In premarket trading for US stocks, futures implying:
S&P index up 83 pointsNASDAQ index up 340 pointsEURUSD: The EURUSD moved higher and extended briefly above the 38.2% retracement of the move down from the December high to the January low. That retracement level comes in at 1.03494. The high price reached 1.03538. The current price is trading at 1.0335. If the price for the EURUSD is to continue its run to the upside, getting and staying above the 38.2% retracement is requirement. Absent that, and it's just a plain-vanilla correction in what has been a more bearish market trend.
Conversely, dip buyers could uses area as a buying opportunity with a stop below the aforementioned level at 155.94. Big test for the sellers and buyers in the USDJPY
GBPUSD:Before the CPI, the GBPUSD was trading above and below its 100 hour moving average at 1.22199. The price has now moved above the 38.2% retracement of the January trading range at 1.22808. So far the price is holding support against that level keeping the buyers in play. However, there is work to do with the 200 hour moving average at 1.2332 and the 50% of the January trading range at 1.2337 still key targets to get to and through to show more bullish corrective strength.
This article was written by Greg Michalowski at www.forexlive.com.Hence then, the article about usd moves lower after us cpi data was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
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