Tuesday, November 18, 2008

forex EUR-USD Technical Analysis

The euro zone economic data is slightly weakening as you can see it on www.forexfactory.com. Great Britain CPI y/y 4.5% previous 5.2%, Core CPI y/y 1.9% previous 2.2%, RPI y/y 4.2% previous 5.0%.

The US economic data is significantly improve on major aspect such as TIC Long-Term Purchases 66.2 Billion previous 21 Billion, Core PPI m/m remain 0.4%, and PPI m/m -2.8% previous -o.4%. Upon this analysis i have not yet take into account Federal Reserve head (Ben Bernanke) testifies.

As a results you can see the market is moving downward gradually even though along the way you can notice random movement. The way ahead is non-other than to clear up the path way for further downfall of the pair.

eur/usd technical analysis
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