EURUSD

We are entering a dynamic period in terms of calendar data. While the presentation of Fed Chairman Powell is anticipated before the Senate today, tomorrow, the CPI data for January in the U.S. will be closely monitored. Additionally, the speeches of Cleveland Fed President Hammack, New York Fed President Williams, and Atlanta Fed President Bostic are also among the significant developments of the day. On Thursday, growth data from the UK, Swiss CPI, and U.S. PPI data will be followed; on Friday, U.S. Retail Sales data will be announced.

The Classic Dollar Index continues to maintain its overall optimism above the 233-day exponential moving average (105.10), while its movement above the 34-day average (107.80) emphasizes the Weak Reaction / Strong Trend expression. This situation signals that short-term pressures will continue for the EURUSD and GBPUSD pairs. Along with the daily important news flow, the stance of the 34-day average is of critical importance; this level will determine whether there will be a reaction towards the 233-day exponential moving average or a trend rally towards the 110 region.