The Trading Week Focus

The U.S. has a relatively light calendar this week. Today the housing permits and starts number will be released. After a strong start this year, lumber prices have had a substantial correction. If we get weak housing numbers on Tuesday, combined with softening lumber prices, the Fed might be less likely to raise interest rates…

Daily Briefing- US Futures Higher ahead of Building Permit Data

EUR/USD: The pair has broken its upward trend line on a 4 hour time frame. The next support is near the 1.114 level and the resistance is at 1.1586.
USD/JPY: The pair bounced from our identified support zone of (108.14-107.63) on a 4 hour time frame. The near term support is at 106.17 and the resistance is at 113.82.
GBP/USD: The pair is trading in a downward wedge pattern on a 4 hour time frame. The next resistance is at 1.4517 and the support is 1.4006.