Daily i-Forex Report by www.epicresearch.co 21th March 2013

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Indore, India (prHWY.com) March 21, 2013 - HEADLINE
 Dollar Drops Alongside S&P 500 on European Troubles
 Cyprus Bank Levy Vote to Overshadow German, UK Economic Data
 GBP/USD- Trading The U.K.Consumer Price Report

All Eyes on Cyprus as Parliament Votes on EU Bailout Terms
Euro, Risk-Linked Currencies to Fall if Bank Levy is Ratified
UK CPI, German ZEW Data Unlikely to Drive FX Volatility
The economic fills out with top-tier event risk in European trading hours but the fiasco in Cyprus is likely to remain central for financial markets. The island nation's Parliament is due to vote on the terms of the controversial EU bailout deal that will impose a bank levy on deposits in Cypriot banks. Passage of the measure will set a precedent for debt crisis management that could spark bank runs in other Eurozone countries with sickly banks (notably Spain) as depositors look to safeguard their savings from potential future seizure. Fears of such an outcome stand to put the Euro under pressure. Overall risk appetite is likewise vulnerable in this scenario, threatening sentiment-geared currencies including the Canadian and Australian Dollars.

TRADING TIPS
* BUY EURUSD
BELOW 1.2915
tgs 1.2895/1.2875
sl 1.2945

* BUY USDJPY
ABOVE 95.50
tgt 95.50/95.70
SL 95.90

* SELL GBPUSD
ABOVE 1.5135
Tgt 1.5155/1.5175
SL 1.5105








ANALYSIS
HOURLY EURUSD CHART

OPEN: 1.2943
HIGH: 1.2970
LOW: 1.2916
CLOSE: 1.2950



* EURUSD LOOKS DOWNWARD
* TREND : BEARISH
* STRATEGY: SELL ON RISE
* MACD =>-.0004(BEARISH SIGNAL)
* RSI =>49(BEARISH SIGNAL)


ANALYSIS

HOURLY USDJPY CHART

OPEN: 95.36
HIGH: 95.75
LOW: 95.29
CLOSE: 95.36





* USDJPY LOOKS UPWARD
* TREND: BULLISH
* STRATEGY: BUY ON DEEPS
* MACD => -0.07(BULLISH SIGNAL)
* RSI =>51(BULLISH SIGNAL)






ANALYSIS

HOURLY GBPUSD CHART

OPEN: 1.5095
HIGH: 1.5135
LOW: 1.5073
CLOSE: 1.5120




* GBPUSD LOOKS UPWARD
* TREND: BULLISH
* STRATEGY: BUY ON DEEPS
* MACD => .002( BEARISH SIGNAL)
* RSI =>45(BEARISH SIGNAL)

HOURLY EURGBP CHART
OPEN: 0.8574
HIGH: 0.8586
LOW: 0.8553
CLOSE: 0.8561



* EURGBP LOOKS DOWNWARDS
* TREND: BEARISH
* STRATEGY: SELL ON RISE
* MACD =>-.003(BEARISH SIGNAL)
* RSI =>40(BEARISH SIGNAL)





HOURLY USDINDEX CHART

OPEN: 82.7180
HIGH: 83.8360
LOW: 82.6270
CLOSE: 82.6980



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



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