The EUR/USD pair increased yesterday above 1.3760 as another U.S. data came out unexpectedly low. The price is now as high as it was in the end of December. The pair reacted to the data before FOMC Meeting Minutes will be released today at 7.00PM (GMT). Investors are concern about possible change in monetary policy and slower pace of withdrawals from monetary stimulus. Before the report, at 1.30PM (GMT), we should keep an eye on U.S. Building Permits and PPI data. The trend is slightly bullish but might change as the fundamentals data comes out. The support is lying at 1.3690 and resistance at 1.3800.
On Tuesday the GBP/USD pair slightly decrease and finish the day around 1.6685. The U.K. CPI showed another decrease and slightly pushed the pair down but as the U.S. Dollar reacted on the negative U.S. Data this movement down was mainly erased. Today we expect high volatility connected to U.K. Claimant Count Change and Unemployment Rate releases which will come out at 9.30AM (GMT). From previous data we can see that this event is usually bullish when the pair adding more than 70 pips within 30 minutes. The pair will be also affected by expectation over the U.S. FOMC report which will be posted at 7.00PM (GMT). The trend is slightly bullish. The support lying at 1.6650 and resistance at 1.6825.
The USD/JPY pair erased part of its previous movement up caused by BoJ Report where BoJ decide to boost its monetary stimulus. The pair declined to 102.15 area mainly due to weaker U.S. Dollar which is going down before the FOMC Meeting Minutes. Yesterday BoJ Governor Kuroda said that he want to put downward pressure on bond yields. That may cause to move down Japanese stock as well. Today we should pay attention to the FOMC report and their tapering strategy. The trend is slightly bearish. The support is lying at 101.80 and resistance at 102.70.
February 19, 2014 – Forex News
Hot asset for today: GBP/USD
The EUR/USD pair increased yesterday above 1.3760 as another U.S. data came out unexpectedly low. The price is now as high as it was in the end of December. The pair reacted to the data before FOMC Meeting Minutes will be released today at 7.00PM (GMT). Investors are concern about possible change in monetary policy and slower pace of withdrawals from monetary stimulus. Before the report, at 1.30PM (GMT), we should keep an eye on U.S. Building Permits and PPI data. The trend is slightly bullish but might change as the fundamentals data comes out. The support is lying at 1.3690 and resistance at 1.3800.
On Tuesday the GBP/USD pair slightly decrease and finish the day around 1.6685. The U.K. CPI showed another decrease and slightly pushed the pair down but as the U.S. Dollar reacted on the negative U.S. Data this movement down was mainly erased. Today we expect high volatility connected to U.K. Claimant Count Change and Unemployment Rate releases which will come out at 9.30AM (GMT). From previous data we can see that this event is usually bullish when the pair adding more than 70 pips within 30 minutes. The pair will be also affected by expectation over the U.S. FOMC report which will be posted at 7.00PM (GMT). The trend is slightly bullish. The support lying at 1.6650 and resistance at 1.6825.
The USD/JPY pair erased part of its previous movement up caused by BoJ Report where BoJ decide to boost its monetary stimulus. The pair declined to 102.15 area mainly due to weaker U.S. Dollar which is going down before the FOMC Meeting Minutes. Yesterday BoJ Governor Kuroda said that he want to put downward pressure on bond yields. That may cause to move down Japanese stock as well. Today we should pay attention to the FOMC report and their tapering strategy. The trend is slightly bearish. The support is lying at 101.80 and resistance at 102.70.
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