March 17th – 21st
EURUSD pair closed last week’s trading session marginally higher after hovering around same levels during last week’s trading session. The softer than expected US CPI pushed the pair lower as investors are pricing in a rate cut by the FED. Although downside was erased as fast as it came due to investors muted trading as they are trying to catch up with Trump’s tariffs and the effect on US economy.
As for this week, traders and investors will mainly focus on the FOMC due to be released on Wednesday. No interest rate cut is expected at this meeting, although projections for future interest rate path of FED will generate some volatility.
On the economic calendar we have on Monday, US Retail sales pointing higher at 0.7% On Wednesday, European core Harmonized index of consumer prices to remain unchanged at 2.6%
Technically the picture is positive after last week’s close just below (100%) at 1.0874 In this week’s trading session if pair trades on the upside will test 1.0931 (100%) A break out and close above 1,0931 will open the road for 1.1031 If trades on the downside will test 1.0651 A break and close below 1.0651 will add downside pressure and test 1.0562 Our traders are net short positions between 1.0647 – 1.0847 targeting profits at 1.0643 if pair trades on the downside we are expecting take profits on short positions and new long positions starting at 1.0647
GBPUSD pair closed last week’s trading session marginally higher after hovering around same levels during last week’s trading session. The softer than expected US CPI pushed the pair lower as investors are pricing in a rate cut by the FED. Although downside was erased as fast as it came due to investors muted trading as they are trying to catch up with Trump’s tariffs and the effect on US economy. From UK side the gross domestic product disappointed investors as it signals a contraction of 0.1% for the UK economy weighted negative on GBP and kept the pair muted.
As for this week, traders and investors will mainly focus on the FOMC due to be released on Wednesday, and, BOE intertest rate decision due to be release on Thursday. No interest rate cut is expected at these meetings, although projections for future interest rate path of both central banks, will generate some volatility.
On the economic calendar we have on Monday, US Retail sales pointing higher at 0.7% On Thursday, UK ILO unemployment rate expected higher at 4.5%
Technically the pair’s overall picture is positive after last week’s close above 61.8% at 1.2935 As for this week, if pair trades on the upside, will test 1.3037 (100%) A break and close above 1.3037 will open the road for 1.3137 Alternative, if trades on the downside, will test 1.2680 (61.8%) A break and close below 1.2680 will open the road for 1.2571 Our traders are 50% long 50% short. Traders now are standing with sell and buy positions between 1.2680 and 1.3038 for the long ones targeting profits above 1.3038 and the short one targeting profit at 1.2680 We are expecting more aggressive short positions on the way up and take profits on remaining long positions.
Para conocer con más detalle los acontecimientos del calendario económico, visite nuestro calendario económico en directo en:
https://tentrade.com/economic-calendar/
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