The EUR/USD has been ranging today due to the closure of many European and US markets for Good Friday. Yesterday, the pair climbed earlier as Asian and European Markets digested Fed Chairwoman Janet Yellen’s statements. Later, the pair had dropped again as initial jobless claims and the Philadelphia Fed Manufacturing Index came out better than expected – giving the dollar a good boost. Now, however, we are unlikely to see substantial movement as there will be no data for traders to process. Look for support at 1.3790 and resistance at 1.3865.
The USD/JPY climbed yesterday due to better than expected data from the United States. Further helping the pair rise was worse than expected Tertiary Economic activity data from Japan – which weakened the yen a little. Early this morning, the pair retraced a small amount of these gains. However, now the pair is ranging and today the US market is closed. Furthermore, there is no further data coming from Japan. Thus, any serious movement is unlikely and the pair may range. Look for support at 101.80 and resistance at 102.70.
The GBP/USD pair after reaching the highest price since 2009 reversed and started to fall. Within European session and American session the pair dropped about 60 pips mainly due to stronger U.S. Dollar. Good U.S. data increased positive mood over U.S. outlook after dovish speech of Fed Chairwoman Janet Yellen and made investors to buy greenback. Today as both markets remains closed we should see just technical trading with low volatility. The support is lying at 1.6775 and resistance at 1.6850.
April 18, 2014 – Forex News
Hot Asset For Today: EUR/USD
The EUR/USD has been ranging today due to the closure of many European and US markets for Good Friday. Yesterday, the pair climbed earlier as Asian and European Markets digested Fed Chairwoman Janet Yellen’s statements. Later, the pair had dropped again as initial jobless claims and the Philadelphia Fed Manufacturing Index came out better than expected – giving the dollar a good boost. Now, however, we are unlikely to see substantial movement as there will be no data for traders to process. Look for support at 1.3790 and resistance at 1.3865.
The USD/JPY climbed yesterday due to better than expected data from the United States. Further helping the pair rise was worse than expected Tertiary Economic activity data from Japan – which weakened the yen a little. Early this morning, the pair retraced a small amount of these gains. However, now the pair is ranging and today the US market is closed. Furthermore, there is no further data coming from Japan. Thus, any serious movement is unlikely and the pair may range. Look for support at 101.80 and resistance at 102.70.
The GBP/USD pair after reaching the highest price since 2009 reversed and started to fall. Within European session and American session the pair dropped about 60 pips mainly due to stronger U.S. Dollar. Good U.S. data increased positive mood over U.S. outlook after dovish speech of Fed Chairwoman Janet Yellen and made investors to buy greenback. Today as both markets remains closed we should see just technical trading with low volatility. The support is lying at 1.6775 and resistance at 1.6850.
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