Market outlook after positive US Pending Home Sales (Feb)!

forex inflation min
forex inflation min

The US pending home sales has jumped to 3.1% , above expectations 0.4% . This development supports the US dollar today , but this support is variable from one currency to another , let’s see how US news affected currency market :

EURUSD : The pair is in a corrective pullback mode , Us data should be taken as an opportunity to buy the pair on dips , main support at the 1.0766 levels .

GBPUSD : The pair remains under pressure , support comes at the 1.4721/1.4687 levels , while resistance remains at the 1.5009 levels.

USDJPY : The pair makes a huge move today , printed support at the 118.32 levels , as long as this level holds , further upside is likely , resistance comes at the 120.16 levels where a break will open 120.90 /122.00 levels..

USD-INDEX : The pair remains neutral trapped within 94.78/100.00 levels , in short term view remains on the upside as long as 97.45 holds on a 4 hour closing basis , below this levels will open 94.78 levels…

 

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