Daily EURUSD & GBPUSD Analysis by HotForex

EURUSD trading lower ahead of the Unemployment Claims data from the United States

EURUSD dropped yesterday and closed at 1.3199. The single European currency advanced in the first part of the day after positive Manufacturing and Services PMI data from Germany and France. The Preliminary Manufacturing Purchasing Managers Index in the Eurozone rose to a reading of 50.1 in July. The Preliminary Services Purchasing Managers Index also rose of 49.6 in July. Looking ahead in the session we have two important releases due from the United States. Investors are focused on the Core Durable Goods Orders month over month and the Unemployment Claims release. Traders should be fully aware of the potential high-impact on the market during the releases. Support for the EURUSD is seen at 1.3161 and resistance is seen at 1.3244. The HotForex Traders Board shows that 60 percent of the traders are short on the EURUSD.

http://blog.hotforex.com/wp-content/uploads/2013/07/EURUSD-25-July-2013.jpg

http://blog.hotforex.com/

EURUSD testing the 1.34 area. Light Economic Calendar for the session ahead.

EURUSD rose yesterday and closed at 1.3333. The pair pushed higher after comments from the Bundesbank which suggested that the ECB low interest rate pledge last month was “not an unconditional commitment”, raising expectations that the ECB’s next move on rates would depend on the medium-term outlook for inflation. The German Central Bank indicated in its montly report that the Eurozone would benefit from the low interest rates set by the European Central Bank. In a release today the German Producer Price Index month over month came out at a reading of -0.1 percent in July. Support for the EURUSD is seen at 1.3313 and resistance is seen at 1.3400. The HotForex Traders Board shows that 79 percent of the traders are short on the EURUSD.

http://blog.hotforex.com/wp-content/uploads/2013/08/EURUSD-20-August-2013.jpg

GBPUSD

The Cable rose yesterday and closed at 1.5645. The Confederation of British Industry forecasted a GDP growth of 1.2 percent in 2013 after better than expected second quarter. For 2014 CBI is forecasting 2.3 percent GDP growth up from the 2.0 percent forecasted in May. Support for the GBPUSD is seen at 1.5606 and resistance is seen at 1.5677. The HotForex Traders shows that 69 percent of the traders are short on the GBPUSD.

http://blog.hotforex.com/wp-content/uploads/2013/08/GBPUSD-20-August-2013.jpg

- See more at: http://blog.hotforex.com/eurusd-testing-the-1-34-area-light-economic-calendar-for-the-session-ahead/#sthash.hIaFDpQ5.dpuf

EURUSD trading higher in the European session. US New Home Sales data on focus today.

EURUSD rose yesterday and closed at 1.3355. The Flash Manufacturing Purchasing Managers Index in the Eurozone rose to a reading of 51.3 in August. The Flash Services PMI in the Eurozone rose to a reading of 51.0 in August. In Germany and France the Flash Manufacturing PMI and Flash Services PMI also recorded a gain in August. On the other side of the ocean the Unemployment Claims in the United States rose to 336K last week. The Flash Manufacturing PMI in the US came up a reading of 53.9 in August. Investors are now awaiting the New Home Sales report due from the United States later today. Support for the EURUSD is seen at 1.3298 and resistance is seen at 1.3407.

http://blog.hotforex.com/wp-content/uploads/2013/08/EURUSD-23-August-2013.jpg

GBPUSD

The Cable dropped yesterday and closed at 1.5588. The Sterling lost strength after the policy member of Bank of England Martin Weale indicated that the UK central bank is ready to announce further asset purchases if the economy shows signs of stalling. In a release today the Second Estimate Gross Domestic Product quarter over quarter came out better than the market expectation at a reading of 0.7 percent. Support for the GBPUSD is seen at 1.5536 and resistance is seen at 1.5650.

http://blog.hotforex.com/wp-content/uploads/2013/08/GBPUSD-23-August-2013.jpg

- See more at: http://blog.hotforex.com/eurusd-trading-higher-in-the-european-session-us-new-home-sales-data-on-focus-today/#sthash.KqvSFDqP.dpuf

EURUSD continues to drift lower driven by the tensions in Syria. GDP and the Unemployment claims data due from the United States.

