US Fed Chair Yellen Testifies at 15:00 – volatility is expected..
New Home Sales (Jan) at 15:00
Outlook in US New Home Sales remains on the upside as long as 431K support holds , anyway , we have 4 scenarios :
1- A reading above 481K will bring strong bullish move for the US dollar..
2- A reading within 466K : 481K range , will bring a small decline before the next rise for the US dollar …
3- A reading within 431K: 466K , will bring deeper pullback before the next rise ….
4- A reading below 431K , will bring sudden fall followed by a consolidation ………
ECB President Draghi Speaks at 16:30 – Volatility is expected
As head of the ECB, which controls short term interest rates, he has more influence over the EUR value than any other person. His comments may determine a short-term positive or negative trend.
New Zealand Trade Balance (MoM) (Jan) at 21:45
Outlook in New Zealand Trade Balance (MoM) remain on the downside as long as 286 M resistance holds . At this point we have 3 scenarios :
1- A reading above -159 M will bring light bullish move for the NZD..
2- A reading within -159 M : -472 M , will bring light bearish move for the NZD..
3- A reading below -472 M , will bring strong bearish move for the NZD…
* All times are GMT
