On Friday, the EUR/USD experienced a very steep fall and erased almost 200 pips. The pair was driven by the surprisingly good U.S. Non-farm payrolls data which was expected to be weak. The pair rebounded around 1.1300 and slightly corrected up to 1.1335 during the Asian session.
Today, news from Greece could influence the single currency as the Greek government is standing behind their rejection of the bailout program. Any signs of instability within the Euro-zone can push the pair below 1.1300. On the other side, there are no important releases scheduled for today so volatility could remain low. The trend is sideways. Support is found at 1.1270 and resistance at 1.1400.
Last Friday, the GBP/USD bounced off its highest price in a month at 1.1305 and fell to 1.5210 as strong U.S. labour data supported demand for the dollar. A small price correction was seen during the Asian session which pulled the price up to 1.5260.
Today, no important data will be released so we should see technical trading. However, pay attention to recent news from Greece as the new Prime Minister, Alexis Tsipras, reaffirmed his previous statement regarding breaking down the austerity program. Even though the British pound is not directly connected to this crisis, it would be affected by this situation. The trend is sideways. Support is found at 1.5210 and resistance at 1.5305.
February 9, 2015 – Forex News
EUR/USD
On Friday, the EUR/USD experienced a very steep fall and erased almost 200 pips. The pair was driven by the surprisingly good U.S. Non-farm payrolls data which was expected to be weak. The pair rebounded around 1.1300 and slightly corrected up to 1.1335 during the Asian session.
Today, news from Greece could influence the single currency as the Greek government is standing behind their rejection of the bailout program. Any signs of instability within the Euro-zone can push the pair below 1.1300. On the other side, there are no important releases scheduled for today so volatility could remain low. The trend is sideways. Support is found at 1.1270 and resistance at 1.1400.
GBP/USD
Last Friday, the GBP/USD bounced off its highest price in a month at 1.1305 and fell to 1.5210 as strong U.S. labour data supported demand for the dollar. A small price correction was seen during the Asian session which pulled the price up to 1.5260.
Today, no important data will be released so we should see technical trading. However, pay attention to recent news from Greece as the new Prime Minister, Alexis Tsipras, reaffirmed his previous statement regarding breaking down the austerity program. Even though the British pound is not directly connected to this crisis, it would be affected by this situation. The trend is sideways. Support is found at 1.5210 and resistance at 1.5305.
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