Forexpros.com Daily Analysis - 10/06/2010

[forexpros]

ForexPros Daily Analysis June 10, 2010


Free webinar on ForexPros - Simple Chart Pattern Trading

Expert: Kellie Durazo, Fx V-room
When: Wed, June 30, 2010, 10:00 a.m. EST

Remember learning patterns in elementary school and how easy they were to figure out? We can use this same technique to interpret different types of patterns on your technical Forex charts to identify possible trading set ups in the market, the easy way. During this webinar, Kellie Durazo will review many different types of chart patterns that will enhance your technical analysis and give you more trading opportunities for profit in the fx market.



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Fundamental Analysis: Core Retail Sales

Traders of the US await the Core Retail Sales publication. It is a monthly measurement of all goods sold by retailers based on a sampling of retail stores of different types and sizes in the US, excluding auto. It is an important indicator of consumer spending and also correlated to consumer confidence and considered as a pace indicator of the US economy. A higher than expected reading should be taken as positive/bullish for the USD, while a lower than expected reading should be taken as negative/bearish for the USD.
Analysts predict a future reading of 0.10%.

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[color=black]The Euro broke yesterday