After jumping to 1.1250, the EUR/USD corrected down to 1.1100 but then climbed back up to 1.1265. The pair climbed despite the released of better than expected U.S Jobless Claims data which supported the Greenback. Gains were seen as yields increased for German government bond yields.
During the Asian session, the pair traded with low volatility but remained high. Traders should watch the U.S ISM Manufacturing PMI release; the pair could drop lower if the figure is high. Most European markets will be closed today for ‘Labour day’. The trend is sideways. Support is found at 1.0960 and resistance at 1.1270.
On Thursday, the GBP/USD dropped from a 2 month high and has so far lost around 200 pips. The pair rebounded after 7 days of bullish movement. The pair could fall even lower due to uncertainty ahead of the upcoming elections.
Traders should pay attention to the U.K. Manufacturing PMI data which will come out at 8.30AM (GMT). At 2.00PM (GMT) the U.S. ISM Manufacturing PMI will be published. The trend is sideways. Support is found at 1.5300 and resistance at 1.5500.
May 1, 2015 – Forex News
Hot asset for today: USD
EUR/USD
After jumping to 1.1250, the EUR/USD corrected down to 1.1100 but then climbed back up to 1.1265. The pair climbed despite the released of better than expected U.S Jobless Claims data which supported the Greenback. Gains were seen as yields increased for German government bond yields.
During the Asian session, the pair traded with low volatility but remained high. Traders should watch the U.S ISM Manufacturing PMI release; the pair could drop lower if the figure is high. Most European markets will be closed today for ‘Labour day’. The trend is sideways. Support is found at 1.0960 and resistance at 1.1270.
GBP/USD
On Thursday, the GBP/USD dropped from a 2 month high and has so far lost around 200 pips. The pair rebounded after 7 days of bullish movement. The pair could fall even lower due to uncertainty ahead of the upcoming elections.
Traders should pay attention to the U.K. Manufacturing PMI data which will come out at 8.30AM (GMT). At 2.00PM (GMT) the U.S. ISM Manufacturing PMI will be published. The trend is sideways. Support is found at 1.5300 and resistance at 1.5500.
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