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FX Lesson of the Day: Defining the trend
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Current Session: U.S.

EUR/USD

Daily Technical Briefing - "Dollar In Early Stages of Major Uptrend" by FXCM

While one more high above 1.3174 is possible, we maintain that this could be a MAJOR top (the end of an A-B-C correction from 1.2865). Only a break below 1.2865 confirms that wave 3 down is underway. A break of 1.2865 would shift focus to 1.2667, which is where the 1.3370-1.2865 decline would equal the decline from 1.3174. Again, one more high in the 5th of the C wave is possible but don't expect a rally to push much beyond 1.3174.

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Take a look at what our FX Advisor has to say on the main currencies
Check out how the currency moved on Live Currency Rates & Charts at FXstreet.com
Follow up the most relevant Economic Data in the new Real Time Economic Calendar
Be up to date with the Latest Forex News

Currencies at a Glance

EUR/USD: Trades around 1.3130
2/19/2007 2:00:50 PM
GBP/USD: Trades around 1.9450
2/19/2007 2:02:52 PM
USD/CHF: Continues to trade around 1.2340
2/19/2007 2:04:13 PM
USD/JPY: Trades above 119.60
2/19/2007 2:06:25 PM

Analyst Sentiment Index (ASI)

Analysts Sentiment Index - EUR/USD

**Source : CMS Forex, Danske Bank A/S, FXstreet.com, Global Forex Trading Ltd. , KBC Bank, Mizuho Corporate Bank

[ View ASI page ] [ View EUR/USD page ]

Charting the Market Movers

EUR USD, Hourly

GBP USD, Hourly

Top Market Movers Preview

Germany PPI

Period	Consensus	Previous	Time
January	0.1%	0%	Feb 20, 07:00 GMT

Tony Juste, FX Advisor at FXstreet.com:
"Germany's producer prices are one of the measures the ECB has to gauge what may be next for inflationary pressures, if any. The data is out right at the open of the European session, and I do feel we will have some volatility, as market is monitoring very closely all the news regarding the topic of inflation in the Eurozone." - FXstreet.com

Top Market Movers Review

UK Rightmove house prices

Period	Consensus	Previous	Actual
February	N/A	0.5%	0.9%

Overnight Briefing: Far East Timezone - UK house prices by Jyske Bank

Asking prices for homes in Britain rose an annual 11.5 % this month, the weakest reading in four months, in a sign the market is stabilising amid higher borrowing costs. Property Web site Rightmove said February's annual rate compared with a 13.5 % rate in January and was the lowest since last October.