         10:00   Economic Confidence        Low     88.2     87
                 (JAN)

                 EUR Euro-Zone
         10:00                              Low      -1     -1.12
                 Business Climate
        Indicator (JAN)
        EUR Euro-Zone
10:00   Industrial Confidence    Low     -13.5    -14.4
        (JAN)
        EUR Euro-Zone
10:00   Consumer Confidence     Medium   -23.9    -23.9
        (JAN F)
        EUR Euro-Zone
10:00   Services Confidence      Low      -9       -9.8
        (JAN)

        USD MBA Mortgage
12:00                            Low              7.0%
        Applications (JAN 25)

        USD ADP Employment
13:15                           Medium   163K     215K
        Change (JAN)

        USD Gross Domestic
13:30   Product (Annualized)     High    1.2%     3.1%
        (4Q A)
        USD Gross Domestic
13:30   Product Price Index      High    1.5%     2.7%
        (4Q A)
        USD Core Personal
        Consumption
13:30                           Medium   1.0%     1.1%
        Expenditure (QoQ) (4Q
        A)

        USD Personal
13:30                           Medium   1.8%     1.6%
        Consumption (4Q A)

        USD DOE U.S. Crude
15:30   Oil Inventories (JAN     Low              2813K
        25)
        USD DOE Cushing OK
15:30   Crude Inventory (JAN     Low              -471K
        25)
        USD DOE U.S.
15:30   Gasoline Inventories     Low             -1738K
        (JAN 25)
        USD DOE U.S.
15:30   Distillate Inventory     Low              508K
        (JAN 25)
        USD Federal Open
19:15   Market Committee Rate    High             0.25%
        Decision (JAN 30)
        NZD Reserve Bank of
20:00   New Zealand Rate         High    2.50%    2.50%
        Decision (JAN 31)
        JPY Japan Buying
23:50   Foreign Bonds (Yen)      Low             -¥35.2B
        (JAN 25)
        JPY Japan Buying
23:50   Foreign Stocks (Yen)     Low             -¥235.3B
        (JAN 25)
        JPY Foreign Buying
23:50   Japan Bonds (Yen)        Low             ¥485.7B
        (JAN 25)
        JPY Foreign Buying
23:50   Japan Stocks (Yen)       Low             ¥196.2B
        (JAN 25)

        JPY Loans & Discounts
23:50                            Low              0.4%
        Corp (YoY) (DEC)
                 JPY Industrial
         23:50   Production (MoM)          Low     4.1%     -1.4%
                 (DEC P)
                 JPY Industrial
         23:50   Production (YoY) (DEC    Medium   -5.6%    -5.5%
                 P)

 Thu             AUD HIA New Home
Jan 31
         00:00                            Medium            4.7%
                 Sales (MoM) (DEC)

                 JPY Bank of Japan
                 Deputy Governor          Medium
                 Yamaguchi Speaks
                 GBP GfK Consumer
         00:01   Confidence Survey        Medium    -28      -29
                 (JAN)

                 AUD Private Sector
         00:30                             Low     0.2%     0.0%
                 Credit (MoM) (DEC)

                 AUD Private Sector
         00:30                            Medium   3.4%     3.5%
                 Credit (YoY) (DEC)

                 AUD Export Price Index
         00:30                             Low     -1.5%    -6.4%
                 (QoQ) (4Q)

                 AUD Import Price Index
         00:30                             Low     0.4%     -2.4%
                 (QoQ) (4Q)

                 JPY Labor Cash
         01:30                            Medium            -1.1%
                 Earnings (YoY) (DEC)

                 NZD Money Supply M3
         02:00                             Low              5.0%
                 (YoY) (DEC)

                 JPY Vehicle Production
         04:00                             Low              -8.4%
                 (YoY) (DEC)

                 JPY Housing Starts
         05:00                            Medium   13.5%    10.3%
                 (YoY) (DEC)

                 JPY Annualized
         05:00                            Medium   0.895M   0.907M
                 Housing Starts (DEC)

                 JPY Construction
         05:00                             Low              -2.1%
                 Orders (YoY) (DEC)

                 GBP Nationwide House
         07:00   Prices s.a. (MoM)         Low     0.2%     -0.1%
                 (JAN)
                 GBP Nationwide House
         07:00   Prices n.s.a. (YoY)      Medium   -0.5%    -1.0%
                 (JAN)

                 EUR German Retail
         07:00                             Low     -0.1%    1.2%
                 Sales (MoM) (DEC)

                 EUR German Retail
         07:00                            Medium   -1.3%    -0.9%
                 Sales (YoY) (DEC)

                 EUR German
         08:55   Unemployment Change       High     8K       3K
                 (JAN)
                 EUR German
         08:55   Unemployment Rate        Medium   6.9%     6.9%
                 s.a. (JAN)
                 EUR Euro-Zone
         10:00   Consumer Price Index     Medium            2.2%
                 Estimate (YoY) (JAN)
        USD Challenger Job
12:30                             Low             -22.1%
        Cuts (YoY) (JAN)

        EUR German
13:00   Consumer Price Index     Medium   -0.5%   0.9%
        (MoM) (JAN P)
        EUR German
13:00   Consumer Price Index      High    2.0%    2.1%
        (YoY) (JAN P)
        EUR German
        Consumer Price Index -
13:00                            Medium   -0.5%   0.9%
        EU Harmonised (MoM)
        (JAN P)
        EUR German
        Consumer Price Index -
13:00                             High    2.0%    2.0%
        EU Harmonised (YoY)
        (JAN P)

