UK Visible Trade Balance in April was better than expected -8.22 billion pounds vs. expectations for -8.8 billion pounds. UK Trade Balance Non-EU was -3.41 billion pounds vs. forecast for -3.55 billion pounds. UK Trade Balance was -2.57 billion pounds vs. forecast -3.0 billion pounds. However, the positive was blighted by the inner structure; import and export dropped, meanwhile import decreased to a greater degree than export, it looks like the major figure grew. Starting from the news release and till the closure the pound was moving down, which partly proved the opinion about speculative growth on Thursday.
Today there is no data on the UK. On Tuesday, weak data on Industrial production in April is expected. Int he short term we expect the pound will be lower than the Thursday’s low.
Technically, after the rate overcome the testing level 1.5564, the growth to the high of June 7, 1.5617, is possible. If the support of trend line on the H4 is broken 1.5503, the down ward movement to the range of Fibonacci 38.2% and the lower trend line 1.5382-1.5408 is possible.
The material has been provided by InstaForex Company – www.instaforex.com
UK Visible Trade Balance in April was better than expected -8.22 billion pounds vs. expectations for -8.8 billion pounds. UK Trade Balance Non-EU was -3.41 billion pounds vs. forecast for -3.55 billion pounds. UK Trade Balance was -2.57 billion pounds vs. forecast -3.0 billion pounds. However, the positive was blighted by the inner structure; import and export dropped, meanwhile import decreased to a greater degree than export, it looks like the major figure grew. Starting from the news release and till the closure the pound was moving down, which partly proved the opinion about speculative growth on Thursday.
Today there is no data on the UK. On Tuesday, weak data on Industrial production in April is expected. Int he short term we expect the pound will be lower than the Thursday’s low.
Technically, after the rate overcome the testing level 1.5564, the growth to the high of June 7, 1.5617, is possible. If the support of trend line on the H4 is broken 1.5503, the down ward movement to the range of Fibonacci 38.2% and the lower trend line 1.5382-1.5408 is possible.
The material has been provided by InstaForex Company – www.instaforex.com
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