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On Tuesday, the Fed President Jerome Powell's presentation on monetary policy and economy in the House of Representatives shows the Hawks ' attitude in the market, and today the Senate's presentation will be followed. On the other hand, important data from the United States was followed yesterday. 4. While the quarterly GDP change was revised in line with expectations, the first calculation was below 0.1 percent. The Chicago Purchasing Managers Index was announced at 61.9 percent below expectations (64.2 percent), while the Pending housing sales data for January fell by 4.7 percent. In the euro zone, inflation data was announced in parallel with the expected figures in the market. In Germany, the rate of unemployment decreased more than predicted, while the rate of unemployment occurred in parallel with the forecast. Looking at today's economic calendar,; in addition to the manufacturing PMI data coming from two regions, the US will monitor personal income and expenses, Unemployment Claims and personal consumption expenditure indices(PCE). In addition to President Powell's speech, we also find it useful to keep track of future statements from the Fed officials.Technically speaking, as of November 2017, the lower band break of the rising channel, which started as of November 1.2285 support is also passed, and sales direction is gaining weight parity, 1.2190-1.2170 support zone is being followed. In case of a downtrend here, the bottom channel of the long-term rising channel continues since the beginning of 2017 may become a target. On the other hand, our resistance points are at 1.2215, 1.2245 and 1.2275 levels, which can be seen in the upward movement of resistance above 1.21990
