18.01.201809:41 Forex Analysis & Reviews: Trading plan on 01/18/2018

Today, no news is expected from Europe. So, all the attention will be on the US statistics only since there will be a lot of interesting things. In particular, a significant decrease is expected both in the number of issued construction permits and in the construction projects that have been started. The number of permits can be reduced from 1,298 thousand to 1,290 thousand, and new construction projects from 1,297 thousand to 1,275 thousand. In addition, the number of initial applications for unemployment benefits can be reduced from 261 thousand to 250 thousand but here, the number of repeated applications should increase from 1,867 thousand to 1,900 thousand. In general, rather weak statistics are expected, which will allow the pound to gain a foothold on the levels reached yesterday, and to restore its position to the single European currency.

The euro/dollar currency pair has successfully worked the range level of 1.2330, forming a rebound and reaching the first value of 1.2180. Probably assume a temporary fluctuation within 1.2170 / 1.2250, wherein case the bearish interest persists, we will continue to move to the value of 1.2090.

The currency pair pound/dollar showing increased volatility, tried to approach the psychological level of 1.4000, but felt an obstacle near it, rolling back. Now, the quotation shows a two-digit fluctuation near the value of 1.3800. Probably assume a temporary bump in the range of 1.3800 / 1.3870, where it is worth looking at fixing the price below 1.3800 / 1.3780.