Daily i-Forex Report by www.epicresearch.co 22th March 2013

The The worst economic slump since the depths of the global financial crisis in 2008-2009 looks set to continue in Europe, as the core regions begin to feel the brunt of the slowdown.

Indore, India (prHWY.com) March 22, 2013 - HEADLINE
 Australian Dollar Higher As PMI Indicates China Growth Momentum
 Euro May Rise As PMI Data Overshadows Cyprus Jitters
 GJPY Trade Deficit Continues, But Devalued Yen May Help

AEUR/USD Slips Under $1.2900 after Big Misses on Euro-zone, German PMIs
THE TAKEAWAY: EUR Euro-zone, French, and German PMI data for March disappoints across the board, signaling steeper recession which is likely to continue through 3Q'13 > EURUSD BEARISH
The The worst economic slump since the depths of the global financial crisis in 2008-2009 looks set to continue in Europe, as the core regions begin to feel the brunt of the slowdown. The preliminary March PMI figures out of France, Germany, and the broader Euro-zone all disappointed across the board, with all but one - German PMI Services - holding in or falling back into contraction territory. The headline figures are as follows:

TRADING TIPS
* BUY EURUSD
BELOW 1.2880
tgs 1.2860/1.2840
sl 1.2910

* BUY USDJPY
ABOVE 96.05
tgt 96.25/96.45
SL 95.75

* SELL GBPUSD
ABOVE 1.5205
Tgt 1.5225/1.5245
SL 1.5175








ANALYSIS
HOURLY EURUSD CHART

OPEN: 1.2939
HIGH: 1.2955
LOW: 1.2880
CLOSE: 1.2896



* EURUSD LOOKS DOWNWARD
* TREND : BEARISH
* STRATEGY: SELL ON RISE
* MACD =>-.0004(BEARISH SIGNAL)
* RSI =>38(BEARISH SIGNAL)


ANALYSIS

HOURLY USDJPY CHART

OPEN: 95.94
HIGH: 96.03
LOW: 95.21
CLOSE: 95.41



* USDJPY LOOKS UPWARD
* TREND: BULLISH
* STRATEGY: BUY ON DEEPS
* MACD => -0.07(BULLISH SIGNAL)
* RSI =>41(BULLISH SIGNAL)






ANALYSIS

HOURLY GBPUSD CHART

OPEN: 1.5094
HIGH: 1.5204
LOW: 1.5092
CLOSE: 1.5173



* GBPUSD LOOKS UPWARD
* TREND: BULLISH
* STRATEGY: BUY ON DEEPS
* MACD => .002( BEARISH SIGNAL)
* RSI =>66(BEARISH SIGNAL)

HOURLY EURGBP CHART
OPEN: 0.8572
HIGH: 0.8573
LOW: 0.8492
CLOSE: 0.8501


* EURGBP LOOKS DOWNWARDS
* TREND: BEARISH
* STRATEGY: SELL ON RISE
* MACD =>-.003(BEARISH SIGNAL)
* RSI =>27(BEARISH SIGNAL)








HOURLY USDINDEX CHART

OPEN: 82.8330
HIGH: 83.0210
LOW: 82.7410
CLOSE: 82.8480




* USDINDEX LOOKS DOWNWARD
* TREND: BEARISH
* STRATEGY: SELL ON RISE
* MACD =>0.22(BEARISH SIGNAL)
* RSI =>51(BEARISH SIGNAL)



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