On the first day of the week the EUR/USD pair moved sideways without higher volatility. The pair slightly increased to 1.3715 after the better-than-expected German Ifo Business Climate results but fell afterwards to 1.3650. Today we should pay attention to U.S. Core Durable Goods Orders released at 1.30PM (GMT). The result is expected to show a 0.7% increase which is less than the previous result (1.2%). At 3.00PM (GMT) the U.S. Consumer Confidence will be announced. It is generally expected to see a slightly better figure than last time which would mean improvement of the overall economic activity. The movement remains sideways. The support is lying at 1.3645 and resistance at 1.3740.
The USD/JPY pair reversed from its two day drop last week (the price decreased from 104.80 to 101.80) and increased to 102.90 level – its 38.20% Fibonacci retracement level. On this level it lost its momentum and started to move sideways. Today with new economic results from the U.S. we might see an upwards breakout if the U.S. comes out above expectations. We may see also some speculation before the actual FOMC statement which will be posted tomorrow at 7.00PM (GMT). The sentiment on the market is slightly bullish. The support is lying at 102.20 and resistance at 102.90.
The GBP/USD pair rebounded and almost erased the downwards fall from Friday when the British pound suffered after Carney’s speech. The pair climbed up to the current 1.6610 level before U.K. GDP data which will be released at 9.30AM (GMT). The expectation is to see a 0.7% increase which might meet the actual figure. For the past 3 months we saw very strong data coming out from the U.K. economy and that’s why most traders believe in strong GDP as well. However, later on at 1.30PM (GMT) the U.S. Core Durable Goods Orders will be posted and if the data beats the expectation the sentiment may change. We also need to pay attention to the U.S. CB Consumer Confidence Index at 3.00PM (GMT). The trend is slightly bullish with support at 1.6510 and resistance at 1.6620.
January 28, 2014 – Forex News
Hot asset for today: GBP/USD
On the first day of the week the EUR/USD pair moved sideways without higher volatility. The pair slightly increased to 1.3715 after the better-than-expected German Ifo Business Climate results but fell afterwards to 1.3650. Today we should pay attention to U.S. Core Durable Goods Orders released at 1.30PM (GMT). The result is expected to show a 0.7% increase which is less than the previous result (1.2%). At 3.00PM (GMT) the U.S. Consumer Confidence will be announced. It is generally expected to see a slightly better figure than last time which would mean improvement of the overall economic activity. The movement remains sideways. The support is lying at 1.3645 and resistance at 1.3740.
The USD/JPY pair reversed from its two day drop last week (the price decreased from 104.80 to 101.80) and increased to 102.90 level – its 38.20% Fibonacci retracement level. On this level it lost its momentum and started to move sideways. Today with new economic results from the U.S. we might see an upwards breakout if the U.S. comes out above expectations. We may see also some speculation before the actual FOMC statement which will be posted tomorrow at 7.00PM (GMT). The sentiment on the market is slightly bullish. The support is lying at 102.20 and resistance at 102.90.
The GBP/USD pair rebounded and almost erased the downwards fall from Friday when the British pound suffered after Carney’s speech. The pair climbed up to the current 1.6610 level before U.K. GDP data which will be released at 9.30AM (GMT). The expectation is to see a 0.7% increase which might meet the actual figure. For the past 3 months we saw very strong data coming out from the U.K. economy and that’s why most traders believe in strong GDP as well. However, later on at 1.30PM (GMT) the U.S. Core Durable Goods Orders will be posted and if the data beats the expectation the sentiment may change. We also need to pay attention to the U.S. CB Consumer Confidence Index at 3.00PM (GMT). The trend is slightly bullish with support at 1.6510 and resistance at 1.6620.
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