On Friday, the EUR/USD pair continued downward as nervousness on the market persisted. The pair bounced off the 1.1100 support level but finished the week slightly below 1.1200. During the weekend, the Greek election took place and as expected, Syriza party won. The pair declined back to 1.1100 and again tested to break through. However, the pair lost the momentum and bounced back up. At 9.00AM (GMT) the German Ifo Business Climate will be released and is expected to show the highest figure since July 2014. If the reading disappoints the pair may test the support third time. The movement is sideways. The support is found at 1.1100 and resistance is at 1.1290.
Today’s Main Events:
09.00 GMT: EUR – German Ifo Business Climate Index – rates the current German business climate and measures expectations for the next six months.
09.30 GMT: GBP – BBA Mortgage Approvals – measures the number of new mortgages approved by BBA-backed banks during the previous month. It includes more than half of the total U.K. mortgage market. It provides information about the buyers in the housing market in the U.K.
January 23, 2015 – Daily Market News
On Friday, the EUR/USD pair continued downward as nervousness on the market persisted. The pair bounced off the 1.1100 support level but finished the week slightly below 1.1200. During the weekend, the Greek election took place and as expected, Syriza party won. The pair declined back to 1.1100 and again tested to break through. However, the pair lost the momentum and bounced back up. At 9.00AM (GMT) the German Ifo Business Climate will be released and is expected to show the highest figure since July 2014. If the reading disappoints the pair may test the support third time. The movement is sideways. The support is found at 1.1100 and resistance is at 1.1290.
Today’s Main Events:
09.00 GMT: EUR – German Ifo Business Climate Index – rates the current German business climate and measures expectations for the next six months.
09.30 GMT: GBP – BBA Mortgage Approvals – measures the number of new mortgages approved by BBA-backed banks during the previous month. It includes more than half of the total U.K. mortgage market. It provides information about the buyers in the housing market in the U.K.
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