CPI last month increased by 0.5% from January, according to the Labor Department. That followed increases of 0.4% the previous two months. Over the last 12 months, prices were up 2.1% in February. Economists had  expected consumer prices to rise by 0.5% in February and the core consumer price index to gain 0.1%.

GBPUSD seems to be setting itself for another dip towards 1.4810 level and
test that level again. Before doing so it is taking some correction and if
GBPUSD rises to something around 1.5000 level, then it will be an ideal
situation for traders to sell GBPUSD for targets around 1.4810 level.  

Break of 1.4810 will open up GBPUSD for an extended move towards 1.4500
level and break out traders will surely focus on that level as well.

On the upper side, break above 1.5000 level will set 1.5200 as next target
for GBPUSD. We might see traders entering with decent stops and hope to
capture the right move.

USDCHF moved very nicely towards 1.0700 but was unable to break that level
and is currently taking some breather. It seems that USDCHF will make
another attempt towards 1.0730 level and if USDCHF manages to break above
that level, then we will be looking at USDCHF moving towards 1.0850 level.

On the lower side, the retracement should end maximum by 1.0600 level and if
the dip is extended then long term traders will look to buy USDCHF around
1.0550 level.

EURUSD is in full momentum to break below 1.3500 and then target 1.3410
level during this week. Looking at the current move, there will not be many
traders, especially intra-day traders that will look t buy EURUSD at the
moment.

Mostly traders will look to sell, especially if EURUSD takes a bit of
retracement and then set profit targets around 1.3450 level. Ideally traders
will hope to sell EURUSD around 1.3600 level but the more aggressive traders
might choose to sell even below that level.

If EURUSD manages to break above 1.3600 level, then we might see EURUSD once
again testing 1.3800 level but keeping current scenario, we don’t see too
many chances of EURUSD doing that.

EURUSD broke above an important level at 1.3620 and it seems that it is
currently looking to target 1.3800 level. The zone between 1.3800 and 1.3850
levels is important because once EURUSD manages to break above that zone,
then we will be looking at EURUSD heading towards 1.4000 level.

The current momentum seems to be technically with buying at the moment and
we might find intra-day traders focusing the same way.
Info by Automaticx.com

EURUSD is currently looking to test some important level at the moment. A
good resistance can be seen at 1.3670 and EURUSD touched it once yesterday
and might look to test it once again.

If EURUSD managed to continue the current upward momentum and managed to
break that level, then we will be looking EURUSD heading towards 1.3780
level and see the upward trend initiated.

Keeping the current scenario in mind, it is most probable that we might see
EURUSD taking a dip and heading back to its target at 1.3500 level. Once
EURUSD breaks that level again, we will be looking at EURUSD targeting
1.3320 level next.

The GBP is rapidly falling and soon to approach a fresh, 9-month low against the USD dollar which was set yesterday at 1.5189.

This downward fall is due to the pair (GBP/USD) recently breaking through the 1.5240 support.

We can report that Valeria Bednarik who is an independent analyst for FXStreet.com that:

“The pound remains under selling pressure, weighed [down] by rumors of an early election in the U.K. after earlier GDP positive revision give the U.K. government the chance to claim the economy is on the way to recovery,”

EURUSD was traded sideways with low volume for couple of days and its RRI was also on lower side and with sideways movement, RSI has opened up a bit and have created some space for downward move towards 1.3550 level.

A good selling level is present just around 1.3680 and EURUSD already touched it one today and traders should look to sell EURUSD around that level for a nice trade with targets below 1.3600 level.

On the upper side, if EURUSD breaks 1.3680 level, then we will see EURUSD heading towards 1.3800 level but we expect more selling pressure today and EURUSD to resume its downward trend.

Created by www.Automaticx.com

USDJPY is being traded in a tight, sideways trend and it seems that it is
approaching a point where it is ready to break to a side and form a trend. 

The first focus level is at 90.40 and break of this will take USDJPY towards
93.00 level but it seems that it might not be able to do so. And also we
might see some aggressive traders selling for prices above 90.00 level.

On the lower side 89.75 is an important level and USDJPY should break below
this level to continue long term selling trend and once USDJPY breaks below
that level, the next target can be seen around 88.60

USDJPY seems to stay in tight range and being traded in the same manner during this week. USDJPY is getting towards 90.00 level and we might see USDJPY going sown from there towards 89.00 level. Intra-Day traders will more be interesting in buying USDJPY around 89.00 level for short intra-day target. If USDJPY manages to break 88.75 or 90.25 level, we might see the scenario clearing up for long term trades.