Market Analysis – 02.13.2014

By February 13, 2014Analysis

Chart of the Day: GBP/USD D1

Cable has been on a tear as of late. Comments from B0E have kept it bouyant, but there is some resistance just above. I believe the worry zone will be near 1.7000 for the UK. They may have to raise their rhetoric about cutting rates at that point.

gbpusd-d1-02132014

EUR/USD D1 Chart:

Euro is at a W1 S/R level as shown in the chart with some D1 resistance just above. It pushed above the bear pin bar from two days earlier, but still closed below the W1 s/R level (blue line). It could be a stop hunt on the traders that took the pin bar short. We’ll keep a close eye on it.

eurusd-d1-02132014

In The News:

Dollar Falls as Retail Sales Decline Amid Weather-Slowed Growth (Bloomberg)

Weak retail sales shrugged off (ForexLive!)

Econ Events:

08:30 CAD Manufacturing Sales m/m

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