Fed is set to leave interest rates unchanged, GBPUSD sees a buying opportunity!

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German Unemployment Change ( EURUSD: Bullish But Hesitates Ahead OF 1.0950 levels)…

Germany will report on its Unemployment Change today at 07:55 GMT. Analysts expect a rise to -12 K, from -30 K, a month earlier.

Well, EURUSD still trapped withing 1.0850/1.0950 levels, minor support comes at the 1.0902 levels, while resistance remains around 1.0950 levels, so …in a case of a pullback to 1.0902 levels, this could be a buying opportunity, but if it jumps to 1.0950 levels, it’s unlikely to break higher, the German data is not strong enough to push higher so this could be a selling opportunity with caution…anyway; above 1.0950 will open 1.1000 levels ahead 1.1050 levels, below 1.0902 will turn the focus back on the 1.0850 levels…

U.K Construction PMI (Buy GBPUSD around 1.2905/1.2880 Levels)!

U.K will release data on Construction PMI today at 08:30 GMT.

Analysts expect a rise to 52.00 reversing from 52.2 a month earlier…

Anyway, U.K data could bring a buying opportunity around 1.2905/1.2880 levels, resistance remains on the 1.2945 levels. Above that level will open the psycho level 1.3000. On the downside below 1.2880 will turn the focus back to the 1.2770 levels…

Fed Interest Rate Decision (FOMC)!

The U.S Federal Reserve is expected to is expected to keep interest rates unchanged 1.00% at its meeting today at 18:00 GMT as it pauses to parse more economic data but may hint it is on track for an increase in June.

Note that Fed Chair Janet Yellen is not due to hold a press conference today??!!!

Anyway; since the Fed is expected to raise rates next June, so a hawkish tone could be noticed today, it depends on the statement that the Fed will release…

Earlier in the day, the US will release data on ADP Nonfarm Employment Change at 12:15 GMT as well as on ISM Non-Manufacturing PMI at 14:00.

With eyes on Fed meeting today, don’t expect a strong move before that time…

 

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HAITHAM653

I’ve been in the fx market since 2007, In this website, I’m gonna share with you the knowledge and the experience that I obtained through the years, I analyze the markets from technical and fundamental perspectives. I cover, short/medium to longer term forecasts, that fits all kind of traders from beginners to professionals, my primary mission is to get the real pulse of the market to our readers.

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