On Tuesday, the EUR/USD traded with low volatility and slightly increased to 1.0650. However, during the American session, the pair erased 50 pips and returned below 1.0600. We should expect bearish sentiment to continue today before the FOMC Monetary Meeting report is published at 6.00PM (GMT). The report will be followed by a press conference at 6.30PM (GMT). In December, Janet Yellen (the Chairman of the Fed) replaced the phrase “considerable time” with “patient”.
Today, traders are waiting to see the next step and are speculating that the “patient” term will be removed. According to Goldman Sachs, the Fed forecast might be slightly downgraded due to lower energy prices and the stronger Dollar which is hurting exports. The trend is sideways. Support is found at 1.0460 and resistance at 1.0720.
Yesterday, the GBP/USD slightly decreased and returned back to 1.4760. Bearish sentiment could continue as U.K. Claimant Count Change data will be coming out at 9.30AM (GMT). The figure is expected be worse than last month’s reading. On the other hand, the U.K Average Earning Index should increase by 2.2% which is slightly more than the previous increase of 2.1%. At 12.30PM (GMT) the U.K. Annual Budget Release will be published. Today’s main event will occur at 6.00PM (GMT) when the FOMC Meeting Minutes will be published.
The trend is sideways. Support is found at 1.4700 and resistance at 1.5020.
March 18, 2015 – Forex News
Hot asset for today: USD
EUR/USD
On Tuesday, the EUR/USD traded with low volatility and slightly increased to 1.0650. However, during the American session, the pair erased 50 pips and returned below 1.0600. We should expect bearish sentiment to continue today before the FOMC Monetary Meeting report is published at 6.00PM (GMT). The report will be followed by a press conference at 6.30PM (GMT). In December, Janet Yellen (the Chairman of the Fed) replaced the phrase “considerable time” with “patient”.
Today, traders are waiting to see the next step and are speculating that the “patient” term will be removed. According to Goldman Sachs, the Fed forecast might be slightly downgraded due to lower energy prices and the stronger Dollar which is hurting exports. The trend is sideways. Support is found at 1.0460 and resistance at 1.0720.
GBP/USD
Yesterday, the GBP/USD slightly decreased and returned back to 1.4760. Bearish sentiment could continue as U.K. Claimant Count Change data will be coming out at 9.30AM (GMT). The figure is expected be worse than last month’s reading. On the other hand, the U.K Average Earning Index should increase by 2.2% which is slightly more than the previous increase of 2.1%. At 12.30PM (GMT) the U.K. Annual Budget Release will be published. Today’s main event will occur at 6.00PM (GMT) when the FOMC Meeting Minutes will be published.
The trend is sideways. Support is found at 1.4700 and resistance at 1.5020.
Related Posts: