Tatiana Dementieva
Yesterday 1.3850 turned out to be an unbreakable resistance level for GBPUSD on its way to up.
All the efforts to get over the level eventually failed. Investors’ main concerns at the moment are the possibility of the ECB increasing its interest rate and the results of the forthcoming ECB Conference.
Today’s news releases have a restrained impact on the markets. They are to come out at 9.30, 10.00 and 15.30GMT.
For today’s Euro session the Department of Volume Analysis of has defined the following trends:
The mid-term trend of EURUSD is flattish
The short-term trend of 6EН1 (EURUSD futures) is the following:
Yesterday’s max volume cluster (max cluster of the week) located at 1.3761 is still topical. If there is an upward momentum from the level the bulls will probably gain confidence and continue the uptrend. If the price goes below the level, the flattish movement will continue.
Tatiana Dementieva
