The EUR/USD finished last week below 1.3500 – the lowest price since November 22nd. The price was pushed down by stronger U.S. Dollar and uncertain EU economic outlook. The EU CPI showed 0.7% increase instead of expected 0.9%. That increase speculation over possible further easing by ECB to prevent against deflation. The support is lying at 1.3720 and resistance at 1.3830. Today we should closely watch the U.S. ISM Manufacturing PMI. Past 7 results always came out above expectation. That might help the pair to go further down below its support. The trend is slightly bearish with support at 1.3475 and resistance at 1.3560.
The GBP/USD pair decreased to its 3-weeks lows due to stronger U.S. Dollar. The pair has remained bearish before U.K. Manufacturing PMI data which will be announced at 9.30AM (GMT). The last result came out worse-than-expected and this upcoming figure is predicted to show even lower number. However we should be careful on possible price correction after such a fall. The trend is slightly bearish with support lying at 1.6395 and resistance at 1.6500.
The USD/JPY has been moving sideways for past few days between 101.80 and 102.80. The Japanese Yen got some profits as the economic outlook in EU slightly decreased. Yen as a safe-haven currency benefits from those occasion and pushing the pair down despite strengthening U.S. Dollar. Today we should pay attention to U.S. ISM Manufacturing PMI at 3.00PM (GMT). Since that we need to be careful with placing a trade as the pair is just ranging between its support and resistance. The support is lying at 101.80 and resistance at 102.80.
February 3, 2014 – Forex News
Hot asset for today: GBP/USD
The EUR/USD finished last week below 1.3500 – the lowest price since November 22nd. The price was pushed down by stronger U.S. Dollar and uncertain EU economic outlook. The EU CPI showed 0.7% increase instead of expected 0.9%. That increase speculation over possible further easing by ECB to prevent against deflation. The support is lying at 1.3720 and resistance at 1.3830. Today we should closely watch the U.S. ISM Manufacturing PMI. Past 7 results always came out above expectation. That might help the pair to go further down below its support. The trend is slightly bearish with support at 1.3475 and resistance at 1.3560.
The GBP/USD pair decreased to its 3-weeks lows due to stronger U.S. Dollar. The pair has remained bearish before U.K. Manufacturing PMI data which will be announced at 9.30AM (GMT). The last result came out worse-than-expected and this upcoming figure is predicted to show even lower number. However we should be careful on possible price correction after such a fall. The trend is slightly bearish with support lying at 1.6395 and resistance at 1.6500.
The USD/JPY has been moving sideways for past few days between 101.80 and 102.80. The Japanese Yen got some profits as the economic outlook in EU slightly decreased. Yen as a safe-haven currency benefits from those occasion and pushing the pair down despite strengthening U.S. Dollar. Today we should pay attention to U.S. ISM Manufacturing PMI at 3.00PM (GMT). Since that we need to be careful with placing a trade as the pair is just ranging between its support and resistance. The support is lying at 101.80 and resistance at 102.80.
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