What is to be expected for the Week ahead from 25th Feb- 1st Mar?

What is to be expected for the Week ahead from 25th Feb- 1st Mar?

Economic Calendar: US Fed Chairman Testifies on Tue and Wed, UK GDP, US Durable Goods Orders on Wed, GER
Unemployment , EU & GER CPI , GER Harmonised Index of Consumer Prices , US GDP on Thu , US Core Personal Consumption Expenditure on Fri are the most important data that is expected this Week.

Weekly Summary: USD strengthened against EUR,GBP, CHF,NZD , CAD and was flat against JPY,AUD and SGD. AUD was the strongest but gained only 20 pips and GBP was the weakest losing 354 pips .GBPAUD, GBPJPY and GBPSGD was the best crosses with a total move of 366/345/325 pips within a week.

EURUSDClosed @ 13190 which was well below theOpenand ^{Res 2 against GBP , < Res 2 against CAD. We believe there is more weaknessto be seen towards 13045-00/12880 levelsand the Upside may be limited to 13245/13305-65 levels . GBPUSDClosed @ 15165 which was well below the Open and < Sup 10 and near the Low andbreached the prior swing low of 15270 level. GBPUSDwas < Sup 2against EUR and CAD, < Sup 5 against JPY, CHF,AUD, NZD and SGD , we
expect it to getstablenear the 15080-00 levels for some retracementand the Upside may be limitedto 15270-15330-65 levels in the near term. We believe there is some more weakness is expected once the 15130 level is cracked but may be limited to 15080-00 levelsfor pullback higher. USDJPY Closed @ 9340 and near the Open and near the Equilibrium level , looks like it is caught in a Range between 9480/9200 levels and we need to wait and see for further breakout. USDJPYwasFlat against AUD, SGD, < Sup 2 againstCHF and NZD,< Sup 5 against EUR, GBP,and CAD .We believe thatwe expect to be in a Range and we may get a breakout higher to test the highs.}

USDCHF Closed @ 9295 which was well above the Open and > Res 3 away from the Equilibrium level, CHF was < Sup 2 against EUR, JPY , CAD, SGD and < Sup 5 against GBP , and > R2 against AUD and Flat against NZD . We believe that other Crosses weakness may not permit USDCHF to march higher , we expect the Bulls to be in a Range or to struggle to crack the 9395/9435 levels . AUDUSD Closed @ 10320 which was near the Open and < Res 1 near the Equilibrium level, AUD was < Res 1 , against USD, SGD, < S5 against EUR, GBP, > R2 against CHF, NZD, > R5 against CAD and was Flat against JPY . We believe that other Crosses are trading at Critical levels and that may cause the AUDUSD to have some pullback lower and AUDUSD may still be in a Range until the breakout. USDCAD Closed @ 10215 which was well above the Open and >R5 , CAD was < R1 against EUR , > R2 against NZD, >R5 against USD, AUD, < S2 against GBP,CHF , < S5 against JPY,SGD . We believe that USDCAD is Weak against other Crosses except GBP and that may cause the USDCAD to test the Highs and may reach 10300-45-65 levels before a major reverse and 10165-10 may be well supported.

USDCHF Closed @ 9295 which was well above the Open and > Res 3 away from the Equilibrium level, CHF was < Sup 2 against EUR, JPY , CAD, SGD and < Sup 5 against GBP , and > R2 against AUD and Flat against NZD . We believe that other Crosses weakness may not permit USDCHF to march higher , we expect the Bulls to be in a Range or to struggle to crack the 9395/9435 levels. AUDUSD Closed @ 10320 which was near the Open and < Res 1 near the Equilibrium level, AUD was < Res 1 , against USD, SGD, < S5 against EUR, GBP, > R2 against CHF, NZD, > R5 against CAD and was Flat against JPY . We believe that other Crosses are trading at Critical levels and that may cause the AUDUSD to have some pullback lower
and AUDUSD may still be in a Range until the breakout. USDCAD Closed @ 10215 which was well above the Open
and >R5 , CAD was < R1 against EUR , > R2 against NZD, >R5 against USD,AUD, < S2 against GBP,CHF , < S5 against JPY,SGD . We believe that USDCAD is Weak against other Crosses except GBP and that may cause the USDCAD to test the Highs and may reach 10300-45-65 levels before a major reverse and 10165-10 may be well supported.

NZDUSDClosed @ 8380 which was well below theOpen but within a Range and R2 against CAD,AUD and Flat against CHF .We believe that NZD is well balanced against Other Crosses and NZDUSD is going to be in a Range until the Breakout and breaking the 8420-75 is going to be
difficult for the Bulls . USDSGDClosed @ 12370 which was near theOpen and near the Equilibrium level, SGDwas < S2 against CHF, NZD < S5 against EUR, GBP, CAD> R1 against AUD and was Flat against USD, JPY.We believe that other Crosses Weakness are making the USDSGD strongand we expect the Range trading to continue until the breakout. Spot Gold Closed @ 15815 which waswell belowtheOpenand < S8 , and last week it closed

Conclusion: EUR ,GBP,CAD more Weakness but maybe limited, JPY , AUD, SGD , NZD may be withina Rangeuntil the Breakout . We like to pick EUR , CAD and GBP for this week with expecting USD strength against all these three ,but Italy Elections outcome may have some effect on the EUR. We still choose EUR and trade on the Technical levels.

The Accuracy of the Long Term View may vary from the Weekly Projected Levels, so it is better to Pay attention to the Daily Report for more scrutinized view. Good Luck and Happy trading for the Week.