On Wednesday, the EUR/USD ranged in a narrow channel between 1.1275 and 1.1350. Traders were closely watching a meeting between the Greek Finance Minister, Yanis Varoufakis, and other Euro zone finance ministers. The German Finance Minister, Wolfgang Schaeuble, was negative over a possible deal. However, when asked if Greece would exit the Eurozone, Varoufakis responded with “Absolutely not”. Later in the session, it was announced no deal was made but there will be another attempt on Monday. In addition, the Head of France, Germany, Russia and Ukraine began peace talks in Belarus.
Today keep an eye on US Retail Sales data which will be released at 1.30PM (GMT). The trend is sideways. Support is found at 1.1270 and resistance at 1.1400.
Yesterday, the GBP/USD climbed towards its resistance at 1.5305. However, the pair then lost momentum and reversed back down to its current level of 1.5220. High volatility was caused by the upcoming British elections which are scheduled for May 7. According to Goldman Sachs, the outcome is the least certain in 100 years.
Today, traders should pay attention to the U.K. Inflation Report and a speech from Mark Carney, the Governor of the Bank of England. At 1.30PM (GMT) U.S. Retail Sales data will be released. The trend is sideways. Support is found at 1.5200 and resistance at 1.5305.
February 12, 2015 – Forex News
Today’s Hot Asset: EUR/USD
EUR/USD
On Wednesday, the EUR/USD ranged in a narrow channel between 1.1275 and 1.1350. Traders were closely watching a meeting between the Greek Finance Minister, Yanis Varoufakis, and other Euro zone finance ministers. The German Finance Minister, Wolfgang Schaeuble, was negative over a possible deal. However, when asked if Greece would exit the Eurozone, Varoufakis responded with “Absolutely not”. Later in the session, it was announced no deal was made but there will be another attempt on Monday. In addition, the Head of France, Germany, Russia and Ukraine began peace talks in Belarus.
Today keep an eye on US Retail Sales data which will be released at 1.30PM (GMT). The trend is sideways. Support is found at 1.1270 and resistance at 1.1400.
GBP/USD
Yesterday, the GBP/USD climbed towards its resistance at 1.5305. However, the pair then lost momentum and reversed back down to its current level of 1.5220. High volatility was caused by the upcoming British elections which are scheduled for May 7. According to Goldman Sachs, the outcome is the least certain in 100 years.
Today, traders should pay attention to the U.K. Inflation Report and a speech from Mark Carney, the Governor of the Bank of England. At 1.30PM (GMT) U.S. Retail Sales data will be released. The trend is sideways. Support is found at 1.5200 and resistance at 1.5305.
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