Yesterday, the EUR/USD settled around 1.3200 and traded in a narrow channel. Despite economic data being released from the EU and U.S., the pair traded with low volatility suggesting that the market is waiting for more information. Today at 12.30PM (GMT) the U.S. Core Durable Goods Orders will be released. As a leading indicator of production, this figure also shows economic strength. The prediction right now is to see a 0.5% increase which is slightly worse than last month. At 2PM (GMT) the CB Consumer Confidence will be posted and should provide more trading opportunities.
The movement is sideways. Support is found at 1.3180 and resistance at 1.3300.
GBP/USD
The GBP/USD slightly recovered from its losses and traded between 1.6565 and 1.6600. The pair is now trading sideways as investors wait for further economic data. The UK market was closed yesterday for a bank holiday but today we should see higher volatility. At 8.30AM (GMT) the U.K. BBA Mortgage Approvals will be released. Usually this data does not greatly affect the currency; however we should be aware of the event just in case. At 12.30PM (GMT) we should keep an eye on the U.S. Core Durable Goods Orders and at 2PM (GMT) we should watch the the CB Consumer Confidence release.
The trend is sideways. Support is found at 1.6530 and resistance at 1.6600.
August 26, 2014 – Forex News
Hot asset for today: EUR/USD
EUR/USD
Yesterday, the EUR/USD settled around 1.3200 and traded in a narrow channel. Despite economic data being released from the EU and U.S., the pair traded with low volatility suggesting that the market is waiting for more information. Today at 12.30PM (GMT) the U.S. Core Durable Goods Orders will be released. As a leading indicator of production, this figure also shows economic strength. The prediction right now is to see a 0.5% increase which is slightly worse than last month. At 2PM (GMT) the CB Consumer Confidence will be posted and should provide more trading opportunities.
The movement is sideways. Support is found at 1.3180 and resistance at 1.3300.
GBP/USD
The GBP/USD slightly recovered from its losses and traded between 1.6565 and 1.6600. The pair is now trading sideways as investors wait for further economic data. The UK market was closed yesterday for a bank holiday but today we should see higher volatility. At 8.30AM (GMT) the U.K. BBA Mortgage Approvals will be released. Usually this data does not greatly affect the currency; however we should be aware of the event just in case. At 12.30PM (GMT) we should keep an eye on the U.S. Core Durable Goods Orders and at 2PM (GMT) we should watch the the CB Consumer Confidence release.
The trend is sideways. Support is found at 1.6530 and resistance at 1.6600.
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