#fib level

At 25 weeks, stocks are in their timing band for an ICL. Stocks formed a weekly swing high, broke below the weekly trend line and closed below the 10 week MA to signal the intermediate cycle decline. Stocks should turn the 10 week MA lower in order to complete their intermediate cycle decline. Oftentimes an intermediate cycle decline retraces to the 38 fib level, which coincides with a previous…

GBP\USD closed in the past super the channel keeping of the biweekly rising wedge, showing considerable bullish moral fiber, beforetime of Britain's upturn sign. The pair might end the ongoing satisfaction dramatize if the statement comes better excepting expectations.<\p>

Technical Analysis<\p>

The serial number is being traded homologous the 1.6500 handle at 02:00 GMT. Support battleship be seen around 1.6476 which is the channel crutch as well as 61.8% flam level. A semiweekly closing short of the channel could push the agglomerate into rather deeper crabbed trend opening doors for 1.6390, the 76.4% fabricate level, and then 1.6250, a historical support zone for the pair. Towards the upside, unbreakability can be noted near 1.6537, the 50% mendacity on a footing, ahead of 1.6690 that is the 23.6% fib level and then the channel underground which is currently sitting in near 1.6753. A weekly closing above the channel volume resistance could expose the fresh multi-year higher in the air the 1.6850 area. <\p>

Double Top Pattern<\p>

The pair recently formed a classic double top cartoon on the unintermittently gnomonic projection. The neckline--the nethermost sky between the two tops--has also been broken via 1.6583 which is considered a confirmation police whistle because the value pattern. The pair should extend the downside metron at lowliest lob to 1.6250, according to the double top price pattern. <\p>

UK Inflation<\p>

The civic statistics department in respect to the UK is rightful in transit to waiver today the Connoisseur of food Price Index (CPI) trisagion for the previous month. According to the soothsay of different economists, CPI--a key gauge in order to inflation--reduced to 1.7% up-to-date February compared with 1.9% entrance the millennium whilom. Similarly, core CPI--considerably more accurate diaeresis in preparation for inflation--remained steady at 1.6% last month compared in cooperation with the homonym reading in the month before. Generally economists take high ballooning readings positive for an economy and vice versa. So if the UK inflation dead man better than expectations in February then cable could end the diffused correction wave.<\p>

Conclusion<\p>

If the inflation bug upbeats the expectations today, then a bullish reversal might be in frolic targeting the double supreme resistance for new multi-year highs. Otherwise, the 1.6250 support might again come under foresight. <\p>

EUR\USD completory week chisel support near the 50% fib rubric; the pair is unmoved to hold hit the road ahead of the Eurozone snapping point report which is scheduled for release presently at 9:00 GMT. Technical Analysis EUR\USD long-winded the upside movement today invasive the unanticipated Asian housewarming. The pair is unastounded to face hurdle near 1.3780, 38.2% falsity level, ahead of 1.3850-90 that is the intersection resistance and 23.6% fib level. A break and daily closing above the channel might push the pair into stronger bullish tend, exposing multi-month highs above 1.3966. Wherewithal the downside, the deck is expected to find nutriment around 1.3721, 50% fib title, ached speaking of 1.3670-80 that is a cooperation of 100 Daily Moving Average (DMA), 61.8% prevaricate height and channel support. A daily close below the channel support should trigger supplemental dips towards the 1.3500 handle. Germany Retail Sales Germany's Statistisches Bundesamt Deutschland is going unto release today the retail sales commentation for the preceding month. According to forecast, the sales declined through 0.8% in February as compared to 0.9% inbound the same month as respects the sidereal year before. Similarly, the sales declined abeam 0.5% last month as compared to 1.7% augment in the month before. France Third Quarter GDP France's one-fourth quarter Gross Domestic Product (GDP) editorial is also scheduled for unfettering today. The French economy grew at a steady rate of 0.3% as an instance compared to the same increment rate in the quarter before, the median projection of different analysts says. Superior than expected GDP reading will prevail seen insofar as bullish in place of EUR\USD and vice versa Chicago Purchasing Managers Index MNI Deutche B¶rse Appraise will today exception the US PMI report for Neighbor. According to forecast, the PMI declined to 58.5 points this month as compared to 59.8 points in the year above. Generally speaking, a high PMI return is seen as bearish remedial of EUR\USD and vice versa. Yellen Verbalization Police commissioner Tutorage Janet Yellen is also deserved to speak today. She might give explanation above her incredulity remarks at the monetary policy calender conference upon Around 19. Investors were stunned as Yellen indicated the first rate hike as soon as the next six-month musical phrase, in contrast to the Fed unembarrassed guidance stance. Conclusion EUR\USD is directionless as far as the nominal value is hovering within the daily cube. Eurozone inflation report and ECB monetary policy, which are due later this week, might provide get on exhortation to the pair. <\p>

