On Tuesday, the EUR/USD broke its support again and moved down to 1.3405. The pair reacted to German benchmark yields which fell after the EU and U.S. increased sanctions against Russia. The sentiment continued today and at the beginning of the European session the pair dropped further and might test the 1.3400 level very soon. The price could reach a new 6 month low when the German CPI is released as it is expected to show low inflation. Volatility should increase at 12.15pm GMT when the U.S. ADP Non- farm Employment data will come out. Traders should also watch the FOMC Statement at 6pm GMT.
The movement is slightly bearish. Support is found at 1.3400 and resistance at 1.3500.
GBP/USD
The GBP/USD declined yesterday and fell to 1.6930 – a one month low. The pair reacted to speculation ahead of the FOMC statement which caused the Dollar to strengthen. Today, traders should watch pre NFP data which will be released at 12.15pm GMT and U.S. GDP data which is coming out at 2.00PM GMT.
The trend is sideways. Support is found at 1.6925 and resistance at 1.7000.
July 30, 2014 – Forex News
EUR/USD
On Tuesday, the EUR/USD broke its support again and moved down to 1.3405. The pair reacted to German benchmark yields which fell after the EU and U.S. increased sanctions against Russia. The sentiment continued today and at the beginning of the European session the pair dropped further and might test the 1.3400 level very soon. The price could reach a new 6 month low when the German CPI is released as it is expected to show low inflation. Volatility should increase at 12.15pm GMT when the U.S. ADP Non- farm Employment data will come out. Traders should also watch the FOMC Statement at 6pm GMT.
The movement is slightly bearish. Support is found at 1.3400 and resistance at 1.3500.
GBP/USD
The GBP/USD declined yesterday and fell to 1.6930 – a one month low. The pair reacted to speculation ahead of the FOMC statement which caused the Dollar to strengthen. Today, traders should watch pre NFP data which will be released at 12.15pm GMT and U.S. GDP data which is coming out at 2.00PM GMT.
The trend is sideways. Support is found at 1.6925 and resistance at 1.7000.
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