Will today’s economic data trigger big moves?

Dear Traders,

Market participants are very cautious ahead of the Fed decision on Thursday. Price fluctuations have been muted as a result. Nonetheless short-traders were able to gain a small profit by yesterday’s decline in the EUR and GBP.

Today, we will pay closer attention to important economic data such as U.K. Consumer Prices, the German ZEW survey and U.S. Retail Sales. Each report could have a more or less significant impact on the currency pairs, but since the market is dominated by uncertainty and risk-aversion, the reaction to these reports could result in unsteady and choppy swings.


Technically we see the next major resistance zone at around 1.14. Euro traders might look for an upside move until 1.14/ 1.1420. However, with a significant break below 1.1250, we expect the euro to depreciate towards 1.1180 and 1.11.



Important economic data:

8:30 UK CPI

9:00 EUR German ZEW Survey

12:30 USA Advance Retail Sales

(timezone: GMT)

Daily Forex signals:

View our daily signal alerts https://www.maimar.co/category/daily-signals/

Subscribe to our daily signal service https://www.maimar.co/signals/

We wish you good trades and many pips!

Any and all liability of the author is excluded.

Copyright © All Rights Reserved 2015 Maimar-FX.