EURUSD dropped yesterday and closed at 1.339. The M3 Money Supply in the Eurozone rose 2.2 percent on an annual basis in July. The European Central Bank reported that the private loans in the Euro area dropped 1.9 percent on an annual basis in July. The GfK German Consumer Climate dropped to a reading of 6.9 for September. On the other side of the ocean the Pending Home Sales in the United States dropped 1.3 percent month over month in July. The ongoing crisis in Syria keeps supporting the safe heaven United States dollar against the single European currency. Investors are now awaiting the preliminary Gross Domestic Product data and the Unemployment Claims due from the United States. Support for the EURUSD is seen at 1.3259 and resistance is seen at 1.3343. The HotForex Traders Board shows that 51 percent of the traders are long on the EURUSD.

http://blog.hotforex.com/wp-content/uploads/2013/08/EURUSD-29-August-2013.jpg

GBPUSD

The Cable dropped yesterday and closed at 1.5524. The Governor of Bank of England Mark Carney stated the UK central bank is ready to provide further stimulus measures to boost the economy in the region. He also added that the policy makers plan to keep the interest rate at the record low of 0.50 percent for at least 3 years until the unemployment rate in the UK reaches 7 percent. A report showed that the CBI Realized Sales in the UK advanced to a reading of 27 in August. With no domestic releases from the United Kingdom today trading trends on the pair are expected to be determined by the releases from the United States. Support for the GBPUSD is seen at 1.5448 and resistance is seen at 1.5553. The HotForex Traders Board shows that 52 percent of the traders are long on the GBPUSD.

http://blog.hotforex.com/wp-content/uploads/2013/08/GBPUSD-29-August-2013.jpg

- See more at: http://blog.hotforex.com/eurusd-continues-to-drift-lower-driven-by-the-tensions-in-syria-gdp-and-the-unemployment-claims-data-due-from-the-united-states/#sthash.868TLhRD.dpuf

EURUSD continues to trade lower following positive US data. FOMC Member James Bullard speaks later today.

EURUSD dropped yesterday and closed at 1.3239. Data released from the United States indicated that the Unemployment Claims dropped to 331,000 during the last week. Another official data released yesterday showed that grew 2.5 percent in the second quarter of 2013. The Unemployment Rate in Germany remained at 6.8 percent in August. In a release today data showed that the Unemployment Rate in the Eurozone remained at 12.1 percent in July. Support for the EURUSD is seen at 1.3223 and resistance is seen at 1.3305. The HotForex Traders Board shows that 51 percent of the traders are long on the EURUSD.

http://blog.hotforex.com/wp-content/uploads/2013/08/EURUSD-30-August-2013.jpg

GBPUSD

The Cable dropped yesterday and closed at 1.5502. A report released today showed that the GfK Consumer Confidence in the United Kingdom rose to -13 in August. The Nationwide House Price Index came out in line with the market expectation at 0.6 percent in August. The Net Lending to Individuals month over month data released today dropped to 1.3 billion Sterling in July. Support for the GBPUSD is seen at 1.5448 and resistance is seen at 1.5553. The HotForex Traders Board shows that 56 percent of the traders are long on the GBPUSD.

http://blog.hotforex.com/wp-content/uploads/2013/08/GBPUSD-30-August-2013.jpg

- See more at: http://blog.hotforex.com/eurusd-continues-to-trade-lower-following-positive-us-data-fomc-member-james-bullard-speaks-later-today/

EURUSD trading higher in the European session. Light Economic Calendar due to the US Bank Holiday.

EURUSD dropped on Friday and closed at 1.3219. The personal income in the United States dropped 0.1 percent in July. On the other hand the Reuters/Michigan Consumer Sentiment Index rose to a reading of 82.1 in August. In the Eurozone the Consumer Confidence rose to -16 in August. The Retail Sales in Germany dropped 1.4 percent in July. The market keeps reacting to the crisis in Syria and the potential military attack is boosting the demand for the safe-haven dollar. The Manufacturing PMI data released today from several Eurozone countries came out better than the market expectation pushing the pair higher in the European. Due to the US Bank Holiday we don’t expect much movement on the market driven by the news. Investors should be aware that any potential news on the Syrian crisis may bring volatility on the market. Support for the EURUSD is seen at 1.3183 and resistance is seen at 1.3278. The HotForex Traders Board shows that 52 percent of the traders are long on the EURUSD.

