Finally some important economic figures were released today after a calm week of no important economic figures. Today the SNB Swiss National Bank kept its key interest rate on hold at 0.25%, they mentioned that they still looking towards a weak Swiss Franc to help to stabilize the Swiss Economy and support the exports. This comment gave us a sign that the USDCHF is likely to rebound again to break out of its range trend between 1.0700 and 1.0850 to reach somewhere near 1.1000 soon.

As for US Economic figures, US Jobless Claims fell to 462K after revising last week to 468k. The expectation was for a drop towards 452K. The US Trade Balance released today was contrary to expectations, it hiked up to -37.3B versus -39.9B while the expectation was for it to show loses towards 40B.

The US dollar fell at the moment of announcing these figures but now continues to trade in a range trend. It's very likely the US Dollar will take advantages of the Economic Figures during the next period supported by the better than expected trade balance numbers.

The European currency is likely to remain weak below 1.3670 with a potential target of 1.3550 and 1.3510 during the next few days.

The British pound remains in a side way trend between 1.5000 and 1.4900. We need to watch for a WEEKLY close below its psychological level of 1.5000 which would be a clear sign for a continued down move towards 1.45.

Gold prices fell reaching one of our targets at 1100 and there is a chance of a continued down move towards 1090 and 1070 soon.