On Thursday, the EUR/USD broke through its resistance and climbed above 1.0800. The pair then reached a second resistance level at 1.0820 but bounced down. The climb was caused by weaker U.S data which threatened the possibility of the interest rate hike. FOMC member, Dennis Lockhart, stated that “Data available for the first quarter of this year have been notably weak, is giving rise to heightened uncertainty about the track the economy is on.”
During the Asian session, the pair slightly declined to 1.0770 ahead of inflation data. Traders should pay attention to the EU CPI data which will be released at 9.00AM (GMT). At 12.30PM (GMT) U.S. CPI will come out. The trend is sideways. Support is found at 1.0620 and resistance at 1.0820.
Yesterday, the GBP/USD continued to trade with bullish sentiment and climbed to 1.4970. The pair moved up as FOMC member, Dennis Lockhart, gave a dovish speech regarding the interest rate hike which negatively affected the dollar.
The pair could continue to climb towards 1.5000 during the European session as U.K. labour data will be released. At 8.30AM (GMT) the U.K. Claimant Count Change and Unemployment Rate will come out and are both expected to be strong. At 12.30PM (GMT) pay attention to the U.S. CPI data release. Finally, at 2PM (GMT) the UoM Consumer Sentiment will be published. The trend is sideways. Support line is found at 1.4880 and resistance at 1.4980.
April 17, 2015 – Forex News
Hot asset for today: GBP
EUR/USD
On Thursday, the EUR/USD broke through its resistance and climbed above 1.0800. The pair then reached a second resistance level at 1.0820 but bounced down. The climb was caused by weaker U.S data which threatened the possibility of the interest rate hike. FOMC member, Dennis Lockhart, stated that “Data available for the first quarter of this year have been notably weak, is giving rise to heightened uncertainty about the track the economy is on.”
During the Asian session, the pair slightly declined to 1.0770 ahead of inflation data. Traders should pay attention to the EU CPI data which will be released at 9.00AM (GMT). At 12.30PM (GMT) U.S. CPI will come out. The trend is sideways. Support is found at 1.0620 and resistance at 1.0820.
GBP/USD
Yesterday, the GBP/USD continued to trade with bullish sentiment and climbed to 1.4970. The pair moved up as FOMC member, Dennis Lockhart, gave a dovish speech regarding the interest rate hike which negatively affected the dollar.
The pair could continue to climb towards 1.5000 during the European session as U.K. labour data will be released. At 8.30AM (GMT) the U.K. Claimant Count Change and Unemployment Rate will come out and are both expected to be strong. At 12.30PM (GMT) pay attention to the U.S. CPI data release. Finally, at 2PM (GMT) the UoM Consumer Sentiment will be published. The trend is sideways. Support line is found at 1.4880 and resistance at 1.4980.
Related Posts: