Painted on yesterday chart wedge worked more than 100%. Breaking its lower bound, the EURUSD pair fell all day yesterday and only calmed down tonight, reaching 1.1250. At the same time it has fallen below the lows of Tuesday and returned to the values of November 12 last year. Followed by a rebound to 1.1280, but the downward channel is still valid, the target is at around 1.1215.
Reduce the EURUSD yesterday contributed background information. Industrial production Euro zone in December was worse than expected: 0.9% m / m instead of the expected 0.4% m / m, and -4.2% g / g instead of the expected -3.2% g / g. In the US, the January CPI and the CPI excluding food and energy were higher (read: better) expectations. CPI increased in January 1.6% g / g against the expected 1.5%. Core CPI added 2.2% g / g instead of the expected 2.1%.
Today information day for the EURUSD will be too saturated. In Euro zone come preliminary GDP data for the fourth quarter, is expected to increase by 0.2% q / q, and 1.2% g / g. The US was to publish data on retail sales excluding autos are expected to rise by 0.1% m / m.
The euro dollar EURUSD forecast Alpari