The last prognosis related to the EUR/USD pair was 100% correct. The pair reached the price level of 1.42 on Thursday (maximum price was 1.4247) and finished the week with 1.4146. We can’t say the same about the oil price prognosis. It looks like the Libyan situation doesn’t have a big impact on the oil price and the price continues to grow up to $94 per barrel (WTI Crude).
This week will bring four very important events – the FOMC rate decision and Mr. Bernanke’s press conference (Wednesday) and the ECB rate decision and Mr. Draghi’s press conference (Thursday). These events will shine some light to the economic plans of the US and Europe (the two main players) and we will build our trade plans on top of this. In the short term, we can expect some correctional movement on Monday and Tuesday.
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