Yesterday the EUR/USD finally absorbed the data from last week and decreased to its previous support at 1.3580. The pair declined despite quiet market without any economic releases. European Central bank’s president Mario Draghi would have to face another important decision in case that the Euro would remained strong. It seems that China is the reason why the pair is so high despite recent data. China which holds about third of word international reserve asset to control Yuan is keeping Dollar low. Today we should keep an eye on the French Industrial Production at 6.45AM (GMT) and later on we should watch the U.S. JOLTS Job Openings at 2.00PM (GMT). The trend is sideways. The support is lying at 1.3580 and resistance at 1.3660.
The GBP/USD pair brought some trading opportunities yesterday. First the pair increase as the European session started, however turned its sentiment to bearish, as the U.S. Dollar got some profits from Friday’s Non-farm payrolls. During the American session the pair partially recovered the movement down and currently is traded around 1.6810. We should expect some pulling pressure up before important U.K. Manufacturing Production data which are expected to show 0.4% increase. Looking back we can see that past 3 data always positively surprised the market. The movement is sideways with support at 1.6780 and resistance at 1.6845.
June 10, 2014 – Forex News
Hot asset for today: GBP/USD
Yesterday the EUR/USD finally absorbed the data from last week and decreased to its previous support at 1.3580. The pair declined despite quiet market without any economic releases. European Central bank’s president Mario Draghi would have to face another important decision in case that the Euro would remained strong. It seems that China is the reason why the pair is so high despite recent data. China which holds about third of word international reserve asset to control Yuan is keeping Dollar low. Today we should keep an eye on the French Industrial Production at 6.45AM (GMT) and later on we should watch the U.S. JOLTS Job Openings at 2.00PM (GMT). The trend is sideways. The support is lying at 1.3580 and resistance at 1.3660.
The GBP/USD pair brought some trading opportunities yesterday. First the pair increase as the European session started, however turned its sentiment to bearish, as the U.S. Dollar got some profits from Friday’s Non-farm payrolls. During the American session the pair partially recovered the movement down and currently is traded around 1.6810. We should expect some pulling pressure up before important U.K. Manufacturing Production data which are expected to show 0.4% increase. Looking back we can see that past 3 data always positively surprised the market. The movement is sideways with support at 1.6780 and resistance at 1.6845.
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