The EUR/USD pair started to range in a very narrow channel just between 1.3743 and 1.3773. Partially the lack of movement was due to no economic releases and partially because of waiting for today’s data. Today at 9.00AM (GMT) the German ZEW Economic sentiment will be released. From the past results we can see a declining trend which is expected to continue. That might push the pair more down. At 12.30PM (GMT) the U.S. Retail Sales is coming out and is expected to show 0.5% increase. The movement has remained sideways so we should watch support and resistance for possible break outs. Today EUR/USD has support of 1.3740 and resistance of 1.3775.
The GBP/USD pair corrected its previous drop yesterday and climbed back to 1.6900. However, after reaching that level the price reversed and slightly declined and currently ranging around 1.6875. Today at 8.10AM (GMT) MPC member Jon Cunliffe at the Barclays European Bank Capital summit. At 12.30AM (GMT) the U.S. Retail sales will be released and might create some trading opportunities. Do not forget that tomorrow big data from U.K. labor market are expected so we might see already some movement connected with speculations before the actual data. Today GBP/USD has a support of 1.6820 and a resistance of 1.6920.
The USD/JPY pair increased to its one week high touching 102.30 level. The price increase as the U.S. Dollar strengthening before the actual release of U.S. retail sales today. However, the same bullish pattern we can see on others peers of Yen which means that investors weighting the situation in Ukraine. Also the U.S. stock performed really well which makes the safe-haven assets less wanted. Tomorrow night we should pay attention to Japanese GDP data. Today USD/JPY has support of 101.85 and resistance of 102.45.
May 13, 2014 – Forex News
Hot Asset For Today: EUR/USD
The EUR/USD pair started to range in a very narrow channel just between 1.3743 and 1.3773. Partially the lack of movement was due to no economic releases and partially because of waiting for today’s data. Today at 9.00AM (GMT) the German ZEW Economic sentiment will be released. From the past results we can see a declining trend which is expected to continue. That might push the pair more down. At 12.30PM (GMT) the U.S. Retail Sales is coming out and is expected to show 0.5% increase. The movement has remained sideways so we should watch support and resistance for possible break outs. Today EUR/USD has support of 1.3740 and resistance of 1.3775.
The GBP/USD pair corrected its previous drop yesterday and climbed back to 1.6900. However, after reaching that level the price reversed and slightly declined and currently ranging around 1.6875. Today at 8.10AM (GMT) MPC member Jon Cunliffe at the Barclays European Bank Capital summit. At 12.30AM (GMT) the U.S. Retail sales will be released and might create some trading opportunities. Do not forget that tomorrow big data from U.K. labor market are expected so we might see already some movement connected with speculations before the actual data. Today GBP/USD has a support of 1.6820 and a resistance of 1.6920.
The USD/JPY pair increased to its one week high touching 102.30 level. The price increase as the U.S. Dollar strengthening before the actual release of U.S. retail sales today. However, the same bullish pattern we can see on others peers of Yen which means that investors weighting the situation in Ukraine. Also the U.S. stock performed really well which makes the safe-haven assets less wanted. Tomorrow night we should pay attention to Japanese GDP data. Today USD/JPY has support of 101.85 and resistance of 102.45.
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