Euro retested the 1.33 key level but was rejected quite violently as the FOMC statement helped the USD. Weighing intra day was weaker than expected German CPI in January at -0.5% vs. -0.3% forecast. Looking ahead for German Unemployment is forecast at 7.7% . Euro zone December Private loans is forecast at 6.5% . Sterling pushed higher after tripping stops above 1.4250. The market was very bullish and tested supply at 1.4350 that held until the late USD forced some profit taking. Looking Ahead for January House Prices are forecast to fall -1.7% , expecting a -16.7% Y/Y drop.
Technical Outlook:
EURO R1: 1.3300 S1:1.3040
R2: 1.3320 S2:1.3020
chart pattern shows a sideways movement . Trading range for the day is expected between 1.3060-1.3280 levels for the day. Momentum and stochastic are seen trending up giving bullish outlook. Currency is trading between the fast and slow moving average giving bullish crossovers.
R2: 1.3320 S2:1.3020
chart pattern shows a sideways movement . Trading range for the day is expected between 1.3060-1.3280 levels for the day. Momentum and stochastic are seen trending up giving bullish outlook. Currency is trading between the fast and slow moving average giving bullish crossovers.
GBP R1: 1.4340 S1: 1. 4030
R2: 1.4360 S2: 1. 4020
chart pattern shows shows a sideways movement. Trading range is expected between 1.4050-1.4320 levels for the day. Currency is trading above the moving average but Momentum and stochastic are seen flat keeping silent on the trend.
R2: 1.4360 S2: 1. 4020
chart pattern shows shows a sideways movement. Trading range is expected between 1.4050-1.4320 levels for the day. Currency is trading above the moving average but Momentum and stochastic are seen flat keeping silent on the trend.
No comments:
Post a Comment