Daily i-Forex Report by http://www.epicresearch.co 6th February 2013

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indore, India (prHWY.com) February 6, 2013 - HEADLINE

* Record High Output Index Sends Euro Above 1.35
Dollar Sanguine after Second Biggest EUR/USD
Drop in 6 Months
Yen Pins Rebound Hopes On Soft US Data,
Europe Jitters

Forex News: Sterling Tests 1.58 on Return to Increasing Services Activity
THE TAKEAWAY: UK PMI for services rises to 51.5 in January -> PMI supports hopes for economic growth in Q1 -> Sterling tests 1.5800
The UK services industry returned to increased activity in January, according to Markit's Purchasing Managers' Index. The PMI for services was reported at 51.5, beating expectations for 49.5 and higher than December's 48.9 PMI. The UK services PMI dipped below the neutral 50.0 result in December for the first time in two years.

 TRADING TIPS

* SELL EURUSD

BELLOW 1.3455
TGS 1.3441/1.3427
SL 1.3469

* BUY USDJPY

ABOW 93.04
TGS 93.18/93.32
SL 92.84




* BUY GBPUSD

ABOVE 1.5804
TGS 1.5818/1.5832
SL 1.5784

ANALYSIS
HOURLY EURUSD CHART

OPEN: 1.3510
HIGH: 1.3550
LOW: 1.3458
CLOSE: 1.3540

* EURUSD LOOKS DOWNWARD
* REVERSAL
* STRATEGY: SELL ON RISE
* MACD =>. -0009(BEARISH SIGNAL)
* RSI => 50(BEARISH SIGNAL)


ANALYSIS

HOURLY USDJPY CHART

OPEN: 92.16
HIGH: 93.04
LOW: 92.12
CLOSE: 92.99
* USDJPY LOOKS UPWARD
* TREND: BULLISH
* STRATEGY: BUY ON DEEPS
* MACD => 0002( BULLISH SIGNAL)
* RSI =>58(BULLISH SIGNAL)


ANALYSIS

HOURLY GBPUSD CHART

OPEN: 1.5757
HIGH: 1.5804
LOW: 1.5727
CLOSE: 1.5772
* GBPUSD LOOKS UPWARD
* TREND: BULLISH
* STRATEGY: BUY ON DEEP
* MACD => .0005( BEARISH SIGNAL)
* RSI => 57(BEARISH SIGNAL)

HOURLY EURGBP CHART
OPEN: 0.8574
HIGH: 0.8590
LOW: 0.8554
CLOSE: 0.8590

* EURGBP LOOKS DOWNWARDS
* TREND: BEARISH
* STRATEGY: SELL ON RISE
* MACD =>.00052(BEARISH SIGNAL)
* RSI =>49(BEARISH SIGNAL)


HOURLY USDINDEX CHART

OPEN: 79.5880
HIGH: 79.7850
LOW: 79.4930
CLOSE: 79.5220

* USDINDEX LOOKS DOWNWARD
* TREND: BEARISH
* STRATEGY: SELL ON RISE
* MACD =>0.0125(BEARISH SIGNAL)
* RSI =>48(BEARISH SIGNAL)

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