The US PPI data came in stronger than expectations. That lined up with the CPI data from earlier this week but not with the retail sales from yesterday’s trade. On Tuesday after the CPI was all the dollar move higher. Yesterday after the retail sales we saw the dollar will lower, and today after the PPI data we are seeing the dollar move back higher again.
What has the moves today down to the three major currency pairs from a technical perspective?
In this video, I will take a look at the EURUSD, USDJPY and GBPUSD from a technical perspective. What is the bias for each? What are the risk levels and the targets? Those are the 3 most important things that all traders should understand and have a proxy for their trading. Otherwise risk is unlimited and trading is done without a rudder – two things that will lead to failure.
This article was written by Greg Michalowski at www.forexlive.com. Source