The EUR is falling vs the USD after the Euro Zone finance minsters reject the Greek PSI offer. Let’s see if this brings any follow through in the coming trading sessions. Lately, the Euro has been pretty resilient to bad news, a sign it could be ready to rally. The Federal Reserve’s two-day policy meeting begins tomorrow. We could see some market moving action on Wednesday as a result. Lastly, and most interesting to me, Iran asks for oil payments from India in Yen and Japan has asked the USA for an exception in the Iran ban. The US Dollar is slowing losing it’s reserve currency status. Oh, I also enjoyed this read – Davos guide: what you need to know about the World Economic Forum Conquer V2 Trading With only one open position you know we are in a slow market! All currencies have extremely low ATRs (average true ranges) which is also a sign of a contracting market. A good place to be, it only means things are going to open up soon! 
GBP/USD Forecast: The GBP did not look to strong into the 1.5600 level where it met strong resistance from early December. I do not believe we will see an entry on this pair but just n case they are waiting at the 1.5599 area to go long. 
EUR/USD Forecast: The EUR continue to take back gains vs the USD trading all the way up to the 1.3050 area where it met resistance from December. Many technical traders had sell orders waiting. We will see if this momentum continues and picks up, I have sell orders in at the 1.3000 area. 
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