EURUSD rose yesterday and closed at 1.3185. The Portuguese President stated over the weekend that the current government would stay in office to keep an international bailout on track. On the other side of the ocean the Existing Home Sales in the United States slipped in June coming out at 5.08M. Due to the lack of economic events in the session ahead we don’t expect much volatility on the market. Support for the EURUSD is seen at 1.3129 and resistance is seen at 1.3205. The HotForex Traders Board shows that 64 percent of the traders are short on the EURUSD.
GBPUSD
The Cable rose yesterday and closed at 1.5352. The Prime Minister of the United Kingdom David Cameron stated that the economy in the UK is improving and may provide scope for the government to reduce taxes. Support for the GBPUSD is seen at 1.5253 and resistance is seen at 1.5380. The HotForex Traders Board shows that 56 percent of the traders are short on the GBPUSD.
EURUSD rose after the political worries in Portugal eased. Light economic calendar in the session ahead.
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