The EUR/USD sharply climbed after U.S. Core Durable Goods came out worse than expected. This was the biggest decline in demand for U.S. made capital goods in 8 months and highlighted slower economic growth in the third quarter. The pair bounced off 1.2770 and is currently trading around 1.2740.
Today, there should be high volatility on the market as the Fed will release the FOMC Statement and it is widely expected that they will end the quantitative easing program. Any hawkish remarks could send the pair sharply down. The movement is sideways. Support is found at 1.2620 and resistance is at 1.2780.
On Tuesday, the GBP/USD climbed up and tested its strong resistance at 1.6180. The pair increased following the disappointing U.S. data and the pair remained high despite the fact that CB Consumer Confidence came out above expectations.
Today’s main event will be the U.S. FOMC statement which will be announced at 6.00PM (GMT). If we see the Fed considering an earlier hike in interest rates, the pair may fell below 1.6100. The trend is sideways. Support is found at 1.6075 and resistance at 1.6185.
October 29, 2014 – Forex News
Hot asset for today: EUR/USD
EUR/USD
The EUR/USD sharply climbed after U.S. Core Durable Goods came out worse than expected. This was the biggest decline in demand for U.S. made capital goods in 8 months and highlighted slower economic growth in the third quarter. The pair bounced off 1.2770 and is currently trading around 1.2740.
Today, there should be high volatility on the market as the Fed will release the FOMC Statement and it is widely expected that they will end the quantitative easing program. Any hawkish remarks could send the pair sharply down. The movement is sideways. Support is found at 1.2620 and resistance is at 1.2780.
GBP/USD
On Tuesday, the GBP/USD climbed up and tested its strong resistance at 1.6180. The pair increased following the disappointing U.S. data and the pair remained high despite the fact that CB Consumer Confidence came out above expectations.
Today’s main event will be the U.S. FOMC statement which will be announced at 6.00PM (GMT). If we see the Fed considering an earlier hike in interest rates, the pair may fell below 1.6100. The trend is sideways. Support is found at 1.6075 and resistance at 1.6185.
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