The EUR/USD reacted quite unexpectedly on the disappointing Non-farm payrolls. The price first jumped up as expected on bad data and within 10 minutes started to range. If we look back to Thursday we saw that the actual price in was already made once the pre- Non-farm payrolls data came out and the price jumped up by about 140 pips within 40 minutes. Today the European session started in a bullish mood and the pair is slightly moving up. Due to the fact that today there are no important economic event we might see some price correction later on and lower volatility. The support is lying at 1.3555 and resistance at 1.3675.
On Friday the GBP/USD pair erased the drop from Monday which was caused by disappointing U.K. Manufacturing PMI data and climbed back to 1.6420. The actual release of Friday’s Non-farm payrolls affected the pair more than we saw in the EUR/USD pair due to the fact that the GBP/USD did not price in the speculation before. Today the sentiment slightly changed and ranging around the 1.6400 level. Today we should not expect higher volatility as no important economic event is coming out. The support lying at 1.6260 and resistance at 1.6350.
The USD/JPY pair moved up to its week high as the new week started despite negative figures from Friday’s Non-farm payrolls. The pair is driven mainly by Yen which as a safe-haven asset slightly weakened also because of economic release of Current Account at 11.50PM on Sunday. The Current Account deficit is on its record but still lower than analysts expected. The pair will reflect this week the U.S. testimony which will be announced on Tuesday and Thursday. The sentiment is slightly bullish with support at 101.65 and resistance at 102.65.
February 10, 2014 – Forex News
Hot asset for today: EUR/USD
The EUR/USD reacted quite unexpectedly on the disappointing Non-farm payrolls. The price first jumped up as expected on bad data and within 10 minutes started to range. If we look back to Thursday we saw that the actual price in was already made once the pre- Non-farm payrolls data came out and the price jumped up by about 140 pips within 40 minutes. Today the European session started in a bullish mood and the pair is slightly moving up. Due to the fact that today there are no important economic event we might see some price correction later on and lower volatility. The support is lying at 1.3555 and resistance at 1.3675.
On Friday the GBP/USD pair erased the drop from Monday which was caused by disappointing U.K. Manufacturing PMI data and climbed back to 1.6420. The actual release of Friday’s Non-farm payrolls affected the pair more than we saw in the EUR/USD pair due to the fact that the GBP/USD did not price in the speculation before. Today the sentiment slightly changed and ranging around the 1.6400 level. Today we should not expect higher volatility as no important economic event is coming out. The support lying at 1.6260 and resistance at 1.6350.
The USD/JPY pair moved up to its week high as the new week started despite negative figures from Friday’s Non-farm payrolls. The pair is driven mainly by Yen which as a safe-haven asset slightly weakened also because of economic release of Current Account at 11.50PM on Sunday. The Current Account deficit is on its record but still lower than analysts expected. The pair will reflect this week the U.S. testimony which will be announced on Tuesday and Thursday. The sentiment is slightly bullish with support at 101.65 and resistance at 102.65.
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