The EUR/USD pair has been traded in triangle patter which might give us some trading opportunities on its break out. The sign of decreasing volatility shows that the market is expecting some more data before moving. Today we should definitely watch the German Ifo Business Climate which will be released at 8.00AM (GMT). At 2.00PM (GMT) the U.S. CB Consumer Confidence and New Home Sales will come out and should increase the volatility. The CB Consumer Confidence is expected to be the highest since January 2008 which might give some strength to greenback. The trend is sideways. The support is lying at 1.3560 and resistance at 1.3640.
The GBP/USD pair slightly decreased yesterday as the European PMI data came worse-than-expected and cut the profits of the British pound as well. The pair has remained in the area above 1.7000 and currently has been ranging around 1.7020. The pair should experience higher volatility as very important economic data is coming out. At 8.30AM (GMT) the U.K. Inflation Report Hearings will be released. Any signals about higher inflation expectation would pull the pair up. On the other side, any dovish statements might erased last gains and send the pair below 1.7000. The movement is sideways. The support is lying at 1.7000 and resistance at 1.7060.
June 24, 2014 – Forex News
Hot asset for today: GBP/USD
The EUR/USD pair has been traded in triangle patter which might give us some trading opportunities on its break out. The sign of decreasing volatility shows that the market is expecting some more data before moving. Today we should definitely watch the German Ifo Business Climate which will be released at 8.00AM (GMT). At 2.00PM (GMT) the U.S. CB Consumer Confidence and New Home Sales will come out and should increase the volatility. The CB Consumer Confidence is expected to be the highest since January 2008 which might give some strength to greenback. The trend is sideways. The support is lying at 1.3560 and resistance at 1.3640.
The GBP/USD pair slightly decreased yesterday as the European PMI data came worse-than-expected and cut the profits of the British pound as well. The pair has remained in the area above 1.7000 and currently has been ranging around 1.7020. The pair should experience higher volatility as very important economic data is coming out. At 8.30AM (GMT) the U.K. Inflation Report Hearings will be released. Any signals about higher inflation expectation would pull the pair up. On the other side, any dovish statements might erased last gains and send the pair below 1.7000. The movement is sideways. The support is lying at 1.7000 and resistance at 1.7060.
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