The EUR/USD climbed for a second day and reached a high of 1.1380. The Dollar has been under pressure recently as many pieces of data have missed expectations and created uncertainty regarding future monetary policy. Adding to the sentiment, yesterday’s Retail Sales data missed predictions and solidified expectations that rates will be hiked in September rather than in June.
Today, the pair continued to trade with bullish sentiment and climbed to a high of 1.1440. Important U.S data will be released at 12.30 PM including jobless claims. Traders should watch this closely as if the data is strong, we may see the pair drop back down. The movement is sideways. Support is found at 1.1125 and resistance at 1.1450.
Yesterday, the USD/JPY plummeted down and almost lost 100 pips. Once again, movement was driven by the Dollar which depreciated on the back of worse than expected data. The pair reached 119.05 before losing momentum.
Today, the pair is trading sideways between 118.9 and 119.35. Traders should watch U.S data which will be released at 12.30 PM (GMT) but the most important event for the pair will be a speech from the Governor of the Bank of Japan, Kuroda, which will occur at 3.40AM (GMT). The movement is sideways. Support is found at 118.80 and resistance at 120.50.
May 14, 2015 – Forex News
Today’s Hot Asset: EUR/USD
EUR/USD
The EUR/USD climbed for a second day and reached a high of 1.1380. The Dollar has been under pressure recently as many pieces of data have missed expectations and created uncertainty regarding future monetary policy. Adding to the sentiment, yesterday’s Retail Sales data missed predictions and solidified expectations that rates will be hiked in September rather than in June.
Today, the pair continued to trade with bullish sentiment and climbed to a high of 1.1440. Important U.S data will be released at 12.30 PM including jobless claims. Traders should watch this closely as if the data is strong, we may see the pair drop back down. The movement is sideways. Support is found at 1.1125 and resistance at 1.1450.
USD/JPY
Yesterday, the USD/JPY plummeted down and almost lost 100 pips. Once again, movement was driven by the Dollar which depreciated on the back of worse than expected data. The pair reached 119.05 before losing momentum.
Today, the pair is trading sideways between 118.9 and 119.35. Traders should watch U.S data which will be released at 12.30 PM (GMT) but the most important event for the pair will be a speech from the Governor of the Bank of Japan, Kuroda, which will occur at 3.40AM (GMT). The movement is sideways. Support is found at 118.80 and resistance at 120.50.
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