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[B]U.S. Consumer Price Index and Retail sales, US, Consumer Sentiment and Federal Reserve Bank of Kansas President Thomas Hoenig’s speech in Nebraska are the major events closing another trading week. Here is an outlook on today’s market moving events.[/B]

In the US, Consumer Price Index, the main measure of inflation and U.S. Retail Sales, an important measure of consumer spending expected to increase by 0.2% from a reading of -0.1% in the previous month. The U.S. retail sales are also forecasted to pick up by 0.5% m/m in July from -0.5% in June.

Read the rest of the [URL="http://www.forexcrunch.com/category/daily-analysis/"][I][B]forex daily outlook[/B][/I][/URL].

INTRADAY TRADING SIGNAL BY ACETRADER.COM: EUR/USD
EUR/USD: 1.2874

Late Update At 13 Aug 2010 05:50 GMT

Euro has risen again after a brief pullback fm
Asian morning high at 1.2868 to 1.2852, suggesting nr term rise fm y'day's low at 1.2780 wud now head to 1.2900, however, as this move is seen as retracement of early fall fm 1.3334, res 1.2933 shud hold.

Raise long entry for this move with stop as indi
cated n only below 1.2821 confirms recovery over.

Range Forecast
1.2860 / 1.2890


Resistance/Support
R: 1.2900/1.2933/1.2954
S: 1.2852/1.2821/1.2780

http://www.acetraderfx.com

EURUSD Forecast:
The EURUSD was indecisive yesterday. I found something interesting about the CCI behavior on h4 chart below. Here is the situation: Price still move in bullish channel, indicating we are in bullish phase, but corrected lower from 1.3332 to 1.2782. Now look at my CCI. The A part show that the bullish gained its momentum back after being in oversold area and cross the -100 line up. The B part show that CCI cross the -100 line up, but the bearish pressure didn't stop and price keep under bearish pressure. Now we are in the C part, where CCI also in oversold area and cross the -100 line up. Learning from past experience, from here the bullish and bearish scenario probability is 50-50. Although we are seeing some upside ...

INTRADAY TRADING SIGNAL BY ACETRADER.COM :
AUD/USD: 0.9009

Last Update At 13 Aug 2010 04:13 GMT

Aussie's intra-day rally n breach of prev. res
at 0.9008 confirm a temp. low has been formed at 0.8915 y'day n upside bias is seen for a stronger retrace. twd 0.9025/35, however, price shud falter well below 0.9058 res n bring retreat later.

Buy on dips for st trade n thereafter sell for
day trade. Below 0.8960, recovery is over, 0.8915.

Range Forecast
0.8990 / 0.9020

Resistance/Support
R: 0.9058/0.9099/0.9141
S: 0.8960/0.8915/0.8906

http://www.acetraderfx.com