Today is Sat, August 19, 2017 20:21:59 GMT
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Forex Chart of the Day Market Expectations

EUR/USD spent the day consolidating after peaking at 1.3183 yesterday.  If the technical traders are right, we may have seen the high for a long while and the completion of a technical retracement which began from 1.2624 (16 Jan).  However we’re not totally convinced and we cautiously think 1.3244 may be the top if 1.2950 holds.  Fundamentally, the latest on the Greek saga is that the Institute of International Finance (which represents the creditors) and Greek officials continue negotiations and may well continue over the weekend. On the radar for the rest of the day is US Gross Domestic Product Q4 (annualised), GDP Price Index (1:.30 GMT) and the University of Michigan Confidence survey (14:55GMT). For US GDP, the market is expecting 3% (last 1.8%) and the Price index is expecting 1.9% (last 2.6%). For the U. Mich survey market expects no change from previous 74.  From now until the end of the New York session we see a range of 1.3023 – 1.3170.