Hello everyone, welcome all subscribers.
Please share personal opinions in the comments. Booster and subscription requests are appreciated.
With key indicators missing in the UK for this and next week, major indicators from the US and Europe are set to be announced consecutively. In particular, today's release of the US PCE Price Index is expected to have a significant impact on the market, as it is considered one of the most important indicators alongside CPI by the Federal Reserve.
- On February 29th, the US January PCE Price Index and Germany's February CPI will be released.
- On March 1st, Eurozone's February CPI will be announced.
- On March 7th, the Eurozone interest rate decision will be announced.
The GBPUSD chart is showing an upward trend. It has formed a base support line at the lows, indicating an upward trend is underway. It has smoothly surpassed the trend resistance from the base, increasing its upward momentum, but encountering resistance at the 1.28000 line, it is currently in consolidation. It is expected to resume its upward momentum towards the upper trend line once new catalysts emerge. However, the PCE Price Index released today could act as a variable, potentially leading to a retest of the lows and necessitating a market response.
Possible movements to anticipate currently are:
First, a long-term rise from confirming the lows at the base trend line to the upper trend line.
Second, a short-term rise from the current trend with increased upward momentum to the upper trend line.
Third, a medium to long-term rise to the upper trend line following a short-term decline from resistance at the upper trend line, followed by a rebound.
These three movements appear to be the most likely at present. However, if there are any variables, the strategy will be adjusted accordingly.
Please share personal opinions in the comments. Booster and subscription requests are appreciated.
With key indicators missing in the UK for this and next week, major indicators from the US and Europe are set to be announced consecutively. In particular, today's release of the US PCE Price Index is expected to have a significant impact on the market, as it is considered one of the most important indicators alongside CPI by the Federal Reserve.
- On February 29th, the US January PCE Price Index and Germany's February CPI will be released.
- On March 1st, Eurozone's February CPI will be announced.
- On March 7th, the Eurozone interest rate decision will be announced.
The GBPUSD chart is showing an upward trend. It has formed a base support line at the lows, indicating an upward trend is underway. It has smoothly surpassed the trend resistance from the base, increasing its upward momentum, but encountering resistance at the 1.28000 line, it is currently in consolidation. It is expected to resume its upward momentum towards the upper trend line once new catalysts emerge. However, the PCE Price Index released today could act as a variable, potentially leading to a retest of the lows and necessitating a market response.
Possible movements to anticipate currently are:
First, a long-term rise from confirming the lows at the base trend line to the upper trend line.
Second, a short-term rise from the current trend with increased upward momentum to the upper trend line.
Third, a medium to long-term rise to the upper trend line following a short-term decline from resistance at the upper trend line, followed by a rebound.
These three movements appear to be the most likely at present. However, if there are any variables, the strategy will be adjusted accordingly.