As expected, The Fed highlighted the global economic slowdown risks

As expected, the Fed has kept the target for the its funds rate unchanged at 0.25% to 0.5% showing its worries about the economic outlook because of global economic slowdown and the financial development saying that "it is closely monitoring global economic and financial developments assessing their implications for the labor market and inflation, and for the balance of risks to the outlook".
As expected also, The Fed's clarified waiting and see stance for assessment lowered the chance of watching interest rate hiking this quarter, while the market is waiting by the end of the week to see preliminary annualized GDP growth in the fourth quarter of last year by only 0.8%, after growth by 2% in the third quarter.
The US equities shrugged off the robust rising of US new homes sales in December by 0.544m yearly to react negatively to the Fed's dovish tone, while the US treasuries prices were rising driving their yields down but this stance has been reversed during today Asian session with risk appetite improving again sending the gold to be traded near $1120 during the Asian session, after spiking to $1127.80 following the Fed's outcome.
USDJPY could rise up above 119 during the Asian session, while EURUSD kept its trading stance close to 1.088 waiting for the preliminary release of Germany Jan CPI which is expected to show today yearly rising by 0.55 after increasing in December by 0.3%.

Instrument in Focus: GBPUSD

After rising to 1.4365, the cable came again under pressure yesterday following the release of Dec UK BBA Mortgage Approvals which retreated to 43.975k, while the consensus was referring to rising to 45.500, after 44.533k in November.
The British pound has been also disappointed by Nationwide Housing Prices s.a rising this month by only 0.3%, while the forecast was pointing to increasing by 0.6% monthly, after soaring by 0.8% in December.
The cable which is waiting today for the preliminary release of UK Q4 GDP is having now its daily Parabolic SAR (step 0.02, maximum 0.2) below the trading rate for the fifth day in a row reading today 1.4106.
The cable daily RSI-14 is now in the neutral territory barely above its oversold area below 30 reading now 32.436, while its daily Stochastic Oscillator (5, 3, 3) which is more sensitive to the volatility is having now its main line in neutral region reading 64.461 and also its signal line is reading now 68.965, after failing to enter the overbought area above 80 by facing repeated resistance near 1.4365 area.
The cable drawdown is now meeting its hourly SMA200 at 1.4242 below its hourly SMA50 and hourly SMA100 in a relatively deep place below its daily SMA50, its daily SMA100 and its daily SMA200

Important levels: Daily SMA50 @ 1.4777, Daily SMA100 @ 1.5043 and Daily SMA200 @ 1.5278
S&R:
S1: 1.4171
S2: 1.4078
S3: 1.40
R1: 1.4365
R2: 1.4474
R3: 1.4643

GBPUSD Hourly Chart:

Commodities: Brent Mar. 16

Brent Mar. 16 could keep rising from its formed higher low last Monday at $29.26 to reach $33.49 yesterday unfazed of US EIA Oil stockpile growing in the week ending on Jan. 22 to 494,920m by gaining 8.383m barrels, while the market was waiting for adding 3.277m, after increasing by only 3.979m in the week ending on Jan. 15.
Brent Mar. 16 daily RSI is now well into the neutral region reading 47.744, while its daily Stochastic Oscillator (5, 3, 3) which is more sensitive to the volatility is having now its main line in into 81.908 leading its signal line which is still in the neutral region reading now 75.591.
Brent Mar. 16 daily Parabolic SAR (step 0.02, maximum 0.2) is referring today to $27.99 in its fifth consecutive day of being below the trading rate.
Brent Mar. 16 could also improve its look over the short term by having a place above its Daily SMA20 for the second time this year, after being above it in the beginning trading day of the year on growing tension between Iran and Saudi Arabia.

Important levels: Daily SMA20 @ $32.08, Daily SMA50 @ $37.32, Daily SMA100 @ $42.94 and Daily SMA200 @ $50.74
S&R:
S1: $29.26
S2: $27.10
S3: $25.51
R1: $35.25
R2: $39.68
R3: $41.56

Brent Mar. 16 Daily chart:

Hot instrument: EURUSD

EURUSD returned to keep trading near 1.088 after dipping to 1.0776 on the ECB president Draghi's hint that "The ECB may reconsider its policy stance in March amid a deteriorating economic outlook and turmoil in global markets".
After turning back to 1.088 area, The pair parameters are referring now to balanced situation having its daily RSI-14 nearly in the middle of neutral region reading now 51.178 and also its daily Stochastic Oscillator (5, 3, 3) which is more sensitive to the volatility is having now its main line in the neutral region reading 65.057 leading to the upside its signal line which is reading now 49.208.
The pair is still below the trendline resistance extension from 1.3992 to 1.1712, after failing to rise above its daily SMA100 by facing experienced resistance at 1.0991. however it is still trying to keep existence above its daily SMA50.
The pair is now in its day number 10 of continued existence above its daily Parabolic SAR (step 0.02, maximum 0.2) which is reading today 1.0754.

Important levels: Daily SMA50 @ 1.0841, Daily SMA100 @ 1.0976 and Daily SMA200 @ 1.1054
S&R:
S1: 1.0776
S2: 1.0709
S3: 1.0519
R1: 1.0991
R2: 1.1058
R3: 1.1098

EURUSD Daily chart: