European Forex session overview

There was a lot of statistical information have been published. January Japan CPI was 40.0. Swiss Consumer Climate in the same month was -19 vs. the forecast of -25. The December Goods Trade Balance in UK was -7.111 bln pounds, when the prediction was -8.600 bln. The Industrial Production YoY for December in the same country was -3.3%, vs. forecasted -3.0%, December Manufacturing Production YoY was 0.8%, when it was forecasted 0.4%. Bank of England has not changed the interest rate, the Asset Purchase Facility of BoE was 325 bln pounds as predicted. The interest rate has also been saved on the level of 1% by ECB.

EURUSD

The pair started the session with the increase, breaking the resistance level 1.3284. The price has reached the level 1.3305 and rebounded from the resistance line. After that the pair started to decline step by step, piercing the support line and level 1.3261. The last hour of the session gave the pair the sharply decline.

ADX is moving right above the mark 25, MACD is quiet bearish, Stochastic operates in the oversell area, the Bollinger Bands has shown the growth of the volatility at the first few hours of the session.

R: 1.3284, 1.3305

S: 1.3261, 1.3235

GBPUSD

The cable has been showing the stabile growth during the first half of the session, but then is rebounded from the resistance line. After some decline the price rebounded again, this tome from the support level 1.5831, and grew to the 1.5851 resistance level, breaking the resistance line. The pair is testing the long term resistance now.

ADX is increasing slowly, MACD has the bullish tone. Stochastic has made a cross at the mark 50.

R: 1.5851, 1.5885

S: 1.5831, 1.5793

USDCHF

The pair has been moving down during the first hours of the session, but when the price has taken the 0.9097 it changed the direction. The pair broke the resistance level 0.9120 and the resistance line. After that the pair has shown the upward dynamics. But the pair has changed the direction again and now we can see the decline.

ADX shows the absence of the trend strength, MACD is almost neutral, while Stochastic took the bearish tone. The Bollinger Bands are showing the increased volatility comparing with the day before.

R: 0.9135, 0.9142

S: 0.9120, 0.9098

USDJPY

The pair has been increasing at the beginning of the session. But at the mark 77.23 the price has changed the direction. During the decline the pair broke the support line 77.16. The rebound from the trend line from February 3 caused the growth, which could be stopped by the resistance line.

ADX shows the decrease of the trend strength, MACD is neutral, Stochastic has taken the bullish tone. Bollinger Bands are showing the remaining upward dynamics within the ascending trend.

R: 77.24(long term), 77.48

S: 77.16, 76.95.