The EUR/USD pair started new week very high above 1.3700 as the U.S. Dollar weakened against most of the peers. The Greenback depreciated due to fears about future tapering. The U.S. market suffers because of the bad weather which slowed the economic recovery. Most investors will now look for any hits about future outlook. Today the U.S. market remains close after the weekend due to public holidays so we might see some technical trading with 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 movement up today and peaked to the highest price since 2009 – to 1.6820. However, the sentiment changed and we might see some price correction. Today we should not expect any higher volatility due to the fact that the U.S. market remains close and the U.K. market does not release any economic news. The trend is now slightly bearish but might change and continue sideways. The support lying at 1.6650 and resistance at 1.6825.
The USD/JPY pair continued its fall on Friday and dipped to 101.30. The pair was driven by U.S. Dollar which depreciated on disappointing U.S. data. However, today we see that the pair erased part of its previous losses and is currently traded around 101.90. The bullish mood is caused by disappointing Japanese GDP which came out earlier today and showed 0.3% increase instead of expected 0.7%. Tomorrow the Japanese Monetary policy statement will be released and we should expect some volatility connected with that 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 new week very high above 1.3700 as the U.S. Dollar weakened against most of the peers. The Greenback depreciated due to fears about future tapering. The U.S. market suffers because of the bad weather which slowed the economic recovery. Most investors will now look for any hits about future outlook. Today the U.S. market remains close after the weekend due to public holidays so we might see some technical trading with 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 movement up today and peaked to the highest price since 2009 – to 1.6820. However, the sentiment changed and we might see some price correction. Today we should not expect any higher volatility due to the fact that the U.S. market remains close and the U.K. market does not release any economic news. The trend is now slightly bearish but might change and continue sideways. The support lying at 1.6650 and resistance at 1.6825.
The USD/JPY pair continued its fall on Friday and dipped to 101.30. The pair was driven by U.S. Dollar which depreciated on disappointing U.S. data. However, today we see that the pair erased part of its previous losses and is currently traded around 101.90. The bullish mood is caused by disappointing Japanese GDP which came out earlier today and showed 0.3% increase instead of expected 0.7%. Tomorrow the Japanese Monetary policy statement will be released and we should expect some volatility connected with that event. The sentiment is slightly bullish. The support is lying at 101.20 and resistance at 102.30.
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