Last Friday, the EUR/USD slightly increased and finished just below 1.3400 in reaction to weaker U.S. data. As the new week started the pair slightly declined to its current price at 1.3385. Today there is no important economic data coming out meaning investors should trade more technically and watch support and resistance levels. Remember that on Wednesday the FOMC Meeting Minutes will be posted and we should expect to see some speculation before.
The movement is sideways. Support is found at 1.3330 and resistance at 1.3445.
GBP/USD
Following the disappointing UK Inflation report last week, the GBP/USD fell to its lowest price since February. The pair finished the week slightly below 1.6690. However, the week began with a positive gap and opened slightly above 1.6710. The British pound is advancing slightly before tomorrow’s data which will show the yearly change in CPI. The expectation is to see a 1.8% increase. The pair has already tested its resistance at 1.6735 but did not manage to break through.
The trend is sideways. Support is found at 1.6735 and resistance at 1.6860.
August 18, 2014 – Forex News
Hot asset for today: EUR/USD
EUR/USD
Last Friday, the EUR/USD slightly increased and finished just below 1.3400 in reaction to weaker U.S. data. As the new week started the pair slightly declined to its current price at 1.3385. Today there is no important economic data coming out meaning investors should trade more technically and watch support and resistance levels. Remember that on Wednesday the FOMC Meeting Minutes will be posted and we should expect to see some speculation before.
The movement is sideways. Support is found at 1.3330 and resistance at 1.3445.
GBP/USD
Following the disappointing UK Inflation report last week, the GBP/USD fell to its lowest price since February. The pair finished the week slightly below 1.6690. However, the week began with a positive gap and opened slightly above 1.6710. The British pound is advancing slightly before tomorrow’s data which will show the yearly change in CPI. The expectation is to see a 1.8% increase. The pair has already tested its resistance at 1.6735 but did not manage to break through.
The trend is sideways. Support is found at 1.6735 and resistance at 1.6860.
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