Yesterday, the EUR/USD fell below 1.3360, confirming the wider channel the pair has been trading within for the past 5 days. The pair reacted to the stronger U.S. Dollar which has been benefitting from positive speculation ahead of tomorrow’s report. Today at 12.30PM (GMT) the U.S. CPI index will be released and might cause the pair to erase some of its previous profits. The prediction is to see an increase of 0.1% which would be the slowest change since March. As stated by the Federal Reserve Bank chief, Narayana Kocherlakota, this could increase fears over low inflation as the annual inflation is not expected to reach the 2% target.
The movement is sideways. Support is found at 1.3330 and resistance at 1.3445.
GBP/USD
At the beginning of the week the GBP/USD traded choppy within a narrow channel. The pair has been trading in a range between 1.6710 and 1.6735 which is just 25 pips. Investors are waiting for today’s inflation data which will be released from both countries. At 8.30AM (GMT) the U.K. CPI will be released and is expected to increase by 1.8% (annual data). At 12.30PM (GMT) the U.S. CPI will be posted and is predicted to show a 0.1% increase (monthly data). Due to the importance of this data we should see high volatility on the market and there should be some great trading opportunities.
The trend is sideways. Support is found at 1.6700 and resistance at 1.6760.
August 19, 2014 – Forex News
Hot asset for today: EUR/USD
EUR/USD
Yesterday, the EUR/USD fell below 1.3360, confirming the wider channel the pair has been trading within for the past 5 days. The pair reacted to the stronger U.S. Dollar which has been benefitting from positive speculation ahead of tomorrow’s report. Today at 12.30PM (GMT) the U.S. CPI index will be released and might cause the pair to erase some of its previous profits. The prediction is to see an increase of 0.1% which would be the slowest change since March. As stated by the Federal Reserve Bank chief, Narayana Kocherlakota, this could increase fears over low inflation as the annual inflation is not expected to reach the 2% target.
The movement is sideways. Support is found at 1.3330 and resistance at 1.3445.
GBP/USD
At the beginning of the week the GBP/USD traded choppy within a narrow channel. The pair has been trading in a range between 1.6710 and 1.6735 which is just 25 pips. Investors are waiting for today’s inflation data which will be released from both countries. At 8.30AM (GMT) the U.K. CPI will be released and is expected to increase by 1.8% (annual data). At 12.30PM (GMT) the U.S. CPI will be posted and is predicted to show a 0.1% increase (monthly data). Due to the importance of this data we should see high volatility on the market and there should be some great trading opportunities.
The trend is sideways. Support is found at 1.6700 and resistance at 1.6760.
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