The EUR/USD pair reacted sharply yesterday on the positive U.S. Non-farm payrolls data. The labor market seems to recover after the hard winter and created 288,000 new jobs. What more the Unemployment rate decreased to almost 6 year low. The pair dropped below 1.3600 shortly but finished the trading session slightly above and now ranging in a narrow channel. We should not expect significant movement today as the U.S. market will remains close due to public holidays. The only relevant data which might cause some movement is German Factory Orders. The movement is sideways. The support is lying at 1.3590 and resistance at 1.3700.
The GBP/USD declined after slightly disappointing U.K. Services PMI and right before the U.S. Non-farm payrolls data the pair reached 1.7100. Despite the strong U.S. labor data the pair reversed and started to climb up. That might point on strong bets over U.K. recovery and possible testing the 1.7200 support level soon. Today due to no economic data release we should trade just based on pure technical analysis. The movement is slightly bullish. The support is lying at 1.7115 and resistance at 1.7200.
July 4, 2014 – Forex News
Hot asset for today: EUR/USD
The EUR/USD pair reacted sharply yesterday on the positive U.S. Non-farm payrolls data. The labor market seems to recover after the hard winter and created 288,000 new jobs. What more the Unemployment rate decreased to almost 6 year low. The pair dropped below 1.3600 shortly but finished the trading session slightly above and now ranging in a narrow channel. We should not expect significant movement today as the U.S. market will remains close due to public holidays. The only relevant data which might cause some movement is German Factory Orders. The movement is sideways. The support is lying at 1.3590 and resistance at 1.3700.
The GBP/USD declined after slightly disappointing U.K. Services PMI and right before the U.S. Non-farm payrolls data the pair reached 1.7100. Despite the strong U.S. labor data the pair reversed and started to climb up. That might point on strong bets over U.K. recovery and possible testing the 1.7200 support level soon. Today due to no economic data release we should trade just based on pure technical analysis. The movement is slightly bullish. The support is lying at 1.7115 and resistance at 1.7200.
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