Week Ahead January 15 – 19
EURUSD pair closed last week’s trading session unchanged after the economic released from both side the EU and the US came in positive and higher than expectations. The positive Retail sales figure in the EU gave some traction in the pair, although it was short lived due to higher US CPI release that will add pressure on FED’s interest rate decision. Comments from FED’s officials were dovish as they highlight that is too early to speak about rate cuts. Stagnation in markets in general is a very often phenomenon during geopolitical tensions. We call it the calm before the storm. Things can be derailed and huge price relocation could happen as middle east is still boiling.
As for this week, traders and investors will be focus on the economic calendar and the middle east geopolitical tensions. The Inflation number from the EU will be the most important catalyst for any price action on the pair.
On the economic calendar we have on Tuesday, German Harmonized index of consumer prices to remain unchanged at 3.8% On Wednesday, EU core harmonized index of consumer prices to remain unchanged at 3.4% US Retail sales pointing higher at 0.4% On Friday, US Michigan consumer sentiment expected lower at 69.6
Technically the picture is positive after last week’s close just on (61.8%) at 1.0949 In this week’s trading session if pair continues on the upside will re-test 1.1100 If resumes on the downside it will retest 1.0860 (50%) Our traders are short at 1.0966 and 1.1107 targeting profits at 1.0760 We are expecting more aggressive short positions on the way up and new long positions at 1.0860 (50%)
GBPUSD pair closed last week’s trading session unchanged after another choppy trading week. The higher than expected US inflation number did not generate any volatility as it was overshadowed by the dovish comments from FED’s officials. Even though the US CPI came out higher than expectations US Dollar’s bull failed to gain traction and bot sides the US and the UK are looking for stronger catalyst before any price action. Another reason behind recent stagnation, are the geopolitical tension in middle east. Market participants are in standby and are closely monitoring the situation.
As for this week, traders and investors will be focus on the economic calendar releases and the geopolitical tensions in middle east. The most important catalyst behind any price action will be the UK inflation number.
On the economic calendar we have on Tuesday, the UK ILO unemployment rate pointing higher at 4.3% on Wednesday, UK consumer prices index pointing lower at 4.9% US Retail sales expected higher at 0.4% On Friday, UK retail sales expected lower at -0.5% and US Michigan consumer sentiment lower at 69.6%
Technically the pair’s overall picture is positive after last week’s close above (61.8%) at 1.2749 As for this week, if pair continues on the upside, will accelerate gains and open the road for 1.3126 Alternative, if resumes on the downside, will retest 1.2596 (50%) Our traders stay with short positions at 1.2723 targeting profits at 1.2500. We are expecting more aggressive short sellers above 1.2900 targeting profits at 1.2500 and long positions at 1.2460 targeting profits at 1.2825
Untuk acara kalender ekonomi yang lebih terperinci, silakan kunjungi kalender ekonomi langsung kami di:
https://tentrade.com/economic-calendar/
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