During the American session, the EUR/USD climbed slightly and almost reached 1.2500. Despite increasing, the movement is still considered to be choppy as there is no indication of a clear trend. Traders should watch the European Industrial Production data which is predicted to increase by 0.6%. The previous reading showed a very disappointing decline of 1.8%, the lowest figure since November 2012. If the data comes out worse than expected, the pair should move back to 1.2400.
The movement is sideways. Support is found at 1.2360 and resistance is at 1.2500.
On Tuesday, the GBP/USD climbed above 1.5900 and has remained at this level ahead of data later in the day. At 9.30AM (GMT) the U.K. Claimant Count Change will be released together with the Unemployment rate. The Unemployment rate is expected to drop to 5.9% from the previous level of 6.0%. This would be a good sign, however, wage growth has been struggling since the financial crisis in 2008. Volatility is expected at 10.30AM (GMT) when the Bank of England releases the quarterly Inflation report.
The trend is sideways. Support is found at 1.5790 and resistance at 1.5945.
November 12, 2014 – Forex News
Hot asset for today: GBP/USD
EUR/USD
During the American session, the EUR/USD climbed slightly and almost reached 1.2500. Despite increasing, the movement is still considered to be choppy as there is no indication of a clear trend. Traders should watch the European Industrial Production data which is predicted to increase by 0.6%. The previous reading showed a very disappointing decline of 1.8%, the lowest figure since November 2012. If the data comes out worse than expected, the pair should move back to 1.2400.
The movement is sideways. Support is found at 1.2360 and resistance is at 1.2500.
GBP/USD
On Tuesday, the GBP/USD climbed above 1.5900 and has remained at this level ahead of data later in the day. At 9.30AM (GMT) the U.K. Claimant Count Change will be released together with the Unemployment rate. The Unemployment rate is expected to drop to 5.9% from the previous level of 6.0%. This would be a good sign, however, wage growth has been struggling since the financial crisis in 2008. Volatility is expected at 10.30AM (GMT) when the Bank of England releases the quarterly Inflation report.
The trend is sideways. Support is found at 1.5790 and resistance at 1.5945.
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