On Tuesday, the EUR/USD dropped to 1.0660. However the price then reversed and climbed to 1.0780. The Dollar has been trading with high volatility regardless of the fact that no data has been released. Traders appear to be speculating over the timing of the interest rate hike; on one side, it is widely expected that the Fed will increase the rate this year, but on the other side, it is unlikely to happen before September. The EU ZEW Economic sentiment came out above expectations, however the German ZEW Economic sentiment came out below the predicted value. As the data was mixed no significant movement was seen.
Today, we expect the sideways movement to continue as no economic data will be published. The trend is sideways. Support is found at 1.0620 and resistance at 1.0850.
Yesterday, the GBP/USD corrected its previous fall and increased from 1.4855 to 1.4970. The pair was driven by the U.S. dollar which depreciated as investors shifted their expectations regarding the timing of the interest rate hike. Recent data has shown a slowdown in the economy and this has threatened the Feds goals. Consequently, we can expect higher volatility to continue until new data is released.
Today, traders should watch the British pound as important data will be released. At 8.30AM (GMT) the U.K. MPC Official Bank Rate Vote will be published. All Monetary policy committee members have voted to keep interest rates low since January, but traders started to speculate that this could change as positive data has been released recently. The trend is sideways. Support is found at 1.4800 and resistance at 15055.
April 22, 2015 – Forex News
Hot asset for today: EUR
EUR/USD
On Tuesday, the EUR/USD dropped to 1.0660. However the price then reversed and climbed to 1.0780. The Dollar has been trading with high volatility regardless of the fact that no data has been released. Traders appear to be speculating over the timing of the interest rate hike; on one side, it is widely expected that the Fed will increase the rate this year, but on the other side, it is unlikely to happen before September. The EU ZEW Economic sentiment came out above expectations, however the German ZEW Economic sentiment came out below the predicted value. As the data was mixed no significant movement was seen.
Today, we expect the sideways movement to continue as no economic data will be published. The trend is sideways. Support is found at 1.0620 and resistance at 1.0850.
GBP/USD
Yesterday, the GBP/USD corrected its previous fall and increased from 1.4855 to 1.4970. The pair was driven by the U.S. dollar which depreciated as investors shifted their expectations regarding the timing of the interest rate hike. Recent data has shown a slowdown in the economy and this has threatened the Feds goals. Consequently, we can expect higher volatility to continue until new data is released.
Today, traders should watch the British pound as important data will be released. At 8.30AM (GMT) the U.K. MPC Official Bank Rate Vote will be published. All Monetary policy committee members have voted to keep interest rates low since January, but traders started to speculate that this could change as positive data has been released recently. The trend is sideways. Support is found at 1.4800 and resistance at 15055.
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