The EUR/USD pair slightly increased yesterday and bounced at its resistance (1.3650)several times. During the Asian session, after the Australian results came out slightly above expectations, the pair jumped up 25 pips as the resistance was broken. We can see some speculation before Janet Yellen (Fed chairman) will speak before U.S. lawmakers today at 3.00PM (GMT). She is considered to be more dovish than Ben Bernanke so the speculation for the U.S. Dollar is quite bearish. At the same time (at 3.00PM GMT) the JOLTS Job Opening will be announced and is expected to show another increase in the number of job openings. The sentiment is now slightly bearish but might change when the American session starts. The support is lying at 1.3605 and resistance at 1.3680.
Yesterday the GBP/USD pair traded sideways in a flat channel between 1.6385 and 1.6435. The pair did not move much due to a lack of economic events on the market. However today we might see better trading opportunities connected with Janet Yallen’s testimony at 3.00PM (GMT). Later on we might see some speculation over tomorrow’s Inflation report from the Bank of England. The movement has remained sideways. The support is lying at 1.6370 and resistance at 1.6440.
The USD/JPY pair reversed its bullish sentiment and decreased from 102.65 to 102.00 during yesterday’s trading hours. However, the sentiment has already changed again and the pair is slightly bullish heading to the 102.40 level. Today we should expect the pair to be driven by the U.S. Dollar and speculation over the testimony. But we should not forget about the Japanese Core Machinery Orders and Tertiary Industry Activity at 11.50PM (GMT). Both pieces of data are predicted to show a negative number which could hurt the Yen and pull the price up. The sentiment is slightly bullish with support at 102.00 and resistance at 102.65.
February 11, 2014 – Forex News
Hot asset for today: EUR/USD
The EUR/USD pair slightly increased yesterday and bounced at its resistance (1.3650)several times. During the Asian session, after the Australian results came out slightly above expectations, the pair jumped up 25 pips as the resistance was broken. We can see some speculation before Janet Yellen (Fed chairman) will speak before U.S. lawmakers today at 3.00PM (GMT). She is considered to be more dovish than Ben Bernanke so the speculation for the U.S. Dollar is quite bearish. At the same time (at 3.00PM GMT) the JOLTS Job Opening will be announced and is expected to show another increase in the number of job openings. The sentiment is now slightly bearish but might change when the American session starts. The support is lying at 1.3605 and resistance at 1.3680.
Yesterday the GBP/USD pair traded sideways in a flat channel between 1.6385 and 1.6435. The pair did not move much due to a lack of economic events on the market. However today we might see better trading opportunities connected with Janet Yallen’s testimony at 3.00PM (GMT). Later on we might see some speculation over tomorrow’s Inflation report from the Bank of England. The movement has remained sideways. The support is lying at 1.6370 and resistance at 1.6440.
The USD/JPY pair reversed its bullish sentiment and decreased from 102.65 to 102.00 during yesterday’s trading hours. However, the sentiment has already changed again and the pair is slightly bullish heading to the 102.40 level. Today we should expect the pair to be driven by the U.S. Dollar and speculation over the testimony. But we should not forget about the Japanese Core Machinery Orders and Tertiary Industry Activity at 11.50PM (GMT). Both pieces of data are predicted to show a negative number which could hurt the Yen and pull the price up. The sentiment is slightly bullish with support at 102.00 and resistance at 102.65.
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