The EUR/USD paid moved up significantly on the back of great German export data and reached the 1.3430 level. The pair then turn the sentiment and started to fall. As the new week started, the pair fell below 1.3400. We should expect that the bearish trend will remain before the German ZEW Economic Sentiment which is scheduled to be release on Tuesday. We can see that the economic weakness has already hurt the strong German economy which may lead to further drop down. Today there are no economic releases so we should trade technically. The movement is sideways. The support is found at 1.3300 and resistance at 1.3445.
The GBP/USD pair has continued its long term move down and on Friday reached the lowest price in 2 months. Once touching the 1.6765 level reversed and slightly corrected the movement. The U.K. market expect this week very important labour data which are coming out on Wednesday (Claimant count change and Unemployment change) and therefore we should be able to see some speculation before. Because the data are predicted to come out mixed the movement may be choppy. The trend is sideways. The support is found at 1.6735 and resistance at 1.6860.
August 11, 2014 – Forex News
Hot Asset For Today: GBP/USD
The EUR/USD paid moved up significantly on the back of great German export data and reached the 1.3430 level. The pair then turn the sentiment and started to fall. As the new week started, the pair fell below 1.3400. We should expect that the bearish trend will remain before the German ZEW Economic Sentiment which is scheduled to be release on Tuesday. We can see that the economic weakness has already hurt the strong German economy which may lead to further drop down. Today there are no economic releases so we should trade technically. The movement is sideways. The support is found at 1.3300 and resistance at 1.3445.
The GBP/USD pair has continued its long term move down and on Friday reached the lowest price in 2 months. Once touching the 1.6765 level reversed and slightly corrected the movement. The U.K. market expect this week very important labour data which are coming out on Wednesday (Claimant count change and Unemployment change) and therefore we should be able to see some speculation before. Because the data are predicted to come out mixed the movement may be choppy. The trend is sideways. The support is found at 1.6735 and resistance at 1.6860.
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