Yesterday, the EUR/USD pair slightly rebounded on a thin trading value. The pair was first bouncing off the 1.3600 level but later as the U.S. market started and the stock market declined the pair settled slightly above 1.3600. Today the volatility should increase due to several economic releases. At 6.00AM (GMT) the German Trade Balance will be released. At 2.00PM (GMT) the U.S. JOLTS Job Openings will come out. Due to the fact that last week we saw strong U.S. labour data we should expect positive number even today. The movement is sideways. The support is lying at 1.3570 and resistance at 1.3620.
The GBP/USD pair slightly decreased during yesterday’s trading hours and tested its support. The pair rebounded after 7 days of moving up when the pair reached the highest value since 2008. We can see that despite the strong U.K. economic data the British pound need to be supported more to break through the 1.7200 level. Today at 8.30AM (GMT) the U.K. Manufacturing Production is coming out and is predicted to be 0.4%. In April we saw very strong data which pulled the pair up by 60 pips. If we see such a strong data today we may see the pair again reaching new 6 year maximum. On the other hand this data might send the pair down if worse-than-expected. The movement is sideways. The support is lying at 1.7090 and resistance at 1.7180.
July 8, 2014 – Forex News
Hot Asset For Today: GBP/USD
Yesterday, the EUR/USD pair slightly rebounded on a thin trading value. The pair was first bouncing off the 1.3600 level but later as the U.S. market started and the stock market declined the pair settled slightly above 1.3600. Today the volatility should increase due to several economic releases. At 6.00AM (GMT) the German Trade Balance will be released. At 2.00PM (GMT) the U.S. JOLTS Job Openings will come out. Due to the fact that last week we saw strong U.S. labour data we should expect positive number even today. The movement is sideways. The support is lying at 1.3570 and resistance at 1.3620.
The GBP/USD pair slightly decreased during yesterday’s trading hours and tested its support. The pair rebounded after 7 days of moving up when the pair reached the highest value since 2008. We can see that despite the strong U.K. economic data the British pound need to be supported more to break through the 1.7200 level. Today at 8.30AM (GMT) the U.K. Manufacturing Production is coming out and is predicted to be 0.4%. In April we saw very strong data which pulled the pair up by 60 pips. If we see such a strong data today we may see the pair again reaching new 6 year maximum. On the other hand this data might send the pair down if worse-than-expected. The movement is sideways. The support is lying at 1.7090 and resistance at 1.7180.
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