Trichet press conference can influence the market

EUR / USD

Euro / dollar had a moderate bullish momentum yesterday, as did the peak of 1.4294 and closed slightly down to 1.4259. Of the four graphics can be seen that the formation „ascending wedge“ was broken down, suggesting a potential bearish scenario, but this is further limited by 1.4180 support level and generally the couple is still undergoing consolidation. Tendency is the scourge in the near term in order to test 1.4350, but remained neutral in the medium term. Break above this level will lead to future bullish momentum towards 1.4446. Today, market participants expect the ECB’s decision on interest rates and their press conference, which is expected to drive the market for the day. ECB expected to keep interest rates at 1%, so that attention will be directed primarily at the press conference where Trichet will give comments on the outlook for the economy.
GBP / USD

GBP / USD had a bullish momentum yesterday, as did peak close to 1.6298 and 1.6264. The daily schedule can be seen that the couple fought about a line of support and 23.6% Fibonacci correction (from 1.3653-1.7042) around 1.6250. The price is now testing the upper limit of the bearish channel. Expectations are bullish in the near term in order to test 1.6375, but remained vague in the medium term. CCI has just crossed the border on a daily schedule -100, suggesting a potential upward pressure. Immediate support is at 1.6110. Break below this level will lead to a future bearish momentum to the psychological 1.6000.
USD / JPY

Dollar / yen continued its bearish momentum yesterday, as did bottom of 92.09 and closing at 92.23. Daily schedule still have valid bearish channel. Y expectations remain bearish near term, but as seen on a daily schedule, we have strong support of 91.80, which can be considered as a potential double bottom, giving warning of a potential upward adjustment. But a clear break below 91.80 will remain bearish scenario to 89.80, even 87.10. Resistance is close to 92.70.
USD / CHF

Dollar / franc had moderate bearish momentum yesterday. Schedule of one hour can be seen that the couple is still locked in the expanding area of formation, where the price makes new highs and new motherboards with no clear direction, but still has a valid sword trend line indicates that the bearish scenario in the long term remains valid. Has immediate support of 1.0580 followed by 1.0527. Immediate resistance is 1.0650 followed by 1.0750. CCI has just crossed the border over -100, suggesting a potential slight upward pressure.

* The views expressed in this material does not constitute advice or recommendations to buy or sell. Forecasts cover the expectations expressed by the author of the material and may not be true.

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FC Populyarnakasa 95 ‘AD

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