Our calendar revealed important fundamentals from the European Continent and the United States, yet still we wait for the US University of Michigan Confidence reading where markets foresee an improvement in the levels of confidence due to the ongoing interventions of policy makers in markets. We also witnessed an improvement to the US Import Prices rising to 2.0% on the month and improving to -15.0% levels from the previous -19.3%. Before sealing the week, majors rallied against the US Dollar taking advantage to continue the upside waves created earlier, as we see the EU is currently trading at the highest in eight months.

The euro has maintained to incline for seventh consecutive day, where the EUR/USD pair is currently trading at 1.4609 levels after it recorded a high of 1.4628 and a low of 1.4568. However, the pair could not escalate to reach the key resistance levels at 1.4675 levels, where if the pair managed to settle above the mentioned resistance levels it opens the path for it to head toward 1.5000 levels, however 1.4360 levels must remain intact to it to head north.

Moreover, the British Pound rallied against the US dollar for the fourth consecutive day, the GBP/USD is currently trading at 1.6697 levels after it recorded a high of 1.6740 and a low of 1.6641. After the incline seen, we currently project to see the pair heading into a downside correction, where the set targets are for the pair to reach 1.6640 and 1.6580 levels.

As a result from the ongoing weakness seen today, the US dollar fell against the Japanese Yen to currently trade at 90.67 levels after it recorded a high of 91.79, the pair might continue heading downs south to reach the set targets at 89.15 levels.