On Friday, the EUR/USD continued to trade with bearish sentiment and ended the week near 1.2000. Investors were assessing the potential of new monetary stimulus from the European Central Bank. The pair opened the new week very low and dropped to its lowest level since March 2006 at 1.1860. The negative gap was caused by Germany as they released a statement containing concerns regarding Greece’s future in the Euro-zone. The price has since recovered up to 1.1950 as the German Unemployment Rate declined to 4.7%.
Later today, German CPI data will be released at 1.00PM (GMT). The movement is sideways. Support is found at 1.1860 and resistance at 1.2000.
On Friday, the GBP/USD dropped significantly as U.K. Manufacturing PMI data showed its lowest figure since October. The data cut speculation regarding a strong economic recovery and therefore, the pair fell from 1.5580 to 1.5325. The downwards movement continued as the market re-opened after the weekend and for a short time traded below 1.5200, its lowest price since August 2013. However, the price has since recovered and recovered the negative gap.
Today, a lower than expected U.K Construction PMI index was released. Consequently, we should expect the price to remain low and it is likely bearish sentiment will continue throughout the week. The movement is sideways. Support is found at 1.5180 and resistance at 1.5320.
January 5, 2015 – Forex News
Hot asset for today: EUR/USD
EUR/USD
On Friday, the EUR/USD continued to trade with bearish sentiment and ended the week near 1.2000. Investors were assessing the potential of new monetary stimulus from the European Central Bank. The pair opened the new week very low and dropped to its lowest level since March 2006 at 1.1860. The negative gap was caused by Germany as they released a statement containing concerns regarding Greece’s future in the Euro-zone. The price has since recovered up to 1.1950 as the German Unemployment Rate declined to 4.7%.
Later today, German CPI data will be released at 1.00PM (GMT). The movement is sideways. Support is found at 1.1860 and resistance at 1.2000.
GBP/USD
On Friday, the GBP/USD dropped significantly as U.K. Manufacturing PMI data showed its lowest figure since October. The data cut speculation regarding a strong economic recovery and therefore, the pair fell from 1.5580 to 1.5325. The downwards movement continued as the market re-opened after the weekend and for a short time traded below 1.5200, its lowest price since August 2013. However, the price has since recovered and recovered the negative gap.
Today, a lower than expected U.K Construction PMI index was released. Consequently, we should expect the price to remain low and it is likely bearish sentiment will continue throughout the week. The movement is sideways. Support is found at 1.5180 and resistance at 1.5320.
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