http://blog.hotforex.com/wp-content/uploads/2013/09/EURUSD-02-September-2013.jpg

GBPUSD

The Cable dropped on Friday and closed at 1.5500. The Nationwide House Prices in the United Kingdom rose 0.6 percent month over month in August. The Mortgage Approvals rose to a reading of 60.6 in July. In a report today the Manufacturing PMI came out at a reading of 57.2, better than the market expectation of 55.2. Support for the GBPUSD is seen at 1.5464 and resistance is seen at 1.5586. The HotForex Traders Board shows that 57 percent of the traders are short on the GBPUSD.

http://blog.hotforex.com/wp-content/uploads/2013/09/GBPUSD-02-September-2013.jpg

- See more at:http://blog.hotforex.com/eurusd-trading-higher-in-the-european-session-light-economic-calendar-due-to-the-us-bank-holiday/

EURUSD trading flat ahead of the ISM Manufacturing PMI release

EURUSD dropped yesterday and closed at 1.3190. The Manufacturing PMI in the Eurozone rose to two-year high coming at a reading of 51.4 in August. The manufacturing data from Italy and Spain also came out positive. The Producer Price Index data released today came out better than the market expectation showing a 0.3 percent gain in July. Investors are now waiting for the ISM Manufacturing Purchasing Managers Index due to be released from the United States later today. Support for the EURUSD is seen at 1.3167 and resistance is seen at 1.3254. The HotForex Traders Board shows that 59 percent of the traders are long on the EURUSD.

http://blog.hotforex.com/wp-content/uploads/2013/09/EURUSD-03-September-2013.jpg

- See more at: http://blog.hotforex.com/eurusd-trading-flat-ahead-of-the-ism-manufacturing-pmi-release/

EURUSD continues to trade at the lows after positive ISM manufacturing data from the United States

EURUSD dropped yesterday and closed at 1.3169. The ISM Manufacturing Purchasing Managers Index in the United States advanced to a reading of 55.7 in August. A report from the Eurozone showed that the Producer Price Index in the Euro area rose 0.3 percent month over month in July. A report released today indicated that the Retail Sales in the Eurozone rose 0.1 percent in July, less than the market expectation of a 0.5 percent rise. Investors are now focused in the Trade Balance release due from the United States later today. Support for the EURUSD is seen at 1.3149 and resistance is seen at 1.3223. The HotForex Traders Board shows that 57 percent of the traders are long on the EURUSD.

http://blog.hotforex.com/wp-content/uploads/2013/09/EURUSD-04-September-2013.jpg

GBPUSD

The Cable rose yesterday and closed at 1.5558. The Construction Purchasing Managers Index in the United Kingdom rose to a reading of 59.1 in August. Following the positive tone the Services Purchasing Managers Index released today rose to a reading of 60.5 in August sending the pair above the 1.56 level. Support for the GBPUSD is seen at 1.5527 and resistance is seen at 1.5632. The HotForex Traders Board shows that 61 percent of the traders are short on the GBPUSD.

http://blog.hotforex.com/wp-content/uploads/2013/09/GBPUSD-04-September-2013.jpg

- See more at: http://blog.hotforex.com/eurusd-continues-to-trade-at-the-lows-after-positive-ism-manufacturing-data-from-the-united-states/#sthash.c1S5p7R9.dpuf

EURUSD near the lows ahead of the ECB Press Conference and the US Unemployment Claims

EURUSD rose yesterday and closed at 1.3206. The European Central Bank Executive Board Member Joerg Asmussen autioned that the forthcoming stress test, which will be part of a comprehensive assessment of the European banks, will be authorities’ last opportunity to restore confidence in the region’s banking system. The two previous tests failed. The Services PMI data from the Italy, France, Spain, Germany and the Eurzone confirmed that the economy in the EU has started to recover. On the other side of the ocean the trade balance in the United States widened to -39.1B in July. Investors are now focused on the Minimum Bid Rate release due from the Eurozone, the ECB Press Conference and the Unemployment Claims and the ADP Non-Farm Employment Change due from the United States. Investors should be fully aware of the possible high volatility on the market during the time of the releases. Support for the EURUSD is seen at 1.3949 and resistance is seen at 1.3223. The HotForex Traders Board shows that 56 percent of the traders are long on the EURUSD.

http://blog.hotforex.com/wp-content/uploads/2013/09/EURUSD-05-September-2013.jpg

GBPUSD

The Cable rose yesterday and closed at 1.5622. The Services PMI in the United Kingdom rose to a reading of 60.5 in August. In the session ahead we have the MPC Rate Statement, the Official Bank Rate and the Asset Purchase Facility releases due from the United Kingdom. We are expecting high volatility during the time of the releases. Support for the GBPUSD is seen at 1.5553 and resistance is seen at 1.5644. The HotForex Traders Board shows that 59 percent of the traders are short on the GBPUSD.

http://blog.hotforex.com/wp-content/uploads/2013/09/GBPUSD-05-September-2013.jpg

- See more at: www.blog.hotforex.com

EURUSD continue to move higher today. Markets are focused on Fed and Syria.

EURUSD rose on Friday and closed at 1.3177. The US economy added 169K jobs in August, market had expected 180K. Speculations flooded the market that the United States Federal Reserve might delay the plans to taper its asset purchase program in order to support the job market. In the Eurozone the Industrial Production in Germany dropped 1.7 percent month over month in July. Due to the lack of economic releases from the Eurozone and the United States we expect a low volatility session ahead. Support for the EURUSD 1.3155 and resistance is seen at 1.3223.

http://blog.hotforex.com/wp-content/uploads/2013/09/EURUSD-09-September-2013.jpg

GBPUSD

The Cable rose on Friday and closed at 1.5627. Bank of England stated in its quarterly report that stated that its consumer inflation expectation for the next 12 months rose 3.2 percent. The Industrial Production in the UK recorded no gains in July and the Manufacturing Production rose 0.2 percent month over month in July. Support for the GBPUSD is seen at 1.5564 and resistance is seen at 1.5685.

http://blog.hotforex.com/wp-content/uploads/2013/09/GBPUSD-09-September-2013.jpg

- See more at: http://blog.hotforex.com/eurusd-continue-to-move-higher-today-markets-are-focused-on-fed-and-syria/#sthash.9aWtcySx.dpuf

EURUSD continues to trade in a tight range ahead of the FOMC Meeting Minutes.

EURUSD rose yesterday and closed at 1.3358. The ZEW Economic Sentiment in the Eurozone rose to a level of 58.6 in September. In Germany the ZEW Economic Sentiment rose to a reading of 49.6 in September. Investors are now awaiting the FOMC Meeting Minutes due later today. The September taper decision is now just around the corner and the consensus is for 10 billion of taper which is now priced in. Support for the EURUSD is seen at 1.3325 and resistance is seen at 1.3382. The HotForex Traders Board shows that 69 percent of the traders are short on the EURUSD.

- See more at: http://blog.hotforex.com/eurusd-continues-to-trade-in-a-tight-range-ahead-of-the-fomc-meeting-minutes/#sthash.TuSlo9z6.dpuf

EURUSD trading above the 1.35 level as FED kept the size of its bond-buying program. US Unemployment Claims on focus today.

EURUSD rose yesterday and closed at 1.3520. The United States Federal Reserve decided to keep the size of its monthly bond-buying program unchanged at 85 billion dollars. The Chairman of the United States Federal Reserve Ben Bernanke stated that the nation economic conditions has still not shown enough signs of improvement to start cutting the stimulus scheme. However he added that the possibility of the tapering can start later this year if the data is positive. The Building Permits in the United States dropped 3.8 percent month over month in August. Investors are now waiting for the Unemployment Claims release from the United States. Support for the EURUSD is seen at 1.3383 and resistance is seen at 1.3566. The HotForex Traders Board shows that 75 percent of the traders are short on the EURUSD.

GBPUSD

The Cable rose yesterday and closed at 1.6142. The Monetary Policy Committee expected the UK Economy to grow 0.7 percent in the third quarter of 2013. The MPC Members also voted against adding more quantitative easing to the economy. In a release today the Retail Sales month over month in the United Kingdom dropped to a reading of -0.9 percent in August. Trading trends on the pair for the rest of the day are expected to be determined by the releases from the United States. Support for the GBPUSD is seen at 1.5960 and resistance is seen at 1.6149. The HotForex Traders Board shows that 70 percent of the traders are short on the GBPUSD.

