The Euro advanced for the second day to reach a high of 1.3957 during the overnight trade, and the single-currency many continue to retrace the sharp decline from the previous week as the economic docket reinforces an enhanced outlook for future growth.

Talking Points
• Japanese Yen: USDJPY Continues to Hold Below 20-Day SMA (90.98)
• Pound: Construction Weakens at Slowest Pace in Nearly Two-Years
• Euro: Producer Prices Unexpectedly Increase in December...

US Dollar Forecast to Appreciate versus Euro Ahead of NFPs Data

Read more: DailyFX - Forex Weekly Trading Forecast - 02.01.10 http://www.dailyfx.com/forex/fundame...#ixzz0eILyITWI
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DailyFX released a new pivot point tool today.

You can choose from 4 data types: Pivot Points, Camarilla, Woodie, and OHLC. I selected Pivot Points for the screenshot above and circled in red the pivot point level. To the left of the pivot point level is the support levels and to the right is the resistance levels.

As a general overview, a pivot point takes yesterday's high, low, and close then divides it by 3 to give you the pivot point. Traders often look at the...

The British Pound is little changed from the previous day and continued to hold the broad range carried over from the previous, but we may see the GBP/USD face increased volatility going into the North American trade as investors wait for the U.S. advanced 4Q GDP report due out at 13:30 GMT.

Talking Points
• Japanese Yen: Weighed by Risk Appetite
• Pound: BoE Completes Asset Purchases
• Euro: CPI Estimate Falls Short of Expectations
• US Dollar:...

The Euro extended the two-day decline and slipped to a fresh monthly low of 1.3932 during the overnight trade, but we may see a corrective retracement in the EUR/USD over the remainder of the week as the RSI continues to slip deeper into oversold territory.

Talking Points
• Japanese Yen: Losing Ground Across the Board
• Pound: Maintains Board Range Against the Greenback
• Euro: European Confidence Hits 10-Month High
• US Dollar: Durable Goods...