Yesterday, the EUR/USD pair remained low and traded between 1.2165 and 1.2220. The pair dropped on the back of strong U.S. Final GDP data which showed a very impressive increase of 5%, higher than the expected 4.3%. The pair traded choppy as volatility dropped due to Christmas holidays.
During the Asian session, the price climbed and is currently testing 1.2240. Low volatility is now expected as the markets are closed. If looking for trading opportunities, we recommend trading with long-term expiries based on bearish expectations for next year. The movement is slightly sideways. Support is found at 1.2265 and resistance at 1.2240.
Yesterday, the GBP/USD corrected slightly from Tuesday’s drop when the pair dropped to its lowest price since September 2013, below 1.5500. The fall was caused by strong U.S. GDP data which appreciated the dollar. The pair is currently trading around 1.5550. As the outlook for next year seems to be in favour of the greenback, we could see the pair drop back to 1.5000 during the first half of 2015.
Today, movement should be minimal as most markets will be closed for holidays. The movement is sideways. Support is found at 1.5485 and resistance at 1.5575.
December 25, 2014 – Forex News
Hot asset for today: EUR/USD
EUR/USD
Yesterday, the EUR/USD pair remained low and traded between 1.2165 and 1.2220. The pair dropped on the back of strong U.S. Final GDP data which showed a very impressive increase of 5%, higher than the expected 4.3%. The pair traded choppy as volatility dropped due to Christmas holidays.
During the Asian session, the price climbed and is currently testing 1.2240. Low volatility is now expected as the markets are closed. If looking for trading opportunities, we recommend trading with long-term expiries based on bearish expectations for next year. The movement is slightly sideways. Support is found at 1.2265 and resistance at 1.2240.
GBP/USD
Yesterday, the GBP/USD corrected slightly from Tuesday’s drop when the pair dropped to its lowest price since September 2013, below 1.5500. The fall was caused by strong U.S. GDP data which appreciated the dollar. The pair is currently trading around 1.5550. As the outlook for next year seems to be in favour of the greenback, we could see the pair drop back to 1.5000 during the first half of 2015.
Today, movement should be minimal as most markets will be closed for holidays. The movement is sideways. Support is found at 1.5485 and resistance at 1.5575.
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