Fed Chairman Janet Yellen Testimony

Dear Traders,

what’s going on this week?

We will listen to the speeches of Janet Yellen  (Tuesday & Thursday) and Mario Draghi (Wednesday).

Yellen will speak the first time before the U.S. Congress since being chairman of the Federal Reserve. Market strategists expect that she will reinforce the Feds’ steady tapering course.

From the technical point of view we should expect following:

EUR/USD

 

The Euro is trading in a down-trend channel. We should presume that a drop is very likely.

We go long above the level @1.3660 until 1.3710

We go short below the level @1.3590 until 1.3550/00

GBP/USD

The Cable has a strong support at this level drawn in the picture.

We will look out for long contracts until 1.6500/60. For short contracts we will have our target at the level of 1.6300.

Daily, we update all our signal subscribers with exact entries and Take Profits Levels as well as appropriate money-management.

We wish you many good trades and a beautiful week.