DAILY IFOREX REPORT 28th OCTOBER 2013

TRADING TIPS SELL GBPUSD BELOW 1.6114 TGT 1.6095/1.6075 SL 1.1.6140

BUY USDJPY ABOVE 97.60 TGT 97.80/98.00 SL 97.30

HEADLINES

US Core durable goods orders fell to a seasonally adjusted -0.1%, from -0.1% in the preceding month. U.K. GDP rises rose to 0.8%, from 0.7% in the preceding quarter German business climate fell to 107.4, from 107.7 in the preceding month
GBP/USD is challenging the high of its wide horizontal range defined by the support at 1.5886 and the resistance at 1.6260. The short-term structure favors a positive bias as long as the hourly support at 1.6116 holds. Another support stands at 1.6060. Thus far, GBP/USD does not confirm the fresh highs made by EUR/USD. USD slipped lower against YEN , as demand for the greenback remained under broad selling pressure amid growing expectations for the Federal Reserve to hold back from tapering its stimulus program until well into next year. The EUR was little changed against the USD, still hovering near two-year highs after the release of downbeat U.S. consumer sentiment data as investors remained focused on the Federal Reserve's upcoming policy decision.

Name
EUR/USD USD/JPY GBP/USD USD/CHF AUD/USD USD/CAD NZD/USD USD/SGD EUR/CHF EUR/JPY EUR/GBP EUR/AUD GBP/CHF GBP/JPY GBP/CAD GBP/AUD AUD/JPY

Last
1.3803 97.42 1.6167 0.8926 0.9584 1.0449 0.828 1.2357 1.2322 134.47 0.854 1.4403 1.4437 157.48 1.6891 1.6867 93.37

HOURLY EURUSD CHART

ANALYSIS EURUSD LOOKS UPWARD TREND: BULLISH STRATEGY: BUY ON DIPS RESISTANCE: 1.3830 SUPPORT: 1.3650

HOURLY USDJPY CHART

ANALYSIS USDJPY LOOKS DOWNWARD TREND: SIDEWAYS STRATEGY: SELL BELOW SUPPORT RESISTANCE: 97.55 SUPPORT: 96.90

HOURLY GBPUSD CHART

ANALYSIS GBPUSD LOOKS SIDEWAYS TREND: CONSOLIDATE STRATEGY: SELL BELOW SUPPORT RESISTANCE: 1.6255 SUPPORT: 1.6114

HOURLY EURGBP CHART

ANALYSIS EURGBP LOOKS UPWARD TREND: BULLISH STRATEGY: BUY ON DIPS RESISTANCE: 0.8530 SUPPORT: 0.8540

HOURLY USD INDEX CHART

ANALYSIS GBPUSD LOOKS DOWENWARD TREND: BEARISH STRATEGY: SELL BELOW SUPPORT RESISTANCE: 79.420 SUPPORT: 79.035

ECONOMIC CALLENDER

Time 10/28/13 02:30:00 AM 02:30:00 PM 04:30:00 PM 06:45:00 PM 06:45:00 PM 07:30:00 PM 08:00:00 PM

Cur.

Imp.

Event

Actual

Forecast

Previous

KRW EUR GBP USD USD USD USD

LOW LOW MIDIUM LOW MIDIUM MIDIUM LOW

South Korean Consumer Confidence Italian Business Confidence CBI Distributive Trades Survey Capacity Utilization Rate Industrial Production (MoM) Pending Home Sales (MoM) Dallas Fed Mfg Business Index

96.3 33 78.00% 0.40% 0.10%

102 96.6 34 77.80% 0.40% -1.60% 12.8

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