The EUR/USD slightly decreased from Friday’s high and is currently trading around 1.2760. As there is no important data being released today, ranging movement is expected to continue. However, pay attention to the German Bundesbank monthly report which will contain all articles, speeches and statistical tables from the past month.
In the longer term, the pair should continue to move downwards. The U.S. Dollar is expected to move upwards and the Euro is expected to weaken if the ECB extend monetary stimulus. The movement is sideways. Support is found at 1.2700 and resistance is at 1.2840.
On Friday, the GBP/USD regained some of its losses. The pair then started to range between 1.6060 and 1.6125 and is now waiting for an important release on Wednesday. The British pound recovered from recent declines due to strong expectations that the U.K. will increase interest rates before the U.S. In August we saw two members of the Bank of England vote in favour of an increase. Mark Carney stated previously that rates are likely to rise months before wages.
The trend is sideways. Support is found at 1.6025 and resistance at 1.6130.
October 20, 2014 – Forex News
Hot asset for today: EUR/USD
EUR/USD
The EUR/USD slightly decreased from Friday’s high and is currently trading around 1.2760. As there is no important data being released today, ranging movement is expected to continue. However, pay attention to the German Bundesbank monthly report which will contain all articles, speeches and statistical tables from the past month.
In the longer term, the pair should continue to move downwards. The U.S. Dollar is expected to move upwards and the Euro is expected to weaken if the ECB extend monetary stimulus. The movement is sideways. Support is found at 1.2700 and resistance is at 1.2840.
GBP/USD
On Friday, the GBP/USD regained some of its losses. The pair then started to range between 1.6060 and 1.6125 and is now waiting for an important release on Wednesday. The British pound recovered from recent declines due to strong expectations that the U.K. will increase interest rates before the U.S. In August we saw two members of the Bank of England vote in favour of an increase. Mark Carney stated previously that rates are likely to rise months before wages.
The trend is sideways. Support is found at 1.6025 and resistance at 1.6130.
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