EURUSD rose yesterday and closed at 1.3050. The German Ifo Business Climate dropped to 104.4 in April. The Vice President of the European Central Bank Vitor Constancio stated that policy makers are ready to provide more stimulus if data keep suggesting that the Eurozone economy is struggling to emerge from recession. On the other side of the ocean the Core Durable Goods Orders month over month in the United States dropped 1.4 percent in March. Trading trends on the pair today are expected to be determined by the Unemployment Claims release due from the United States. Support for the EURUSD is seen at 1.2979 and resistance is seen at 1.3069. The HotForex Traders Board shows that 61 percent of the traders are short on the EURUSD.
GBPUSD
The Cable rose yesterday and closed at 1.5264. The BBA Mortgage Approvals in the United Kingdom rose to 31.2K in March. The CBI Realized Sales dropped to a reading of -1 in April. The Preliminary Gross Domestic Product data released today surprised the markets coming better than expected at a reading of 0.3 percent. After the release the pair jumped 100 pips and its currently trading above the 1.54 mark. Support for the GBPUSD is seen at 1.5288 and resistance is seen at 1.5445. The HotForex Traders Board shows that 53 percent of the traders are short on the GBPUSD.
EURUSD heads towards the 1.31 level. US Unemployment Claims on focus of the investors today.
No comments:
Post a Comment