Daily i-Forex Report by www.epicresearch.co 8th March 2013

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indore, India (prHWY.com) March 8, 2013 - HEADLINE
 Forex: EUR/JPY, EUR/USD And GBP/USD Primed For ECB, BOE
 EUR/USD- Trading The European Central Bank (ECB) Rate Decision
 EUR/USD- Trading The European Central Bank (ECB) Rate Decision

Pound May Fall as BOE Expands QE, Euro Eyes Draghi Comments
Monetary policy announcements from the European Central Bank and the Bank of England are in focus in European hours. Economists expect the BOE will maintain its asset-purchase program at £375 billion, but a plausible case for an increase in stimulus seems to have emerged. February's MPC meeting minutes showed three policymakers (King, Miles and Fisher) voting to boost purchases by £25 billion. Last week, Deputy Governor Paul Tucker likewise seemed receptive, saying he was "open to doing more" and adding that "nobody on the committee thinks that QE [is not] a useful instrument anymore". That means the doves need to secure just one more vote on the 9-member MPC to get their way. Such an outcome is likely to weigh further on the British Pound and we continue to hold short.

TRADING TIPS
* BUY EURUSD
ABOVE 1.3045
tgs 1.3065/1.3085
sl 1.3015

* BUY USDJPY
ABOVE 94.25
tgt 94.45/94.65
SL 93.95

* SELL GBPUSD
BELOW 1.4965
Tgt 1.4945/1.4925
SL 1.4995



ANALYSIS
HOURLY EURUSD CHART

OPEN: 1.2978
HIGH: 1.3044
LOW: 1.2975
CLOSE: 1.3010



* EURUSD LOOKS UPWARD
* TREND : BULLISH
* STRATEGY: BUY ON DEEPS
* MACD =>-.000(BULLISH SIGNAL)
* RSI => 50(BULLISH SIGNAL)


ANALYSIS

HOURLY USDJPY CHART

OPEN: 93.93
HIGH: 94.23
LOW: 93.79
CLOSE: 94.15



* USDJPY LOOKS UPWARD
* TREND: BULLISH
* STRATEGY: BUY ON DEEPS
* MACD => -0.02(BEARISH SIGNAL)
* RSI =>69(BEARISH SIGNAL)






ANALYSIS

HOURLY GBPUSD CHART

OPEN: 1.4994
HIGH: 1.5013
LOW: 1.4968
CLOSE: 1.4994




* GBPUSD LOOKS DOWNWARD
* TREND: BULLISH
* STRATEGY: SELL ON RISE
* MACD => .005( BEARISH SIGNAL)
* RSI => 34(BEARIISH SIGNAL)

HOURLY EURGBP CHART
OPEN: 0.8655
HIGH: 0.8698
LOW: 0.8652
CLOSE: 0.8678



* EURGBP LOOKS DOWNWARDS
* TREND: BULLISH
* STRATEGY: BUY ON DEEPS
* MACD =>-.003(BEARISH SIGNAL)
* RSI =>62(BEARISH SIGNAL)


HOURLY USDINDEX CHART

OPEN: 82.5670
HIGH: 82.5940
LOW: 81.2940
CLOSE: 82.3870





* USDINDEX LOOKS UPWARD
* TREND: BULLISH
* STRATEGY: BUY ON DEEPS
* MACD =>0.79(BEARISH SIGNAL)
* RSI =>59(BEARISH SIGNAL)
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