The big picture: The market decides on the direction.
Although, news comes in different directions.
Positive: Prime Minister of Britain, Theresa May, agrees to postpone Brexit's term unless she receives a majority on the last ballot under an agreement with the EU scheduled for March 12. The deadline will be rescheduled.
The US GDP report showed a confident 2.6% increase in the fourth quarter.
Fed Chairman, Jerome Powell, confirmed that the Fed stops tightening monetary policy, at least for the time being.
However, the market did not come to a united opinion about the direction of the spring trend: The pound clearly seeks to grow against the dollar but at the same time, the yen is falling against the dollar. Meanwhile, the dollar/yen is up.
The euro must consolidate above 1.1425 to continue its growth.
We are ready to buy the euro at a breakthrough to 1.1425. Alternately, we can sell on a breakdown of 1.1315.
The material has been provided by InstaForex Company - www.instaforex.com