On Thursday, the EUR/USD bounced off its resistance at 1.1445 and declined to 1.3350. The bearish sentiment came after Germany rejected a request from Greece to extend their bailout. However, later in the session, the German chancellor spoke with the Greek Prime Minister and according to unofficial sources, Germany will give them a chance to negotiate. This will be the topic of the day and will move the Euro.
Traders should also pay attention to the European Flash Manufacturing and Services PMI which will be released at 9AM (GMT). At 2.45PM (GMT) the Flash Manufacturing PMI will be released. The movement is sideways. Support is found at 1.1320 and resistance at 1.1445.
Yesterday, the GBP/USD slightly decreased but remained above 1.5410. The pair would have dropped further, however, the U.S. Philadelphia Manufacturing Index came out below expectations. In addition, the U.K. CBI Industrial Order Expectation showed a better figure than expected.
Today at 9.30AM (GMT), U.K. Retail Sales data will be published and could push the pair lower as it is expected to be negative. At 2.45PM (GMT) the U.S. Flash Manufacturing PMI will be released. The movement is currently sideways. Support is found at 1.5400 and resistance at 1.5485.
February 20, 2015 – Forex News
Hot asset for today: EUR/USD
EUR/USD
On Thursday, the EUR/USD bounced off its resistance at 1.1445 and declined to 1.3350. The bearish sentiment came after Germany rejected a request from Greece to extend their bailout. However, later in the session, the German chancellor spoke with the Greek Prime Minister and according to unofficial sources, Germany will give them a chance to negotiate. This will be the topic of the day and will move the Euro.
Traders should also pay attention to the European Flash Manufacturing and Services PMI which will be released at 9AM (GMT). At 2.45PM (GMT) the Flash Manufacturing PMI will be released. The movement is sideways. Support is found at 1.1320 and resistance at 1.1445.
GBP/USD
Yesterday, the GBP/USD slightly decreased but remained above 1.5410. The pair would have dropped further, however, the U.S. Philadelphia Manufacturing Index came out below expectations. In addition, the U.K. CBI Industrial Order Expectation showed a better figure than expected.
Today at 9.30AM (GMT), U.K. Retail Sales data will be published and could push the pair lower as it is expected to be negative. At 2.45PM (GMT) the U.S. Flash Manufacturing PMI will be released. The movement is currently sideways. Support is found at 1.5400 and resistance at 1.5485.
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