Place USD traders to the spotlight on Philadelphia Fed and leading indicators report

By Michael Wright, MI currency analyst Oct 20 15: 50: 00 GMT 2010 US leading indicators (SEP) Philadelphia Fed Business Outlook

Expectations: 0.3% expectations: 2.0 leading indicators in the world's largest economy are fundamental Outlook expected to 0.3% in September after climbing 0.3 per cent of the month to promote that will mark the third consecutive monthly advance. The report is of great importance due to the fact that precede the index indicators that supposedly includes on major developments in the economy such as employment and consumer goods orders among many others. Now's Philadelphia Fed Business Outlook for the month October predicts expected in October with numbers that where 0\r from September's reading of - 0.7 rebound. A reading on line or bode, economists exceed approaches will be good for the United States since the report an improved Outlook from produced would suggest that is positive for production and economic growth. Components that should not be overlooked if prices paid to digest the report, new jobs and employment. Economists like the last are optimistic on tomorrow's releases. If numbers in the row or expectations exceed additional upside momentum can face the US dollar as the currency back looks ground against most of his colleagues after trading in overbought/oversold levels for a considerable time. Technical Outlook EURUSD daily chart charts created using FXCM's strategy trader EURUSD: the couple has finally below the increasing channel, since early September is broken remained intact. At the same time price action slipped and below the 10-day SMA, closed, during the parabolic a sell signal yesterday showed. Than in recent times the EURUSD struggling to break back above the 20 day moving average. A close below this level today validated further losses back towards 1.3500.Not forgetting crossed the MACD down yesterday, that is characteristic of additional declines. for more technical analysis visit the DailyFX technical page written by Michael Wright, currency analyst to receive future articles via email, please contact is me under mwright@fxcm.com Michael Wright author FX news, Fundamentals vs. technical of intraday trading, Forex trading weekly forecast weekly spotlight

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Wed Oct 20 15: 50: 00 GMT 2010

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