ForexPros Daily Analysis August 12, 2010 Fundamental Analysis: CPI The Consumer Price Index (CPI) measures the changes in the price of goodsand services. The CPI measures price change from the perspective of theconsumer.
Over four-hour basis we can see a rising wedge formation which has influenced trading recently, where the index beached the support yesterday after a successful retest to the previously breached support at 10580 which turned into resistance.
Wednesday proved that risk appetite clearly can be taken off the table quickly. The USD gained versus the EUR and GBP, as its stable performance the past couple of days grew into strong momentum.
The EUR had one of its worst days in a while on Wednesday as it found itself under a risk adverse cloud. There was little in the way of data from Europe yesterday and safe haven trading...
The Sterling got crunched on Wednesday as the Bank of England did little to clearly answer the concerns regarding the U.K. economy. Along with risk appetite taking a hit from the lackluster sentiment coming from the U.S...
The JPY continued to be the domain of risk adverse trading on Wednesday as Japanese Treasuries found hungry investors as the Nikkei went into decline. The JPY is trading near the highest marks of its value.
EURUSDThe pair has sharply descended since yesterday touching 61.8% Fibonacci correction around 1.2830 and rebound to the upside calmly, due to the positive effect of momentum indicators. We expect a breach of the previous bullish channel that...
Crude succeeded in breaching the awaited support for the ascending channel pointed out in our reports yesterday, where the bearish trend has halted at 50% Fibonacci correction for the bullish short term wave that has stabilized within...
EURUSD: After struggling to cross major Resistance at 1.30, the EUR after a week and half retreated back below 1.30. The EUR will look to find Support at the 100 day MA. However, a solid close below...
Fears about global growth prospects fueled strong gains by the USD and JPY against most of their counterparts as investors turned to safe haven currencies following a stream of negative economic data from the U.S, China and...
