Ahead of ECB rate decision markets are quiet

We have the ECB meeting this week and the eyes are on mr.Draghi. He said recently that ECB is ready to act in March. What means this si still not clear and the market is in a consolidation mode for the last two weeks. I expect it to remain in this state until Wednesday too. For no the price is locked between 1.0970 and 1.1050. Of course breaking of either is possible before ECB meeting, but the final direction will be determined after the decision is released. Any further cut of the ECB stimulus program is going to boost the upside and we are going to attack monthly Senkou Span A price at 1.1190 and the main resistance line at 1.1540, while any increase of the stimulus will encourege bears who will push the EUR to 1.0590 and below for the rest of the month. What exactly will happen we shall see.
GOLD continues to gain price as expected in my last week's forecast. Seems the 'flag' formation has done its job. We have resistances at 1310 and 1335, and i do not expect the second one to be broken this month. But please note we have some possibility to reach it. First support is 1238 then 1224. Below the second further drop is possible so quit longs.
NZD upside continues but seems not steady enough, however above 0.6760 we are bullish. Any daily close below 0.6750 will put the pair into a correction lower state, so follow closely the price movement and place SL. This week we shall have the rate decision here too, change is not expected, but who knows???
AUD had a powerful last week, but currently the price is facing the weekly Senkou Span A price at 0.7490. Main support is at 0.7250, below this one further downside is expected. We have an intermediate support at 0.7330.
JPY for now consolidates above 113.00, we have first resistance at 115.00 and the second stronger at 116.30 which i don't expect to be broken soon. Use any upside to open fresh Short positions. The outlook is bearish below 115.50.
GBP shows good volatility and gained last week from 1.3800 to 1.4200. Please note that we are still below the 1.4340 resistance and as long as we are below it the outlook is bearish. Only a daily close above 1.4450 could change the bearish outlook. If the price closes below 1.4040 sell again.
RUB performs good against the dollar, and keeps the pair's price close to 71.00 however it still cannot break it lower. Once this happens the price will continue to 68.40 whis is the next support. Above 75.00 some upside is possible and above 78.50 the upside will be fully restored.

http://www.fxstreet.com/analysis/todays-forex-forecast/2016/03/07/

EUR consolidates ahead ECB meeting in march

FOREX FORECAST 29.02.2016-04.03.2016
EUR is under pressure ahead the ECB meeting in march. The market is waiting for the ECB decision as mr.Draghi has said ECB is ready to act in march. So i expect some more sideways consolidation tduring whole this week and the beginning of the next too. The upside is limited by 1.1000 and 1.1050, while downside is supported by 1.0870 and 1.0800. Any drop below 1.0800 will cause another 200 pips drop or even more.
GOLD performs well because of the market's fear becaise of the ECB future decision. We have a clear 'flag' formation on Daily which suggests more upside is coming. For now 1215 serves as support level. Upside is limited by 1240-1250. Daily support is 1204 and reversal point is 1180.
NZD starts the week with some downside gap. The price is supported by Senkou Span B price at 0.6615 but we are currently below and this now serves as resistance. Further supports are 0.6580 and 0.6540. If we break them i think it won't last for long.
AUD uses 0.7100 support which is the Senkou Span B price too to get some more to the upside, but is facing two resistance levels at 0.7140 and 0.7160. Only a Daily close above the second cound be a signal for more upside in future.
JPY has lost again support at 113.20 and is currently heavy bearish. Indicators currently show more downside is comming. Targets are set again at 112 and 111. Upside is limited by 114.10 and i do not expect for it to be broken or even reached.
GBP has made a huge drop last week and this week it will look for support inside the support area of 1.3700-1.3900. Will the UK leave EU - well i think not, but rumors about possible leaving continue to destroy the pair's price.
RUB is trying to break the positive Daily cloud to the downside, however it not seems to give up so easy. Support is at 74.00 and resistance is 76.80. I think this week we shall continue to move in this range. But any close outside of it will start a new wave in same direction.

