The EUR/USD pair started the new week very high (above 1.3700) as the U.S. Dollar weakened against most of its peers. The Greenback depreciated due to fears about future tapering. The U.S. market is suffering because of the bad weather which has slowed the economic recovery. Most investors will now look for any hits about the future economic outlook. Today the U.S. market will be closed due to public holidays so we might see some technical trading with a lack of volatility. The trend is slightly bearish. The support is lying at 1.3680 and resistance at 1.3740.
On Friday the GBP/USD pair added almost 100 pips as the British Pound strengthened due to optimism on the U.K. market before labour data. The pair continued its upwards movement today and peaked to its highest price since 2009 – to 1.6820. However, the sentiment changed and we might see a price correction. Today we should not expect higher volatility due to the U.S. market being closed and the U.K. market not releasing any economic news. The trend is now slightly bearish but might change and continue sideways. The support is lying at 1.6650 and resistance at 1.6825.
The USD/JPY pair continued to fall on Friday and dipped to 101.30. The pair was driven by the U.S. Dollar which depreciated following disappointing U.S. data. However, today we can see the pair erased part of its previous losses and is currently trading around 101.90. The bullish mood is caused by the disappointing Japanese GDP which came out earlier today and showed a 0.3% increase instead of the expected 0.7%. Tomorrow the Japanese Monetary policy statement will be released and we should expect some volatility connected to this event. The sentiment is slightly bullish. The support is lying at 101.20 and resistance at 102.30.
February 17, 2014 – Forex News
Hot asset for today: GBP/USD
The EUR/USD pair started the new week very high (above 1.3700) as the U.S. Dollar weakened against most of its peers. The Greenback depreciated due to fears about future tapering. The U.S. market is suffering because of the bad weather which has slowed the economic recovery. Most investors will now look for any hits about the future economic outlook. Today the U.S. market will be closed due to public holidays so we might see some technical trading with a lack of volatility. The trend is slightly bearish. The support is lying at 1.3680 and resistance at 1.3740.
On Friday the GBP/USD pair added almost 100 pips as the British Pound strengthened due to optimism on the U.K. market before labour data. The pair continued its upwards movement today and peaked to its highest price since 2009 – to 1.6820. However, the sentiment changed and we might see a price correction. Today we should not expect higher volatility due to the U.S. market being closed and the U.K. market not releasing any economic news. The trend is now slightly bearish but might change and continue sideways. The support is lying at 1.6650 and resistance at 1.6825.
The USD/JPY pair continued to fall on Friday and dipped to 101.30. The pair was driven by the U.S. Dollar which depreciated following disappointing U.S. data. However, today we can see the pair erased part of its previous losses and is currently trading around 101.90. The bullish mood is caused by the disappointing Japanese GDP which came out earlier today and showed a 0.3% increase instead of the expected 0.7%. Tomorrow the Japanese Monetary policy statement will be released and we should expect some volatility connected to this event. The sentiment is slightly bullish. The support is lying at 101.20 and resistance at 102.30.
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