The EUR/USD is trading sideways despite the fact that most analysts speculated that the European Central Banks report would be dovish. The actual press conference did not provide the market with anything new. Mario Draghi said that the ECB will buy assets over at least two years. He also said, “It’s very understandable that people are Eurosceptical because things are not going well… in some countries, a recession that seems to never end”. Despite this speech, the EUR/USD almost reached 1.2700.
Today, the pair will be driven by the U.S. Non-farm payrolls data which will be released at 12.30PM (GMT). The movement is slightly downwards. Support is found at 1.2570 and resistance is at 1.2700.
On Thursday, the GBP/USD pair broke through its support at 1.6165 and fell all the way to 1.6110. The pair declined despite the U.K. Construction PMI data which showed its highest figure since February exceeding expectations. The bearish movement stopped once the U.S. Factory Orders came out worse-than-expected and the dollar slightly weakened. However, Jobless Claims pointed to stronger labour conditions and therefore we may see a further dip before the actual NFP report.
The trend is sideways. Support is found at 1.6100 and resistance at 1.6250.
October 3, 2014 – Forex News
Hot asset for today: EUR/USD
EUR/USD
The EUR/USD is trading sideways despite the fact that most analysts speculated that the European Central Banks report would be dovish. The actual press conference did not provide the market with anything new. Mario Draghi said that the ECB will buy assets over at least two years. He also said, “It’s very understandable that people are Eurosceptical because things are not going well… in some countries, a recession that seems to never end”. Despite this speech, the EUR/USD almost reached 1.2700.
Today, the pair will be driven by the U.S. Non-farm payrolls data which will be released at 12.30PM (GMT). The movement is slightly downwards. Support is found at 1.2570 and resistance is at 1.2700.
GBP/USD
On Thursday, the GBP/USD pair broke through its support at 1.6165 and fell all the way to 1.6110. The pair declined despite the U.K. Construction PMI data which showed its highest figure since February exceeding expectations. The bearish movement stopped once the U.S. Factory Orders came out worse-than-expected and the dollar slightly weakened. However, Jobless Claims pointed to stronger labour conditions and therefore we may see a further dip before the actual NFP report.
The trend is sideways. Support is found at 1.6100 and resistance at 1.6250.
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