http://www.fxstreet.com/analysis/todays-forex-forecast/2016/02/29/

EUR recovers a bit but the outlook is still bearish

FOREX forecast 25.01-29.01.2016EUR has started the week with small recovery from Friday's drop, however the future expectetions are for more downside as the ECB is ready to act again in March. If ECB anounces more stimilus i expect the EUR to drop below 1.000 and the process to continue through the rest of the year, reaching 0.96-0.94 area. Daily EUR chart is mixed with some upside potential recovery, but the H4 is definitely bearish and the first resistance is 1.0830, followed by 1.0860 and reversal is possible only above 1.0910. You may sell at first two resistances with no more than 15 pips SL or sell below 1.0800.

GOLD uses 1094.00  as support inside Daily negative Ichimoku and as we are above that support we may attack 1114.00 level which is the next important resistance. Supports are at 1087 and 1076, further drop is unlikely for now, as break above 1135 is also unlikely.

NZD is still trying to stay above 0.6490 as it is inside a H4 negative Ichimoku cloud. For now the Senkou Span B price acts as price limiter at 0.6530. Even if the price level is broken it won't be for long and the price will return back to 0.6500. this process seem to continue for the next 2-3 days.

AUD is in a recovery mode, for now the area 0.7060-0.7080 blocks further upside but once above we shall target 0.7140-50. Fail at either of these two resistance areas will trigger a fresh downside wave.

JPY lost some positions last Friday when some players prefer to take profit. This put the pait into a recovery mode above 118.40. However the recovery is limited by 119.00 and 119.70 resistances. And while the first one seems easy to break i am sure that the second one will not give up so easy. You may sell at the second one in case the first is broken. Support is 117.70.

GBP produced a long legs candle on Weekly, which means the market is confused what to do next. In this situation it is more likely some bears to tae part of their profit which will bring the price to 1.4490-1.4500 again. Further recovery is less possible because then these same bearsh will sell again. But for now i expect some more recovery.

RUB returns some lost positions due to massive profit taking since 86.00 has been reached. The price then dropped almost 10 USD to 76.00. Below 79.00 more profit taking is possible, but once above 80.70 upside will be restarted. Sideways trade is possible between 78.90 and 80.10.

From: http://www.fxstreet.com/analysis/todays-forex-forecast/2016/01/25/

Happy and profitable year 2016

Wish you all a highly profitable Happy New Year 2016!!!I will start with some quick overview of this year's FOREX future outlook. FED has already started rising the interest rate and this process will continue through this year and the expectations are for it to reach around 1.35% by the end of this year. It is also expected USD to gain strength against all major currencies except GBP. The biggest loosers are expected to be AUD and NZD. However i must say that these are not my expectetions, but these are mostly rumors. In fact the real picture for the EUR will be more bearish than bullish this year. Parity with dollar is closer than ever and will become reality in a few months. I expect the EUR to drop below 1.00 this year too. For now i can figure out 0.96 as a potential target.Let's take now a look over the charts:EUR will look for support at 1.0820, first resistance comes at 1.0880, then 1.0920, and the bearish outlook will be reversed obly above 1.0945. On the other side a drop below 1.0800 will start a fresh downside move to 1.0690 and 1.0590. Then the pair will look for support around 1.0540 which was the last month's bottom.GOLD will continue to loose price however some quick jumps to 1072 are possible. Gold is into a downside trend which can be seen on Weekly and Monthly. Daily chart shows some consolidation to bearish move. Support area is 1050. For now every jump will be used to open short positions at a better price. Jumps over 1085 are not expected for now as my indicators keep telling me.NZD bounced back from the 0.6880 resistance but still doesn't give up with the idea to reach and attack the main resistance at 0.6950. If we have a clear break there the move will continue to 0.71. NZD will rely on two main supports, the first one is 0.6780 and the second one is 0.6760. if the second one is broken then a 100 pips drop will follow and maybe more.AUD price is locked in a 100 pips range between 0.7240 and 0.7340. It is not clear enough what direction will develop so you'd better stay away until one of the above is broken.JPY met some problems at 123.00-124.00 area, and unhappyly returned back to 120.00 support. Once below 120.00 the pair will target 118.50 support.GBP has finished last month of 2015 with a signficant slide, we had a big slide in november 2015 too. There is a support at 1.4650 which may stop the continuous slide. On all time frames the pair is extremely bearish and more slide is expected soon.RUB has a high volatility during the last day of 2015. The pair remains bullish above 70.00. Once above 73.50 you may enter LONG for 75.00 and above. Below 69.50 the pair will look for support at 67.50, but this is the less possible scenario for now.
Good luck!!!

