The Forex Trading Week Preview

I will provide previews and reviews of these data releases in the daily summary tomorrow.


In the States; ongoing recession fears surround the sentiment on the US in the coming week. Key data releases will surround CPI, FOMC minutes, and housing data on Wednesday.

In the Eurozone; much focus placed on Friday’s PMI manufacturing and services data for further indication of the health of the economy and relative interest rate movements. In the UK; the BoE will release its minutes this week on Wednesday, key to further interest rate movements.

In Japan; BoJ minutes on Wednesday, Thursday Trade Balance, and Governor Fukui speaking on Friday will be key Japanese data this week.

In Australia; RBA minutes on Tuesday is the only key piece of data out this week.


Euro – 1.4650
Initial support at 1.4549 (Feb 14 low) followed by 1.4496 (Feb 12 low). Initial resistance is now located at 1.4709 (Feb 15 low) followed by 1.4759 (61.8% retracement of the 1.4956 to 1.4440 decline).

Yen – 108.20
Initial support is located at 107.27 (Feb 15 low) followed by 106.35 (Feb 11 low). Initial resistance is now at 108.67 (38.2% retracement of the 114.66 to 104.97 decline) followed by 109.82 (50% retracement of the 114.66 to 104.97 decline)

Pound – 1.9510
Initial support at 1.9444 (Feb 12 low) followed by 1.9389 (Feb 7 low). Initial resistance is now at 1.9738 (Feb 14 high) followed by 1.9763 (Feb 5 high)

Australian Dollar – 0.9165
Initial support a 0.9005 (Feb 15 low) followed by 0.8954 (Feb 14 low). Initial resistance is now at 0.9191 (76.4% retracement of 0.9400 to 0.8513) followed by 0.9321 (Nov 9 high)

Gold – 906.40
Initial support at 896.50 (Feb 13 low) followed by 885.0 (Feb 7 low). Initial resistance is now at 927.31 (Feb 11 high) followed by 936.80 (Feb 1 trend high)