GBP/USD daily forecast:

The currency pair remains in downtrend position. We can assume that the possible target is located at about 1.5920-1.5910. If the PPI Input m/m data is positive for the GBP, we may see some momentum movement in favor of the British currency. The data is released today at 9:30am GMT.

EUR/USD daily forecast:

Current price 1.4328. The currency pair remains in downtrend position according to the technical indicators. It looks like if EUR/USD breaks below 1.4250 we may see another fall towards 1.4150-1.4160

Non-Farm Employment Change will be released today:

Job creation is an important leading indicator of consumer spending. The forecast is -3K. The data will be released today at 1:30pm GMT. 

Halifax HPI m/m data to be released today:

The Halifax HPI m/m will be released today at 9am GMT. Despite the fact that news look positive for the British currency, at the present time according to the market situation we may see another short fall of the GBP towards 1.5930-1.5900

EUR/USD support and resistance levels:

These are the hourly support and resistance levels:

Hourly      S 1.4315    S 1.4333    S 1.4355    P 1.4370    R 1.4380    R 1.4400    R 1.4420

German Retail Sales m/m data negative for EUR:

The German Retail Sales m/m data was just released minutes ago. The forecast was expected to be 0.4%.
However, the actual result is -1.1% which I assume is going to affect the European currency in a negative direction for a while towards 1.4340-1.4330.

EUR/USD daily forecast:

The pair looks like it remains in downtrend position at the present time. Current price 1.4364. I expect another fall towards the zone of 1.4300-1.4290 after consolidation.

USD/CHF daily outlook:

Current price 1.0357. The currency pair remains in downtrend position and another fall towards levels of 1.0250-1.0260 mat be seen later on today.

ADP Non-Farm Employment Change to be reelased today:

Job creation is an important leading indicator of consumer spending, which accounts for a majority of overall economic activity. The forecast is -74K. It seems that the job losses may have decreased in December. The data will be released today at 1:15pm GMT.

EUR/USD daily outlook:

Current price of the pair 1.4331 and it looks like EUR/USD is in downtrend position. If the currency pair breaks above the price of 1.4400 another rise towards 1.4500 may be reached in a couple of days. On the other hand the pair could go down to about 1.4250-1.4300 later on today.

USD/JPY daily outlook:

Current price 91.74 and it seems that the currency pair is in uptrend position. If the pair keeps levels of 91.80-91.90 we may see another rise up to about 92.50-92.70 later on today. On the other hand if the pair breaks below 91.30-91.10 next target will be 89.50-89.60

Pending Home Sales m/m to be released today:

It's a leading indicator of economic health because the sale of a home triggers a wide-reaching ripple effect. It will be published today at 3pm GMT. The forecast this time is -2.3% which if it comes true could be negative for the American currency. I assume that we may even see another rise of EUR/USD up to levels of about 1.4550-1.4560 later on today. Current price 1.4478

EUR/USD before the Asian session:

Current price of the pair 1.4422 which is the pivot point at the present time. The Asian session is opening in about 30 minutes and we may see some downtrend movement and will probably test another fall to 1.4350.

GBP/USD daily outlook:

The combination of candlesticks has formed “evening star” on daily chart which is the signal to downward movement. Current price of the pair 1.6077. The Manufactoring PMI today at 9:30 GMT. It is expected to go up to 52.1 points this time which will indicates industry expansion and it may be positive for the British currency.

EUR/USD daily outlook:

Current price of the pair 1.4287 and it looks like it remains in downtrend position. If we reach levels of about 1.4400-1.4420 a rise towards 1.4800 could be possible.

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