As Draghi did not announce a clear plan regarding how to support decreasing inflation, the EUR/USD declined. However, the reaction was not so significant and the pair only dropped to 1.3350. Today traders should watch the U.S. Prelim Nonfarm Productivity which will come out at 12.30pM GMT. The expectation is to see a 1.4% increase and if the figure beats expectations the pair could move lower.
The movement is sideways. Support is found at 1.3300 and resistance at 1.3445.
GBP/USD
During the Asian session, the GBP/USD declined and tested its support. The pair reached as low as 1.6797 where it lost momentum and reversed. The British pound suffered from the economic report which showed U.K home prices increased to a record; Housing prices rose almost 10% within 12 months. There is speculation over a possible bubble and therefore, a slowing market which makes investors cautious.
Today we should watch the U.K. Trade Balance which will come out at 8.30pm (GMT) and to the U.S. Prelim Nonfarm Productivity which will be released at 12.30pm GMT. The trend is sideways. Support is found at 1.6800 and resistance at 1.6890.
August 8, 2014 – Forex News
EUR/USD
As Draghi did not announce a clear plan regarding how to support decreasing inflation, the EUR/USD declined. However, the reaction was not so significant and the pair only dropped to 1.3350. Today traders should watch the U.S. Prelim Nonfarm Productivity which will come out at 12.30pM GMT. The expectation is to see a 1.4% increase and if the figure beats expectations the pair could move lower.
The movement is sideways. Support is found at 1.3300 and resistance at 1.3445.
GBP/USD
During the Asian session, the GBP/USD declined and tested its support. The pair reached as low as 1.6797 where it lost momentum and reversed. The British pound suffered from the economic report which showed U.K home prices increased to a record; Housing prices rose almost 10% within 12 months. There is speculation over a possible bubble and therefore, a slowing market which makes investors cautious.
Today we should watch the U.K. Trade Balance which will come out at 8.30pm (GMT) and to the U.S. Prelim Nonfarm Productivity which will be released at 12.30pm GMT. The trend is sideways. Support is found at 1.6800 and resistance at 1.6890.
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