http://www.fxstreet.com/analysis/todays-forex-forecast/2016/01/03/

EUR is trying to recover this week after Greek elections

Last Friday EUR has dropped from 1.1460 to 1.1280 ahead of elections in Greece. Today EUR has started the week with recovery and the first resistance coming is 1.1330, the second one is 1.1365. Only above the second we shall attack last Friday's top. Later today we have the Deutsche Bundesbank monthly statement which is not expected to cause any serious volatility. Eurozone's consumer confidence is the most important news on Tuesday.  On Wednesday some PMI data and mr.Draghi speeks. For the last two days of the week i expect some dollar domination, and downside move for the EUR.

GOLD has started recovery and it was doing pretty well before reaching the Daily Senkou Span B price of the negative cloud. However after some hesitation here i expect the upside to continue, but drops to 1120 support are still possible. Please note that below 1120 bullish recovery is in danger and below 1112 it will be completely destroyed.

NZD has tested again 0.6240 support and for now it seems good enough to form a solid bottom and to start the process of recovery after the long slide down from 0.7740. You may try long from 0.6330 and short from 0.6500 as the pair has entered in a consolidation mode.

AUD has made two unsuccessful attempts to break the 0.7260-0.7280 resistance area so now it is quite possibe the pair to test the 0.7110 support before any new upside attempt. The possibility of breaking the support is also not too small, so be very careful. Above 0.7220 on H4 you may try small long, but place stop.

JPY has started a fresh process of recovery against the dollar, however today is a non working day in Japan and i expect of Tuesday the recovery of the JPY to continue to the fisrt support at 118.80. First resistance is 120.20 then 120.80. Only above 121.00 bearish outlook may be destroyed.

GBP/USD is making its way hard into the Weekly huge Ichimoku cloud and it won't escape drops to 1.5200 in the weeks ahead,maybe in October or November. The pair now desperately is trying to stay above 1.5500,because breaking below will mean start of the downside wave. We are in a sideways trade mode right now in the range 1.5455-1.5565

GBP/JPY The pair is now locked inside the 186.00-186.30 area. You have to allow it to escape this and then enter depending on which side this area has been broken. Next resistance is at 186.70, and below 186.00 next support is 185.70, below which more downside is expected.

RUB is currently targeting 64.10 support but i expect it to stop the downside move and to reverse to the upside. It is not impossible to test the second support at 62.00 but this will be short lived and the pair is going to make a quick recovery to the upside back to 64.50. i am expecting to end this week around and above 67.00

http://www.fxstreet.com/analysis/todays-forex-forecast/2015/09/21/

What will FOMC do this week?

EUR is slowly climbing up. Daily price is above SMA200 and as long as we are above 1.1270 everything seems bullish. We have several support levels below and the first one is 1.1250 then 1.1215 and finally 1.1160. Once above 1.1330 upside is going to continue until the next resistance at 1.1380 and then 1.1440. I think EUR is quite much possible to turn to downside again than going up because this week's ZEW index is expected to be worse than previous. And the most important news this week is FOMC meeting and will they raise the interest rate to 0.5. If they do, then it may cause another EUR drop below 1.1000 and even below 1.09, so be very careful and place stops.

GOLD as expected continued to move along the Daily Senkou Span A price and even dropped a little below it. To restore the upside here we need a Daily break above 1120 and we have a resistance right above at 1128 followed by 1140 and from there we have a long way to 1184. To the downside support is at 1097 then 1074 and finally 1052.

NZD is still unable to find solid ground and still no signs of correction move. The pair is in a downtrend for a long time and correction is possible only above 0.6420. Below 0.6300 another drop will follow.

AUD has started recovery and for now it is doing well. The pair is supported by 0.7110 and above this we are bullish, resistance comes at 0.7175 and then at 0.7210. There is a solid support area between 0.7050 and 0.7065, which for now prevents any significant downside attempts.

JPY consolidated now in smaller range after the huge drop two weeks ago. Now we are close to 120.00 level, some of the bulls still cannot accept that the upside is over, because is may be not. Daily outlook is still negative but not everything is lost shows Weekly chart. Another upside wave may start above 121.20 but below 119.50 downside will develop quick.

GBP/USD succeeded to stay above 1.5350 which for now prevents the pair from sudden price loss. We have good support area from 1.5320 to 1.5350. But once below downside will continue to 1.5120 and maybe below. Upside is more likely to be restored above 1.5540 which is the next resistance.

GBP/JPY here H4 indicators are bullish above 184.70, but the pair is still in a small downside correction which may continue for another day. Main support is at 184.20 and below that we may test 183.00. Above 186.00 upside will target 186.90 and 187.40.

RUB is in a consolidation between 68.40 and 66.00. I do not expect to break either of these two until FOMC on Thursday, so consolidation here will continue in the same range for the next two days.

http://www.fxstreet.com/analysis/todays-forex-forecast/2015/09/15/

Summer consolidation continues

EUR continues summer season consolidation, economic data does not move the pair significantly in either direction. Seems all are waiting for 20th august when Greece is due to pay another amount of money. Until that at least we shall consolidate is the range between 1.0860 and 1.1100. Currently the attempt to break 1.1030 has failed and the price returned back to the support 1.0940-60. If the price breaks below this area we may expect another 80-100 pips down. However i expect that the price will stay above 1.0900 for this week and will try to get back above 1.1000 again.

GOLD is using recently formed support at 1091 to get above 1100 again but for now without any success. H4 and H1 indicators are quite mixed and don't give any clear indication of possible direction but the metal seems to do more bullish than bearish moves at the moment. So it is quite possible to stay above 1100 for the days ahead. Upside target is 1123 and support is at 1091.

NZD still not able to escape the 0.6630-40 cap, and if it will the will face another resistance at 0.6675, the final resistance is 0.6750 but it is pretty far for the low volatility season. Support levels are 0.6530-0.6500-0.6480. Below 0.6570 the pair is bearish.

AUD marks a huge 130 pips drop this morning as it has reached the 0.7435 H4 SMA200 resistance. The pair is bearisg below 0.7345. Upside move will be restored only above 0.7400. Main support for this week is 0.7250.

JPY continues slowly upside move as the price is now above 124.60 the process is going to continue. H4 and Daily indicators are bullish too. First target is 125.00 and then 126.00.

GBP moves inside the Daily positive Ichimoku cloud and is likely to continue this for the rest of the week despite the cloud ends soon. Support is at 1.5500 and resistance is aroud 1.5580. Weekly resistance is at 1.5670 and for now is too far. Volatility is low and i do not expect any direction to be formed this week. Prepare for another sideways trade in the following days.

RUB has dropped to almost 65.00 against the dollar but since yesterday's open it gaind back some of the lost positions. However above 61.30 the pair remains bullish. Be careful because some drops to 61.50 are possible and below it we may see a downside correction move to 59.60 and below. Once above 64.00 the upside will be restored.

http://www.fxstreet.com/analysis/todays-forex-forecast/2015/08/11/

Consolidation across the market continues for another week

Low volatility summer period continues across the market, however is seem some currencies are trying to determine direction for this month. Last week H4 SMA200 has stopped the EUR recovery at the resistance area 1.1080-1.1100 and now the price has returned back to the support area 1.0960-1.0990. EUR for now continues consolidation with some bullish bias, and the bullish power will increase above 1.1020. however below 1.0950 the pair easily may drop to 1.0850 and 1.0800, so the current situation is pretty much unstable. I expect this wek to continue consolidation within the range 1.0950-1.1100

GOLD has recovered on Friday and closed near to 1100, but this is still not enough to reverse the bearish trend. To start a process of recovery and to confirm a fresh support area has benn created we need a Daily close above 1110. If this happens the next target will be the area between 1122 and 1132. Below 1090 the price may drop again to 1075-1080 in search of another support.

NZD opened today with a downside move and the price is again below 0.6600. This puts indicators again at bearish territory. First resistance is 0.6600, then 0.6640 and finally 0.6690. Below 0.6600 we are consolidating but drops to 0.6500 are quite possible.

AUD is now bearish, we had a sidaways move on Friday which produced no change of the future outlook. The pair remains bearish on almost all frames. We need to break above 0.7370 to start any recovery attempt. As long as the price is below 0.7330 we are bearish.

JPY is consolidating around 124.00 and for now is preserving all chances of future upside test of 126.00, but with the summer holidays noone seems interested in buying or selling the pair. Current support is 123.50 and resistance is 124.10. Weekly support is 123.30 and resistance is 124.80

GBP moves together with the Daily Senkou Span A price with the recently built support at 1.5560 upside recovery for now seems stable. However the 1.5710 reistance seems unbreakable for now. This week we shall have the BoE rate decision and some more economic data so these will move the pair and another fail at 1.5710 will reverse the move to the downside with possible targets 1.5550-1.5480-1.5440 and 1.5390.

RUB is doomed again with the Weekly and Monthly close above 61.00. The pair is bullish above 60.60 on all timeframes so i expect above this price the upside to continue. Main support is at 59.00 but we are far away from it right now, and bulls have nothing to worry about. Upside target is at 62.00.

http://www.fxstreet.com/analysis/todays-forex-forecast/2015/08/03/

Some consolidation ahead of FOMC this week

EUR slowly recovers and makes its way through 1.1000. First resistance comes at 1.1020 as this is the H4 Senkou Span B price and breaing of it will escape from the negative H4 cloud which can be a good start ot the future recovery above 1.1100, which is the next resistance. The price is now supported by 1.0910. EUR has some upside potential but is possible to have some choppy trade and on Thursday and Friday to test 1.1100 and above. Volatility is very low bacause of the summer season and most traders will wait for the 20th of august when Greece is due to pay a huge amount of money. So it is quite possible to continue the consolidation to bullish mode until then.

GOLD seems has bulit some support above 1090, but Daily and Weekly indicators are heavy bearish. First resistance is 1104 and first support is at 1090. Around 1116 we shall face strong resistance of the H4 negative cloud, and any further recovery is possible only on a Daily close above 1130 which is pretty far from the current levels. I expect some range trade for this week between 1116 and 1090. any break below the support may cause another 20 USD slide for example.

NZD still is not able to close the day above 0.6625, this will be the signal for a recovery which is much needed at the moment however slide continues and the current support is 0.6500. Any break below 0.6560 will target 0.6500 and below once ahain.

AUD dropped again on Friday to 0.7260, the process here is quite similar to NZD. Below 0.7310 we are bearish on H4. H1 shows some recovery signs but the price is capped by 0.73-0.7310 resistance area and breaking above is needed to start any recovery. Any drop below 0.7280 will target 0.7250 first.

JPY has stopped the dollar progress at least for now. JPY is in a recovery mode pushing the price to the downside below 123.80. As long as we are below this we are bearish and the first target is 123.20 then 122.80 and finally 121.40. Below the last downside will gain more fresh power. Upside will be restored on a Daily close above 124.00.

GBP consolidates as the price was not able to stay above 1.5600 for a long time. first resistance is at 1.5560 and is followed by 1.5610. Only on a Daily close above the last the upside may continue, but seems summer is a lazy season and noone wants to risk at this low volatility market. Support is at 1.5410  and this may be tested before any new upside wave.

