March 10th – 14th
EURUSD pair closed last week’s trading session firm higher after an impressive rally. The main reason behind the USD sell off, is Trump’s tariff war that dominate markets and pushing equity indices lower, as result to weigh negative on US Dollar. Trump is pushing for a peace deal in Ukraine and it looks like he is going to achieve this very soon, as a result to ease the geopolitical tensions that fueled US Dollar rally last few years. From Euro perspective, ECB cut interest rate by 0.25% as it was widely expected and this triggered a very small downside move in the pair. Friday’s downside move it might be due to some profit taking of long positions in the pair. As it reaches multi month highs after a 500 pips weekly rally.
As for this week, traders and investors will mainly focus on the US CPI number due to be release on Wednesday. A lower CPI print will trigger more selloff in US Dollar and push the pair even higher. Trumps trade war and Ukraine peace deal will be some additional factors for this week’s price action.
On the economic calendar we have on Wednesday the US CPI pointing lower at 2.9% On Thursday, US PPI expected t 3.6% Friday, German Harmonized index of consumer prices to remain unchanged at 2.8% and US Michigan consumer sentiment lower at 64
Technically the picture is positive after last week’s close above (61.8%) at 1.0832 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 took profit all their long positions. New short positions appeared at 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 firm higher after an impressive rally. The main reason behind the USD selloff, is Trump’s tariff war that dominate markets and pushing US equity indices lower, as result to weigh negative on US Dollar. Trump is pushing for a peace deal in Ukraine and it looks like he is going to achieve this very soon, as a result to ease the geopolitical tensions that fueled US Dollar rally last few years.
As for this week, traders and investors will mainly focus on the US CPI number due to be release on Wednesday. A lower CPI print will trigger more selloff in US Dollar and push the pair even higher. Trumps trade war and Ukraine peace deal will be some additional factors for this week’s price action.
On the economic calendar we have on Wednesday the US CPI pointing lower at 2.9% On Thursday, US PPI expected t 3.6% On Friday, US Michigan consumer sentiment lower at 64 the lack of any economic releases in the UK will let the pair trade on the mercy of US Dollar.
Technically the pair’s overall picture is positive after last week’s close above 61.8% at 1.2918 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 after most of the long positions took profit. 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 uptake profits on remaining long positions.
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