Flat U.S Retail Sales In Jan, Sideways Market

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Forex-986565

The U.S Retail Sales rose by 0.2%, from 0.3% a month earlier. Meeting a forecast of 0.3%. Core Retail Sales fell by 0.3%, from 0.6% in the preceding month. Meeting a forecast of 0.3%. This development is likely to bring a sideways market. The U.S.D may halt the upside move. Anyway, let’s take a quick look at the market:

EURUSD: A rebound from 1.0825 is very likely, resistance comes at 1.0865 level. Expected range 1.0825/1.0860…

Support: 1.0825, 1.0785, 1.0755, 1.0720, 1.0685

Resistance: 1.0860, 1.0890, 1.0930, 1.0963, 1.1015

GBPUSD: The pair sees consolidation around/ below 1.3068 levels. Expected range 1.2970/1.3090…

Support: 1.2970, 1.2910, 1.2840, 1.2790

Resistance: 1.3090, 1.3150, 1.3210, 1.3275

USDJPY: Corrective pullback remains intact as we suggested in our daily forecast. Expected range 110.08/109.60.

Support: 109.60, 109.25, 108.65, 108.27

Resistance: 110.08, 110.30, 110.80, 111.40

MARKET DATA

UPCOMING ECONOMIC EVENTS

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