Volatility was low for the EUR/USD at the beginning of the week. The pair was ranging within a 20 pip channel suggesting that traders were waiting for more data to see the direction of the pair. We expect higher volatility today as Spanish and Italian Services PMI’s will be released at 7.15AM (GMT) and 7.45AM (GMT). Retail Sales will also be released by Eurostat at 9am GMT and the prediction is to see a 0.4% increase. We can expect to see strong data as last week’s retail sales from Germany and Consumer Spending from France beat expectations. For the U.S market the U.S. ISM Non-Manufacturing PMI will be posted together with Factory Orders data at 2PM (GMT)
The movement is sideways. Support is found at 1.3350 and resistance at 1.3445.
GBP/USD
The GBP/USD slightly rebounded yesterday and added about 50 pips. The pair recently dropped to 1.6810 – its lowest value since June 11th – due to slightly disappointing data from the U.K. Today, we should pay attention to the U.K. Services PMI which is predicted to be slightly higher than last time. The data will be released at 8.30AM (GMT). The U.S. ISM Non- Manufacturing PMI release should also cause some movement and create some great trading opportunities for binary options.
The trend is sideways. Support is found at 1.6800 and resistance at 1.6900.
August 5, 2014 – Forex News
Hot asset for today: EUR/USD
EUR/USD
Volatility was low for the EUR/USD at the beginning of the week. The pair was ranging within a 20 pip channel suggesting that traders were waiting for more data to see the direction of the pair. We expect higher volatility today as Spanish and Italian Services PMI’s will be released at 7.15AM (GMT) and 7.45AM (GMT). Retail Sales will also be released by Eurostat at 9am GMT and the prediction is to see a 0.4% increase. We can expect to see strong data as last week’s retail sales from Germany and Consumer Spending from France beat expectations. For the U.S market the U.S. ISM Non-Manufacturing PMI will be posted together with Factory Orders data at 2PM (GMT)
The movement is sideways. Support is found at 1.3350 and resistance at 1.3445.
GBP/USD
The GBP/USD slightly rebounded yesterday and added about 50 pips. The pair recently dropped to 1.6810 – its lowest value since June 11th – due to slightly disappointing data from the U.K. Today, we should pay attention to the U.K. Services PMI which is predicted to be slightly higher than last time. The data will be released at 8.30AM (GMT). The U.S. ISM Non- Manufacturing PMI release should also cause some movement and create some great trading opportunities for binary options.
The trend is sideways. Support is found at 1.6800 and resistance at 1.6900.
Related Posts: