On Monday, the EUR/USD slightly rebounded, however, movement remained sideways. Volatility was low and the pair traded between 1.3425 and 1.3445 throughout the day. Pending Home Sales data from the U.S. did little to the pair as it seems investors are already speculating over data being reported later in the week. Today, the CB Consumer Confidence will be released at 2pm GMT. In previous months we saw a clear uptrend of financial confidence in the U.S. and if today’s data follows suit, the pair should move lower.
The movement is sideways. Support is found at 1.3420 and resistance at 1.3500.
GBP/USD
The GBP/USD pair tested its resistance yesterday at 1.7000. However, with falling momentum, the pair declined and the pair dropped and started to move sideways. Today, higher volatility is expected when U.S. data is released. In addition to the CB Consumer confidence, we should also pay attention to the S&P/CS Composite-20 HPI which will be posted at 1PM GMT.
The trend is sideways. Support is found at 1.6960 and resistance at 1.7000.
July 29, 2014 – Forex News
Hot asset for today: EUR/USD
EUR/USD
On Monday, the EUR/USD slightly rebounded, however, movement remained sideways. Volatility was low and the pair traded between 1.3425 and 1.3445 throughout the day. Pending Home Sales data from the U.S. did little to the pair as it seems investors are already speculating over data being reported later in the week. Today, the CB Consumer Confidence will be released at 2pm GMT. In previous months we saw a clear uptrend of financial confidence in the U.S. and if today’s data follows suit, the pair should move lower.
The movement is sideways. Support is found at 1.3420 and resistance at 1.3500.
GBP/USD
The GBP/USD pair tested its resistance yesterday at 1.7000. However, with falling momentum, the pair declined and the pair dropped and started to move sideways. Today, higher volatility is expected when U.S. data is released. In addition to the CB Consumer confidence, we should also pay attention to the S&P/CS Composite-20 HPI which will be posted at 1PM GMT.
The trend is sideways. Support is found at 1.6960 and resistance at 1.7000.
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