On the first day of a week the EUR/USD pair moved sideways without higher volatility. The pair slightly increased to 1.3715 level after 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 release at 1.30PM (GMT). The expected result is 0.7% increase which is less than last result (1.2%). At 3.00PM (GMT) the U.S. Consumer Confidence will be announced. It is generally expected to see slightly better figure than last time that 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 its two days drop from last week when the price decreased from 104.80 to 101.80 and increased to 102.90 level – its 38.20% Fibonacci retracement. On that level lost its momentum and started to move sideways. Today with new economic results from U.S. we might see break out up if the U.S. comes out above expectation. We may see also some speculation before 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 movement down from Friday when the British pound suffered after Carney’s speech. The pair climbed up to current 1.6610 level before U.K. GDP data which will be released at 9.30AM (GMT). The expectation is to see 0.7% increase which might meet the actual figure. For past 3 months we saw very strong data coming out from 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. As well we 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 a week the EUR/USD pair moved sideways without higher volatility. The pair slightly increased to 1.3715 level after 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 release at 1.30PM (GMT). The expected result is 0.7% increase which is less than last result (1.2%). At 3.00PM (GMT) the U.S. Consumer Confidence will be announced. It is generally expected to see slightly better figure than last time that 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 its two days drop from last week when the price decreased from 104.80 to 101.80 and increased to 102.90 level – its 38.20% Fibonacci retracement. On that level lost its momentum and started to move sideways. Today with new economic results from U.S. we might see break out up if the U.S. comes out above expectation. We may see also some speculation before 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 movement down from Friday when the British pound suffered after Carney’s speech. The pair climbed up to current 1.6610 level before U.K. GDP data which will be released at 9.30AM (GMT). The expectation is to see 0.7% increase which might meet the actual figure. For past 3 months we saw very strong data coming out from 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. As well we 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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