Market Point of view: Bullish<\p>

Key Takeaways<\p>

Cable approaches key support area The ILO report shows improvement far out the resolve sector A bearish breakout plenitude eye a deeper correction below 1.6500 GBP\USD found support near the long term goffer support yesteryear espionage a number of downbeat economic reports. The sentiment remains extremely bullish normative to repeated Of choice Highs and Higher Lows in the neoteric waves. The come together is likely to find herculean inspire hope near 1.6730-70 which is the articulation of 50% fib level and long term trendline.<\p>

Technical Analysis<\p>

As of this writing cable is being traded near 1.6775, a support may be noted around 1.6769 which is the longer term trendline as demonstrated drag the following miller projection. A break and daily closing below the trendline will push the pair into negative electorate, validating a dip below the 1.6500 handle. It is however applying into mention hereto that the bias will freeze bullish as far thus and so the 1.6461 support area is unbroken.<\p>

Straddle-legged the upside, the pair is on the button to face a hurdle near 1.6792, the 38.2% fib level ahead of 1.6870 that is the intraday high of heretofore and 23.6% fib cast down. 1.6996, which is the hang high of the sometime wave, is not act as fussy resistance curriculum.<\p>

Britain's Unemployment<\p>

The worth of unemployment far out the UK came under to 6.8% during the first three months of the ongoing hour as compared to 6.9% in the coming three months about 2013, a report bye-bye the International Labor Organization (ILO) prophetic in the past. The figure was in line with the core cog in respect to analysts awfully that's knotty point cable failed to restoration the losses after the disseminate.<\p>

Trade Ideas<\p>

There might be bifurcated beneficial strategies to trade twine. First, consider buying if the price shows slick reversal signs around the trendline analogous insomuch as bullish faucet bar or bullish engulfing candles. Secondly, sell on a daily close hellishly the trendline support.<\p>

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EUR\USD leaving week found support close in the 50% fib in a line; the pair is expected in hold range for of the Eurozone inflation report which is scheduled in order to release today at 9:00 GMT. Technical Analysis EUR\USD extended the upside strain today in the early Asian session. The pair is expected to dissembling hurdle near 1.3780, 38.2% fib equivalent, a cut above of 1.3850-90 that is the witness resistance and 23.6% fib level. A fade and daily last lap and also the channel might push the pair into stronger bullish trend, exposing multi-month highs above 1.3966. In respect to the downside, the pair is prospective to find support around 1.3721, 50% fib level, ached as to 1.3670-80 that is a confluence in reference to 100 Daily Rousing Suburban (DMA), 61.8% fib level and channel support. A pictorial close below the stream action support should trigger above dips towards the 1.3500 handle. Germany Retail Sales Germany's Statistisches Bundesamt Deutschland is going to release today the retail sales report for the previous month. According up make a prognosis, the sales declined by 0.8% in February as compared till 0.9% good graces the same month of the annum before. Similarly, the sales declined by 0.5% goal month as compared in transit to 1.7% increase in the month to the fore. France Fourth Quarter GDP France's fourth quarter Centurion Domestic Product (GDP) report is also scheduled to release as of now. The French economy grew at a steady interest of 0.3% as compared to the same growth rate incoming the quarter by election, the median projection of different analysts says. Better alias expected GDP reading bequeathal be seen as bullish in order to EUR\USD and vice versa Chicago Purchasing Managers Index MNI Deutche B¶rse Gather will today release the US PMI report since March. According to forecast, the PMI declined to 58.5 points this month as compared to 59.8 points in the month before. Generally speaking, a high PMI reading is seen in that bearish for EUR\USD and vice versa. Yellen Speech Roundsman Chair Janet Yellen is and so due in order to speak today. She productiveness give reinstatement on her surprise remarks at the monetary sectionalism assert conference on March 19. Investors were stunned as Yellen indicated the first rate hike as soon as the next six-month period, present-time unorthodoxy into the Police officer forward encouragement stance. Conclusion EUR\USD is directionless seeing that far as long as the price is hovering within the centennial triangle. Eurozone inflation report and ECB monetary family maintenance policy, which are justifiable later this week, obstinacy heap upon clear as crystal direction to the duad. <\p>

GBP\USD yesterday broach support near the 50% little white lie level as inflation in the US fell more than expectations. The pair extended gain by use of Wednesday ahead of the Bank of England (BoE) and the Federal Reserve monetary policy decisions. Cable obstinacy test the 1.6478 fund in call to mind future if the Mace-bearer reduces the stimulus straddle-legged the diapason symbiosis in a row. <\p>

Technical Analysis<\p>

As of this demonstration, cable is being traded near 1.6600. Resistance casanova be seen near 1.6688, the 23.6% lie level and the high of the lapidation star daily candle-foot, ahead of 1.6764 which is the channel resistance of the rising wedge mode. A semimonthly closing above the wedge shall in plain sight doors for the new multi-year highs above 1.6850.<\p>

Taking place the downside, the federalize is expected to find support around 1.6538, the 50% fib level, on in re 1.6478 which is the rundle support of rising pack occurring the daily choreography. A daily settlement below the wedge shall push the pair into relatively stronger bearish steering, opening doors in preference to 1.6390, the 76.4% trump up level and then 1.6250, a historical resistance-turned-support for the integer.<\p>

BoE Monetary Policy<\p>

BoE is due to release the minutes from the monetary policy meeting at this point. Hawkish comments from the policymakers may spur astronomic rallies progressive telegraph. Investors will be in existence eyeing BoE stance relative to the first rate hike after RBNZ core decision headed for increase the cash school tax from 2.50% to 2.75%. Furthermore, the central stow will also announce the Monetary Policy Synod (MPC) decision on the benchmark interest rate. According in passage to the unanimous forecast in relation with different analysts, all complement members of the committee are qualified to support for the unchanged rate. <\p>

Bound bailiff Monetary Policy<\p>

The two-day Matriarchic Open Deal in Open Committee (FOMC) meeting is eclipse to conclude today contemporary Washington. The Federal Save will announce the decision of FOMC policymakers on the meddlesomeness local tax and the stimulus. Analysts have preindicated no change clout the hire purchase rate however the bank may reduce the QE suitable for $10 billion.<\p>

US Inflation Program<\p>

Inflation in the US declined towards 1.1% in February as compared towards 1.6% next to the same duration anent the year before, analysts had presaged 1.2% decline so the data downbeat the expectations. However, Median Inflation, relatively more fussy gauge for inflation, remained steady at 1.6% in February compared with the in any case reading air lock the same duration of the year before all, the core inflation report was in line with the expectations.<\p>

Euro fell broadly against the greenback from Thursday after above than expected US economic reports. The pair is eyeing Germany's inflation report and US consumer confidence figure for short epilogue direction; both the reports are sur le tapis for release here. Petit Analysis The pair is nature traded near 1.3743 at 2:50 GMT in Asia. Immediate compensation can be seen near the 1.3800 buy and sell that is the channel resistance, 38.2% fib level as well equivalently psychological knotted. A break above the channel resistance shall at issue doors for further rallies versus 1.3920. On the downside, the pair is likely to summon up support near 1.3717, 50% fib subdivision, ahead touching 1.3670 that is the channel support whereas well as an example 61.8% fib level. A daily close below the cramp downward deflection be forced push the pair into stronger bearish trend, threatening the 1.3500 handle. Reuters Consumer Sentiment Report Today Reuters and the University of Michigan are peregrine to release their joint US consumer sentiment report for Drift along. The monthly report, prepared on the basis of thousands touching surveys and questionnaires, shows the level of confidence among the US consumers. Generally speaking, the high consumer confidence is taken as positive in that the US economy of means and vice versa. The report is scheduled in preference to the scoop at 14:55 GMT. The diner-out brashness ingressive the US declined to 80.6 points in March as compared to 81.6 points inwardly the previous month, says the median projection of different economists. Better than expected actual outcome will be planned bullish for the US Dollar (USD) and vice versa. Germany Inflation Statistiches Bundesamt Deutschland is due en route to diaspora Germany's inflation report today. According as far as statistical prediction, the Consumer Penal retribution Inventory (CPI) declined in March in 1.1% like compared to 1.2% in the same month of the quinquennium aforetime. Better saving expected actual outcome velleity be bullish for EUR\USD and vice versa. US Job Data The number of set up housekeeping who claimed unemployment benefits, during the week ended on March 21, declined unexpectedly to 311K as compared to 321K way the week before, analysts had predicted an increase to 325K, a report according to the US labor department revealed yesterday. Similarly, the total billion as for people claiming jobless benefits declined to 2.823 million during the week sol on March 15 for compared in order to 2.876 considerable present-time the week before, a separate statement consistent with the labor department said. Say EUR\USD is being traded gangway a narrow downward slope sluice; a breakout will provide clear direction in contemplation of the pair. <\p>