On Tuesday, the EUR/USD broke through its support and dropped to 1.1840. Bearish sentiment was seen despite the fact that U.S Factory Orders and Manufacturing PMI came out worse than expected. It is likely the pair decreased ahead of today’s FOMC Meeting Minutes report. Traders are eager to see if the Fed will make any comments regarding the awaited interest rate hike. If the report is hawkish the pair could drop as low as 1.1800. However, if dovish, we could see a climb back up to 1.2000.
EU CPI data will be released at 10.00AM (GMT) and the U.S. ADP Non-farm Employment Change will be published at 1.15PM (GMT). The movement is slightly bearish. Support is found at 1.1840 and resistance at 1.1975.
The GBP/USD continued to trade with bearish sentiment and reached a new 16 month low. The pair reached a low of 1.5105 but then recovered to 1.5130. The negative momentum has remained strong and therefore, the pair could move even lower. Recent data from the UK has been disappointing and investors seem to be selling the British Pound.
Today, traders should watch the ADP Non-farm Employment change at 1.15PM (GMT) as it acts as pre data for the Non-farm payrolls report on Friday. At 7.00PM (GMT) the U.S. FOMC report will be published. The movement is slightly bearish. Support is found at 1.5100 and resistance at 1.5200.
January 7, 2015 – Forex News
Hot asset for today: EUR/USD
EUR/USD
On Tuesday, the EUR/USD broke through its support and dropped to 1.1840. Bearish sentiment was seen despite the fact that U.S Factory Orders and Manufacturing PMI came out worse than expected. It is likely the pair decreased ahead of today’s FOMC Meeting Minutes report. Traders are eager to see if the Fed will make any comments regarding the awaited interest rate hike. If the report is hawkish the pair could drop as low as 1.1800. However, if dovish, we could see a climb back up to 1.2000.
EU CPI data will be released at 10.00AM (GMT) and the U.S. ADP Non-farm Employment Change will be published at 1.15PM (GMT). The movement is slightly bearish. Support is found at 1.1840 and resistance at 1.1975.
GBP/USD
The GBP/USD continued to trade with bearish sentiment and reached a new 16 month low. The pair reached a low of 1.5105 but then recovered to 1.5130. The negative momentum has remained strong and therefore, the pair could move even lower. Recent data from the UK has been disappointing and investors seem to be selling the British Pound.
Today, traders should watch the ADP Non-farm Employment change at 1.15PM (GMT) as it acts as pre data for the Non-farm payrolls report on Friday. At 7.00PM (GMT) the U.S. FOMC report will be published. The movement is slightly bearish. Support is found at 1.5100 and resistance at 1.5200.
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