Since Friday, the EUR/USD increased slightly as European stress tests were better than expected. Larger banks completed the tests with no problems, however, 25 banks failed. These banks will have time to fix their portfolios in order to pass the test in the future. This morning, the market awaited the German Ifo Business Confidence index and if it had been better-than-expected the pair could have climbed back above 1.2800. However, the actual reading was below expectations and therefore we can see bearish sentiment at the moment.
Today, pay attention to the U.S. pending home sales data which will be released at 2PM GMT. The movement is slightly bearish. Support is found at 1.2620 and resistance is at 1.2740.
On Friday, the GBP/USD climbed slightly and settled back above 1.6100. The pair increased as the U.K. GDP data showed 0.7% growth and the previous result was positively corrected. On the other side, the U.S. housing data disappointed the market as figures were lower than expected.
The trend is sideways. Traders should watch the U.S. housing data which will be released at 2PM (GMT). The trend is slightly bullish. Support is found at 1.6000 and resistance at 1.6130.
October 27, 2014 – Forex News
Hot asset for today: EUR/USD
EUR/USD
Since Friday, the EUR/USD increased slightly as European stress tests were better than expected. Larger banks completed the tests with no problems, however, 25 banks failed. These banks will have time to fix their portfolios in order to pass the test in the future. This morning, the market awaited the German Ifo Business Confidence index and if it had been better-than-expected the pair could have climbed back above 1.2800. However, the actual reading was below expectations and therefore we can see bearish sentiment at the moment.
Today, pay attention to the U.S. pending home sales data which will be released at 2PM GMT. The movement is slightly bearish. Support is found at 1.2620 and resistance is at 1.2740.
GBP/USD
On Friday, the GBP/USD climbed slightly and settled back above 1.6100. The pair increased as the U.K. GDP data showed 0.7% growth and the previous result was positively corrected. On the other side, the U.S. housing data disappointed the market as figures were lower than expected.
The trend is sideways. Traders should watch the U.S. housing data which will be released at 2PM (GMT). The trend is slightly bullish. Support is found at 1.6000 and resistance at 1.6130.
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