EURUSD rose yesterday and closed at 1.2933. The President of the European Central Bank Mario Draghi stated that the Eurozone is more stable than the last year, but most of the economic conditions still remain challenging. He also urged the governments to make efforts via reforms and banking unions in order to stabilize further the economic system. On the other side of the ocean the Unemployment Claims in the United States dropped to a reading of 340K. The New Home Sales increased to 454K in April. Support for the EURUSD is seen at 1.2903 and resistance is seen at 1.2990. The HotForex Traders Board shows that 56 percent of the traders are short on the EURUSD.
GBPUSD
The Cable rose yesterday and closed at 1.5106. The Gross Domestic Product in the United Kingdom rose 0.3 percent in first quarter of 2013. On the other hand the Preliminary Business Investment in the UK recorded a drop of 0.4 percent in the first quarter of 2013. Support for the GBPUSD is seen at 1.5020 and resistance is seen at 1.5126. The HotForex Traders Board shows that 68 percent of the traders are long on the GBPUSD.
EURUSD continues its upside move as risk appetite on the market improved
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