March 24th – 28th
EURUSD pair closed last week’s trading session lower on hawkish FOMC. Despite that the FED maintained interest rates unchanged as it was expected, the central minutes show that are not in a harry to reduce interest rates. Apart for the hawkish FOMC, speech by FED’s Powell sent a warning signal in the markets after highlighted that Trump’s tariffs could have negative impact on US economy and could push inflation higher. With all the above US Dollar gather some strength during last week’s trading session. From the European side, ECB’s Lagarde also warned about potential risks and higher inflation given Trump’s new policy.
As for this week, traders and investors will mainly focus on the US core PCE index due to be release on Friday. Without any schedule high impact events, the pair is poised to trade within the same range and any price action will be solely followed by the economic calendar.
On the economic calendar we have on Monday, the European services PMI pointing higher at 51 and US services PMI pointing higher at 51.2 On Wednesday, US durable goods orders expected lower at -0.7% On Thursday, US Gross domestic product to remain unchanged at 2.3% On Friday US PCE index expected to remain unchanged at 0.3%
Technically the picture is positive after last week’s close just above (61.8%) at 1.0811 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 (61.8%) A break and close below 1.0651 will add downside pressure and test 1.0562 Our traders are net short positions between 1.0647 – 1.0935targeting 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 lower on hawkish FOMC. Despite that the FED maintained interest rates unchanged as it was expected, the central minutes show that are not in a harry to reduce interest rates. Apart for the hawkish FOMC, speech by FED’s Powell sent a warning signal in the markets after highlighted that Trump’s tariffs could have negative impact on US economy and could push inflation higher. From the UK side, BOE kept interest rates unchanged as it was widely expected, although, the central bank failed to give any future solid indications, and this spark uncertainty between investors.
As for this week, traders and investors will mainly focus on the economic released with the main ones the UK inflation and the US PCE index. Pair is expected to trade within same range and any price action will be followed by the economic releases from both sides.
On the economic calendar we have on Monday, the UK services PMI pointing higher at 51.2 and US services PMI pointing higher at 51.2 On Wednesday, UK CPI expected lower at 3.6% and US durable goods orders expected lower at -0.7% On Thursday, US Gross domestic product to remain unchanged at 2.3% On Friday UK Gross domestic product expected to remain unchanged at 0.1% and US PCE index expected to remain unchanged at 0.3%
Technically the pair’s overall picture is positive after last week’s close above 61.8% at 1.2917 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 1000% short. After they took profit all their long positions last week. Traders now are standing with sell positions between 1.2680 and 1.3011 We are expecting more aggressive short positions on the way up and new long positions starting at 1.2680 (61.8%).
Pour un calendrier économique plus détaillé, veuillez consulter notre calendrier économique en direct sur :
https://tentrade.com/economic-calendar/
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