News & Data:
CFTC Positioning Data:
EUR/USD opened slightly lower on Sunday, after comments from the Greece Prime Minister Tsipras. The market does not seem to be too much concerned about a possible Greece exit from the Eurozone as of now, but it will remain a key theme in the coming weeks. EUR/USD recovered after the Tokyo open and almost reached a high of 1.1340 earlier. Intraday resistance noted at 1.1360, while support now eyed at 1.1275 (Jan 30th low). Similar price action in GBP/USD, which rose to 1.5260 after opening around 1.5220 on Sunday. There has been decent upside momentum in the pair until the NFP release on Friday put a stop to it. 1.5150 is now the pivotal support area to keep an eye on. A break below would suggest that the downtrend is resuming, with 1.4950 the next target. On the other side, 1.5340/50 is the next major hurdle for GBP bulls. USD/JPY fell back below 119 overnight, amid profit-taking and selling from Japanese corporations. After the strong US employment data, the pair is a buy-on-dip and good support can be expected at 118.20 and towards the 118.00 level.
The Week Ahead (Key Events & Data):