Yesterday the EUR/USD pair decreased to its new 3 month low and almost touched it support at 1.3580. The pair slightly reversed as the U.S. GDP data showed that the output decreased quarterly by 1.0% which is first time since 2008. Despite this disappointing data, the pair did not increase much as Euro is weighted for possible European central bank cuts. Today we should keep an eye on the German Retail Sales data at 6.00AM GMT. Later on, at 12.30PM GMT the U.S. Personal spending will be released and might create some trading opportunities. The movement is sideways. The support is lying at 1.3580 and resistance at 1.3660.
The USD/JPY pair has been under pressure for past 3 days and the same we saw yesterday. As the U.S. data pointed on the slower economic recovery the pair started to move down. The Japanese inflation data showed that there is no need right now for the additional stimulus as expected. That just confirmed the strengthening in Yen. Today we should keep an eye on the American market which releases several economic data with moderate impact. The movement is sideways with support lying at 101.45 and resistance lying at 101.85.
May 30, 2014 – Forex News
Hot Asset For Today: EUR/USD
Yesterday the EUR/USD pair decreased to its new 3 month low and almost touched it support at 1.3580. The pair slightly reversed as the U.S. GDP data showed that the output decreased quarterly by 1.0% which is first time since 2008. Despite this disappointing data, the pair did not increase much as Euro is weighted for possible European central bank cuts. Today we should keep an eye on the German Retail Sales data at 6.00AM GMT. Later on, at 12.30PM GMT the U.S. Personal spending will be released and might create some trading opportunities. The movement is sideways. The support is lying at 1.3580 and resistance at 1.3660.
The USD/JPY pair has been under pressure for past 3 days and the same we saw yesterday. As the U.S. data pointed on the slower economic recovery the pair started to move down. The Japanese inflation data showed that there is no need right now for the additional stimulus as expected. That just confirmed the strengthening in Yen. Today we should keep an eye on the American market which releases several economic data with moderate impact. The movement is sideways with support lying at 101.45 and resistance lying at 101.85.
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