RUB continues to loose price slowly. We are bullish above 56.75, but quick drops to 56.30 are possibe in order to create some volatility. Drops to 55.60 won't destroy the bullish outlook this week.

http://www.fxstreet.com/analysis/todays-forex-forecast/2015/07/27/

Deadline after deadline, still no decision...

Again EU leaders meet to decide what to do with Greece, it is quite possible Greece to stay in the eurozone but some restrictions and severe monitoring to be applied over government actions. Greek's prime minister promised the world that will do many things but noone believes him, me too. So i expect that by the end of this year we shall encounter the same situation with endless Eu leaders' meetings and no decision for weeks. EUR is locked into a 200 pips consolidation range, and if agreement is reached it may jump to 1.1500 and then it will drop again. If Greece is kicked out this will mean EUR drop below 1.00, noone at ECB wants this so i am sure Greece will stay, but some additional requirements will be applied. Some better than previous data is expected over the Atlantic on Thursday. That same day we shall have ECB rate decision and mr.Draghi speech which i expect to move the market strong. It is possibe EUR to move in either direction so stay out of the market until any final decision for Greece is taken, otherwise you may loose all your money in market sharp moves.

GOLD seems not stable enough and even has tested 1147 last week. Daily indicators are bearish and recovery is possible only on Daily close above 1168. H4 indcators are also bearish so i expect this slide to continue some more this week. We have support at 1148 and 1141. First resistance is 1168 then 1188 and 1202.

NZD bounced off 0.6620 level and is currently at the resistance area 0.6730-0.6750. breaking above it on Daily will signal for upside continuation. If the attempt fails and the price drops below 0.6700 it may test 0.6620 again and even lower.

AUD still has no luck with the recovery, the price is not able to break the 0.7500 resistance and currently we are again below this level. Weekly and Daily indicators are bearish, H4 are also bearish but show some signs of possible recovery. For now we are in consolidation to bearish mode and will stay in this state until we have a Daily close above 0.7500.

JPY has attacked the dollar last week but all it has done is a quick test of the 120.40 support and a sharp recovery of the dollar then. Now we are back inside the positive Daily Ichimoku  and once above 123.30 the upside will be fully restored and the way to 125.00 will be opened again.

GBP's upside is blocked by the very strong resistance area 1.5550-1.5570 and the price will stay locked inside 1.5430-1.5570 until any of these is broken. Prepare for more sideways trade here. I expect finally moves to develop to the upside, but for now it is still not clear enough. Indicators are giving mixed directions for now as this week we shall have plenty of data from the UK.

RUB is trying to gain back some of the lost positions but there are two very strong support levels and until they are broken both these downside moves may be considered for corrections to buy at better price. First support is at 54.60 and the second one is at 53.30. Resistance is at 57.60.

http://www.fxstreet.com/analysis/todays-forex-forecast/2015/07/13/

FOREX forecast 29.06.2015 - 03.07.2015

EUR dropped once again following the failure to reach any agreement between Greece and European partners. Prepare for another drop tomorrow evening when is the deadline for Greece to pay the money. This week we have plenty of economic data but it all doesn't matter in the current situation. Markets are close to a panic state, and you should be extremely careful. If Greece is kicked out of the eurozone, EUR will drop dramatically to 1.04 and even below 1.0000 and GOLD will be reborn with fresh upside wave, but rumors are saying mrs.Merkel has the final word here, and she has a plan to save Greece. So i continue to think that Greece will stay in the eurozone this time too and will recieve money. For now you'd better stay away from the market and wait for a direction.

GOLD is waiting for the deadline too and in such situations many traders use it as the safety place to hide. We have 1191 and 1205 resistances above which we are bullish. Breaking of these levels will be the signal for buying.

NZD seems to build some support at 0.6820, but all indicators are still negative. If the pair is not able to break above 0.6870 or it drops below 0.6820 downside will continue. Only a Daily colse above 0.6880-90 may start the so needed recovery to the upside.

AUD is still in a consolidation near the support level 0.7550-80. This level has bounced the price several times since March this year and is possible to continue to cap any downside moves in future. However below 0.7700 all indiactors are bearish and show another slide ahead. Above 0.7710 a recovery to the upside is possible.

