Majors Daily Forecast 31 August 2012

EUR/USD
Trading range: 1.2485 - 1.2585
Trend: Upward
Buy at 1.2495 SL 1.2463 TP 1.2572

USD/JPY
Trading range: 78.30 - 79.25
Trend: Upward
Buy at 78.40 SL 78.08 TP 79.12

GBP/USD
Trading range: 1.5765 - 1.5880
Trend: Upward
Buy at 1.5779 SL 1.5747 TP 1.5867

USD/CHF
Trading range: 0.9620 - 0.9520
Trend: Downward
Sell at 0.9610 SL 0.9642 TP 0.9526

Today's Economic Calendar:
Time GMT, Country, Indicator, Forecast, Prior

05:00 Japan Housing starts July Y/Y - -0.2%
05:00 Japan Construction orders July Y/Y - 4.6%
06:00 Germany Retail sales July real adjusted - -0.1%
06:00 Germany Retail sales July real unadjusted Y/Y - 2.9%
09:00 Italy CPI August preliminary - 0.1%
09:00 Italy CPI August preliminary Y/Y - 3.1%
09:00 Italy HICP August preliminary Y/Y - 3.6%
09:00 EU17 Harmonized CPI August Y/Y preliminary - 2.4%
09:00 EU17 Unemployment July 11.3% 11.2%
10:00 Italy PPI July - -0.1%
10:00 Italy PPI July Y/Y - 2.1%
12:30 Canada GDP June 0.1% 0.1%
13:45 USA Chicago PMI August 53.0 53.7
13:55 USA Michigan sentiment index August final 73.7 73.6
14:00 USA Factory orders July 2.0% -0.5%
14:00 USA Bernanke speaks in Jackson Hole

*Please note that the daily forecast is sent on time to subscribers only, who receive also updates, evening forecast, news and real time trading signals, from which we have made today so far +50, total yesterday +28 pips, as shown at our web site.