The EUR/USD pair broke its support yesterday after the American session started. The pair was driven by expectation that Fed will continue scaling back its monetary stimulus. At 7.00PM (GMT) when the statement was released the investors confirmed the widely expected fact that Fed reduce the stimulus by $10 billion/month to $65 billion/month. The pair did not react much and just slightly decreased. That means that this news was already priced in. Today we should watch the German Unemployment Change at 8.55AM (GMT) but more we should be concern about U.S. GDP release at 1.30PM (GMT). If the data comes out better than expected the pair might fell below 1.3600.The sentiment is slightly bearish. The support is lying at 1.3580 and resistance at 1.3685.
The USD/JPY pair fell yesterday despite the strengthening of U.S. Dollar before the actual FOMC statement. Yen benefited from the softer demand for risky assets and pushed the pair down from 103.35 to 101.90. This weakening of the pair is expected to be just short-term but on a longer-term prospective the analysts see the pair back up. The pair then slightly corrected its fall but returned just to 102.45 area. Today the pair will be affected by the U.S. GDP at 1.30PM (GMT). Traders should also closely watch the Japanese CPI index which will be released at 11.30PM (GMT). The support is lying at 101.90 and resistance at 103.55.
The GBP/USD pair declined from 1.6600 to 1.6550 area during yesterday’s American session. The pair was reacted on the strengthening Greenback but did not manage to slide all the way to its support at 1.6510. The actual release of Fed was widely expected and already priced in. Today with new U.S. data we might see finally the pair breaking through the support in case of strong U.S. GDP data. The movement is sideways with support at 1.6510 and resistance at 1.6620.
January 30, 2014 – Forex News
Hot asset for today: EUR/USD
The EUR/USD pair broke its support yesterday after the American session started. The pair was driven by expectation that Fed will continue scaling back its monetary stimulus. At 7.00PM (GMT) when the statement was released the investors confirmed the widely expected fact that Fed reduce the stimulus by $10 billion/month to $65 billion/month. The pair did not react much and just slightly decreased. That means that this news was already priced in. Today we should watch the German Unemployment Change at 8.55AM (GMT) but more we should be concern about U.S. GDP release at 1.30PM (GMT). If the data comes out better than expected the pair might fell below 1.3600.The sentiment is slightly bearish. The support is lying at 1.3580 and resistance at 1.3685.
The USD/JPY pair fell yesterday despite the strengthening of U.S. Dollar before the actual FOMC statement. Yen benefited from the softer demand for risky assets and pushed the pair down from 103.35 to 101.90. This weakening of the pair is expected to be just short-term but on a longer-term prospective the analysts see the pair back up. The pair then slightly corrected its fall but returned just to 102.45 area. Today the pair will be affected by the U.S. GDP at 1.30PM (GMT). Traders should also closely watch the Japanese CPI index which will be released at 11.30PM (GMT). The support is lying at 101.90 and resistance at 103.55.
The GBP/USD pair declined from 1.6600 to 1.6550 area during yesterday’s American session. The pair was reacted on the strengthening Greenback but did not manage to slide all the way to its support at 1.6510. The actual release of Fed was widely expected and already priced in. Today with new U.S. data we might see finally the pair breaking through the support in case of strong U.S. GDP data. The movement is sideways with support at 1.6510 and resistance at 1.6620.
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