JPY opened the week with a small gap and is trying to gain control over the pair, but 121.90-122.00 level seems strong enough for now, and as long as we are above, the upside possibilities are intact. Resistance here is at 123.40, the pair will consolidate between these two until any of them is broken.

GBP has successfully closed last week above 1.5600 so it preserved chances of recovery continuation. Main support is still 1.5600 and main resistance is 1.5880. On Weekly the price approaches a huge negative Ichimoku cloud which may destroy the upside and press the price to the downside again this month if breaking of 1.5900 is not ssuccessful.

RUB has almost lost the battle with the dollar inside the Daily negative Ichimoku. We have a solid support at 54.20 and the target is set to 55.60. Any break of 56.20 may restart the dollar rally again. H4 indicators are bullish too. Situation is interesting on Weekly where we are just below the Senkou Span B price. If it is broken next target will be 58.80 and above.

http://www.forexstreet.net/profiles/blogs/forex-forecast-29-06-2015-03-07-2015?xg_source=activity

FXStreet - Economic Calendar - The Week Ahead - Feb 23 2015

The Week Ahead - Feb 23 2015 TUESDAY, FEB 24 DE EUR Gross Domestic Product s.a (QoQ) (Q4) EMU EUR Consumer Price Index - Core (YoY) (Jan) EMU EUR Consumer Price Index (YoY) (Jan) EMU EUR ECB President Draghi's Speech  President Draghi Due to speak at the official unveiling of the 20 Euro banknote organized by the ECB, & during this event we might get  some hints if the ECB is getting prepared for a Greece Exit next month & what to expect on EURUSD chart when the QE project start also next month.  US USD Consumer Confidence (Feb) US USD Fed's Yellen testifies In a time when the US Dollar is resting after pushing the market to new levels during last months, Fed Yellen testify event might give us hints if this US Dollarweakness is just for a short time or if it is a long term correction.  CA CAD BoC Governor Poloz Speech  During this event Gov Poloz might give us some hints regarding what next on  USDCAD chart, if the Boc is not satisfied with the current USDCAD situation  we might get a correction during the next weeks.  WEDNESDAY, FEB 25 EMU EUR ECB President Draghi's Speech   US USD Fed's Yellen testifies Also we have during that day Yellen testify on the Semiannual Monetary Policy Report before the House Financial Services Committee, & we might get hints  regarding if the US economy need a weak US Dollar during the next months.  THURSDAY, FEB 26 DE EUR Unemployment Change (Feb) DE EUR Unemployment Rate s.a. (Feb) EMU EUR Targeted LTRO Market is expecting a green number from Germany where EURUSD might benefit  during this event for a short term in case the number came in green & it might show  a last correction up which might reach 1.16 before Feb end.  CA CAD Consumer Price Index (YoY) (Jan) CA CAD Bank of Canada Consumer Price Index Core (YoY) (Jan) US USD Consumer Price Index (YoY) (Jan) US USD Consumer Price Index Ex Food & Energy (YoY) (Jan) US USD Durable Goods Orders (Jan) Market is expecting green numbers for CPI in US and Canada, in case that happened  then USDCAD might start a correction.  JP JPY National Consumer Price Index (YoY) (Jan) Market is expecting a red number from Japan, in case that happened USDJPY might  push more up toward new resistance levels.  FRIDAY, FEB 27 UK GBP Gross Domestic Product (YoY) (Q4)Preliminar UK GBP Gross Domestic Product (QoQ) (Q4)Preliminar If the GDP from UK showed a rising trend, then GBPUSD might get the push need to  correct more up toward new resistance level. On the other hand in case the number came in red then GBPUSD might fall under psycho level 1.50 US USD Gross Domestic Product Annualized (Q4)Preliminar Market is expecting a red number from US showing a decrease in the economic trend, In case that happened the US Dollar might keep on weakening during that day.  Happy Trading ,

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A Month in FX: The Dollar Starts the Year with a Bang