Currencies  |  February 13, 2013 14:25:00

EUR / USD reacts to retail sales in the U.S. Retail sales in the U.S. in January lunch our mom growth of just 0.1 percent (in line with analysts' estimates). Failed to complement the successful December, when they increased by 0.5 percent. Economists explain this increase in taxes and more expensive gasoline. The data suggest that households responded to the expiration two percent relief on income tax to 1 January. Taxes also rose wealthy Americans. These fiscal measures will have an impact on slowing revenue growth in the first quarter of 2013.

Retail sales adjusted for prices of cars, fuel and building materials (Core retail sales) increased in January rose by 0.2 percent.This index closely matches the folder consumer spending in the official data on gross domestic product. Consumer spending represents about 70 percent of U.S. economic activity, in the 4th quarter of 2012 increased compared to the last quarter of 2011 by 2.2 percent. This rate, however, in the current quarter likely to slow.

Eurodollars are stopped at Fibonacci resistance levels predicted 38.2 and created a reverse formation pinbar. He has now also 4 hours chart, and could increase pressure on traders in long positions who would start to get rid of euros, which would bring more sale. It is worth mentioning hidden bearish divergence, which supports the theory of sales.

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