        CAD Gross Domestic
13:30                            Medium   0.2%    0.1%
        Product (MoM) (NOV)

        CAD Gross Domestic
13:30                             High            1.1%
        Product (YoY) (NOV)

        USD Employment Cost
13:30                             Low     0.5%    0.4%
        Index (4Q)

        USD Personal Income
13:30                            Medium   0.8%    0.6%
        (DEC)

        USD Personal
13:30                            Medium   0.3%    0.4%
        Spending (DEC)

        USD Personal
        Consumption
13:30                             Low     0.0%    -0.2%
        Expenditure Deflator
        (MoM) (DEC)
        USD Personal
        Consumption
13:30                             Low     1.4%    1.4%
        Expenditure Deflator
        (YoY) (DEC)
        USD Personal
        Consumption
13:30                             Low     0.1%    0.0%
        Expenditure Core
        (MoM) (DEC)
        USD Personal
        Consumption
13:30                             Low     1.5%    1.5%
        Expenditure Core
        (YoY) (DEC)

        USD Initial Jobless
13:30                            Medium   355K    330K
        Claims (JAN 27)

        USD Continuing Claims
13:30                             Low             3157K
        (JAN 20)

        CAD Industrial Product
13:30                             Low     0.0%    -0.3%
        Price (MoM) (DEC)

        CAD Raw Materials
13:30   Price Index (MoM)         Low     0.8%    -1.9%
        (DEC)

        USD NAPM-Milwaukee
14:00                             Low
        (JAN)

        USD Chicago
14:45   Purchasing Manager        Low      51      51.6
        (JAN)
                USD EIA Natural Gas
        15:30   Storage Change (JAN       Low               -172
                25)

                NZD Net Migration s.a.
        21:45                             Low               590
                (DEC)

                AUD AiG Performance
        22:30   of Manufacturing Index   Medium             44.3
                (JAN)

                AUD RPData-Rismark
        23:00                             Low              -0.30%
                House PX Actual (JAN)

                JPY Jobless Rate
        23:30                            Medium   4.10%    4.1%
                (DEC)

                JPY Job-To-Applicant
        23:30                             Low      0.8      0.8
                Ratio (DEC)

                JPY Household
        23:30                            Medium   -0.2%    0.2%
                Spending (YoY) (DEC)

 Fri            JPY Official Reserve
Feb 1
                                          Low             $1268.1B
                Assets (JAN)

                AUD Producer Price
        00:30                            Medium   0.3%     0.6%
                Index (QoQ) (4Q)

                AUD Producer Price
        00:30                            Medium   1.2%     1.1%
                Index (YoY) (4Q)

                CNY Manufacturing
        01:00                            Medium    51       50.6
                PMI (JAN)

                CNY HSBC
        01:45   Manufacturing PMI        Medium    52       51.5
                (JAN)

                JPY Vehicle Sales
        05:00                             Low              -3.4%
                (YoY) (JAN)

                AUD RBA Commodity
        05:30                             Low               89.2
                Price Index (JAN)

                AUD RBA Commodity
        05:30                             Low              -8.0%
                Index SDR (YoY) (JAN)

                CHF SVME-Purchasing
        08:30                            Medium   50.4      49.5
                Managers Index (JAN)

                EUR Italian Purchasing
        08:45   Manager Index             Low     47.6      46.7
                Manufacturing (JAN)
                EUR French
                Purchasing Manager
        08:50                             Low     42.9      42.9
                Index Manufacturing
                (JAN F)
                EUR German
                Purchasing Manager
        08:55                            Medium   48.8      48.8
                Index Manufacturing
                (JAN F)
                EUR Euro-Zone
                Purchasing Manager
        09:00                            Medium   47.5      47.5
                Index Manufacturing
                (JAN F)
                EUR Italian
        09:00   Unemployment Rate         Low     11.3%    11.1%
                s.a. (DEC P)

                GBP Purchasing
        09:30                            Medium    51       51.4
                Manager Index
        Manufacturing (JAN)
        EUR Euro-Zone
10:00   Unemployment Rate        Medium   11.9%    11.8%
        (DEC)

        USD Change in Non-
13:30                             High    155K     155K
        farm Payrolls (JAN)

        USD Change in Private
13:30                            Medium   162K     168K
        Payrolls (JAN)

        USD Change in
13:30   Manufacturing Payrolls    Low      10K      25K
        (JAN)

        USD Unemployment
13:30                             High    7.8%     7.8%
        Rate (JAN)

        USD Average Hourly
13:30   Earning (MoM) All        Medium   0.2%     0.3%
        Employees (JAN)
        USD Average Hourly
13:30   Earning (YoY) All        Medium   2.1%     2.1%
        Employees (JAN)
        USD Average Weekly
13:30   Hours All Employees       Low      34.5     34.5
        (JAN)
        USD Change in
13:30   Household                Medium             28
        Employment (JAN)

        USD Underemployment
13:30                            Medium            14.4%
        Rate (U6) (JAN)

        USD Markit US PMI
13:58                             Low
        Final (JAN)

        USD U. of Michigan
14:55                            Medium    71.3     71.3
        Confidence (JAN F)

        USD Construction
15:00                            Medium   0.5%     -0.3%
        Spending (MoM) (DEC)

        USD ISM
15:00                             High     50.5     50.7
        Manufacturing (JAN)

        USD ISM Prices Paid
15:00                            Medium    56       55.5
        (JAN)

        USD Domestic Vehicle
22:00                             Low     12.00M   11.97M
        Sales (JAN)

        USD Total Vehicle
22:00                             Low     15.20M   15.30M
        Sales (JAN)
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