On Friday, the EUR/USD pair slightly increased to the 1.2970 area despite positive U.S. data. The pair did not reacted on the new wave of sanction which EU posted against Russia. That might suggest that market does not expect any action from Russia. However, that expectation may appear to be wrong and in that case, the pair can drop sharply. Today, we should pay attention to the Empire State Manufacturing Index which will be released at 12.30PM (GMT). At 1.15PM (GMT) the U.S. Industrial Production rate will come out and should increase the volatility on the pair. The expectations are to see 0.4% increase and if the reading will show stronger result the U.S. Dollar should appreciate accordingly. The movement is sideways. The support is found at 1.2885 and resistance at 1.2980.
The GBP/USD has continued the sideways movement on Friday and remained between 1.6200 and 1.6275 levels. This week, because of the Scottish Independence Vote, the pair might not react so much on the economic events but just wait for the actual result of the vote. We expect a huge effect on the pair at the time of the release on Thursday. Meantime, we should keep an eye on support and resistance and place trades on their breakouts. The trend is sideways. The support is found at 1.6200 and resistance at 1.6275.
September 15, 2015 – Forex News
Hot asset for today: GBP/USD
On Friday, the EUR/USD pair slightly increased to the 1.2970 area despite positive U.S. data. The pair did not reacted on the new wave of sanction which EU posted against Russia. That might suggest that market does not expect any action from Russia. However, that expectation may appear to be wrong and in that case, the pair can drop sharply. Today, we should pay attention to the Empire State Manufacturing Index which will be released at 12.30PM (GMT). At 1.15PM (GMT) the U.S. Industrial Production rate will come out and should increase the volatility on the pair. The expectations are to see 0.4% increase and if the reading will show stronger result the U.S. Dollar should appreciate accordingly. The movement is sideways. The support is found at 1.2885 and resistance at 1.2980.
The GBP/USD has continued the sideways movement on Friday and remained between 1.6200 and 1.6275 levels. This week, because of the Scottish Independence Vote, the pair might not react so much on the economic events but just wait for the actual result of the vote. We expect a huge effect on the pair at the time of the release on Thursday. Meantime, we should keep an eye on support and resistance and place trades on their breakouts. The trend is sideways. The support is found at 1.6200 and resistance at 1.6275.
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