Finally we came out of such long out-of-market position. We have fixed a profit according to yesterday’s analysis of USD/CAD – 26 points. A position opening – 1.36148, a profit -1.35892. Today will bring an interesting event – at 14:30 (CET, server time) US Bureau of Statistics will release Core retail sales for the current month. That’s a basic indicator of American economy state. It doesn’t include a volatile transport component and that’s why it gives a stable representation of the consumer markets trends. A forecast of Core retail sales change is 0.1%. It is 0.6% less then in the previous month. If an actual value falls below the forecast, we shall expect a weakening of the American currency. Update: US Retail Sales disappoint and fall – USD extends sell off In our opinion unambiguous terms of Japanese Yen trade are created. Today a price has crossed a bullish trend line and the Pivot resistance simultaneously. This is a significant signal of a probable direction change. An oscillator RSI(14) has done a “correct reversal” and returned from the opposite side to the support line. We shall expect a breakdown of the 37.218 level. ParabolicSARconfirms a change of tendency direction and moved higher then price. We recommend placing of a pending SELL order lower then the 101.972 mark 15 minutes before Core retail release. If a value of macroeconomic indicator drops below the forecast (0.1%) then a position should be preserved. A nearest target is defined by the Fibonacci system and specified according to the historical minimum. We shall place the “take profit” at the 101.652 mark. Risks are limited by the resistance 102.633. This is a reliable level, confirmed by a first Pivot resistance and last ParabolicSAR values. At the same time a risk level should be shifted according to the trend indicator every 4 hours. In any case we recommend to hold position until the publication of Business Inventories at 16:00 CET. Direction down Position opening lower than 101.972 Target higher than 101.652 A preliminary stop higher than 102.633 For more, see the USDJPY forecast. Dimitry Loukashov Dimitry Loukashov Dmitry Loukashov â€“ analytic at IFC Markets He has started his professional activities in the financial market as a trader of stocks and bonds. He has FFMS 1.0 certificate and a certificate for transactions on the MICEX. He has graduated from the Textile Institute, â€œAccounting, control and analysis of economic activity." Dmitry predicts the market on the basis of fundamental analysis. He has a ten-year experience and broad knowledge on the international currency market View All Post By Dimitry Loukashov Forex News Today: Daily Trading News share Read Next Taking Stock in February Guest 8 years Finally we came out of such long out-of-market position. We have fixed a profit according to yesterday's analysis of USD/CAD - 26 points. A position opening - 1.36148, a profit -1.35892. Today will bring an interesting event - at 14:30 (CET, server time) US Bureau of Statistics will release Core retail sales for the current month. That's a basic indicator of American economy state. It doesn't include a volatile transport component and that's why it gives a stable representation of the consumer markets trends. A forecast of Core retail sales change is 0.1%. It is 0.6% less then in the… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk.4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk.5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.