- See more at: http://blog.hotforex.com/eurusd-trading-above-the-1-35-level-as-fed-kept-the-size-of-its-bond-buying-program-us-unemployment-claims-on-focus-today/#sthash.psswJP3C.dpuf

EURUSD continues its upside move despite the positive data from the United States

EURUSD rose yesterday and closed at 1.3528. The Initial Jobless Claims came out at 309K during the last week. The market has expected a rise of the Unemployment Claims to 330K. The Philly Fed Manufacturing Index rose to a reading of 22.3. With no important economic releases today we don’t expect high volatility on the market, but investors should be fully aware that any potential comment may bring volatility. Investors are now looking forward for the results of the Elections in Germany. The pre-elections voting polls give Angela Merkel 38 percent of the vote which is not enough to form a government. Most likely we will witness a Grand coalition in the new German Parliament. Support for the EURUSD is seen at 1.3491 and resistance is seen at 1.3566. The HotForex Traders Board shows that 74 percent of the traders are short on the EURUSD.

- See more at: http://blog.hotforex.com/eurusd-continues-its-upside-move-despite-the-positive-data-from-the-united-states/

EURUSD trading lower ahead of the ECB Rate Decision. FED Chairman Ben Bernanke speaks later today.

EURUSD dropped yesterday and closed at 1.3524. The Manufacturing Purchasing Managers Index in the Eurozone dropped to a reading of 51.1 in September in line with the market expectations. Yesterday the US Government faced its first shut down in 17 years as the Republicans and the Democrats failed to agree on President Barack Obama’s healthcare bill. On the economic front the ISM Manufacturing Purchasing Managers Index in the United States rose to a reading of 56.2 in September. Investors are now looking for the ECB Rate Decision and the speech of the Chairman of the United States Federal Reserve Ben Bernanke due later today. Support for the EURUSD is seen at 1.3492 and resistance is seen at 1.3554. The HotForex Traders Board shows that 66 percent of the traders are short on the EURUSD.

GBPUSD

The Cable rose yesterday and closed at 1.6193. The pair rose following the US government crisis. However the losses of the United States dollar were capped later after the Manufacturing Purchasing Managers Index in the United Kingdom dropped to a reading of 56.7 in September. In a release today the Construction Purchasing Managers Index recorded a drop as well coming at a reading of 58.9 in September. Trading trends on the pair for the rest of the day are expected to be determined by the ADP Non-farm Employment Change release due from the United States and the speech of the Chairman of the United States Federal Reserve Ben Bernanke. Support for the GBPUSD is seen at 1.6131 and resistance is seen at 1.6250. The HotForex Traders Board shows that 74 percent of the traders are short on the GBPUSD.

- See more at: http://blog.hotforex.com/eurusd-trading-lower-ahead-of-the-ecb-rate-decision-fed-chairman-ben-bernanke-speaks-later-today/#sthash.p16m4ZlN.dpuf

EURUSD and GBPUSD recorded a sharp drop in the European session. US Non-farm payrolls are not going to be released today.

Both currency pairs recorded a sharp drop in the European session. EURUSD is trading below the 1.36 mark. The biggest loser of the day is the Cable which recorded a drop of over 130 pips in the session today after losing ground yesterday. Most of the market participants expected another push higher today due to the partial US Government shut down and the lack of the NFP release today, but the market has hit the opposite way. We can’t be certain if this is a trend reversal or just an uptrend correction yet. In the economic news the Retail Sales in the Eurozone rose 0.7 percent month in August. In the United States the President Barack Obama in a speech in the Washington blamed House Speaker John Boehner for refusing to allow a vote on a funding bill that would end a three-day government shut down. The Jobless Claims in the United States came out better than the market expectation at a reading of 308K during the last week. In the United Kingdom the Governor of Bank of England Mark Carney stated that the policy makers would not consider raising the interest rates until economic recovery is assured. The Services PMI in the UK dropped to a reading of 60.3 in September.

- See more at: http://blog.hotforex.com/?p=4305&preview=true#sthash.feiq3Erb.dpuf

EURUSD trades higher than its Friday close. Market is focused on the US debt ceiling issue.

EURUSD dropped on Friday and closed at 1.3554. The Producer Price Index in the Eurozone came in at 0.0 percent in August. In the United States the President of the United States Federal Reserve Bank in Mineapolis Narayana Kocherlakota stated that the US central bank has to do whatever it can to bring an improvement in the labor market. Kocherlakota also suggested that the Fed must be willing to continue to use the unconventional monetary policy tools that it has employed in the past few years and possibly provide more stimulus measures to bring down the unemployment rate quickly. In the mean time John Boehner stated that the House cannot pass an increase to the US debt ceiling without packaging it with other provisions.Boehner also added that the country may end up with a default if the President Barack Obama doesn’t negotiate with the Republicans over funding the government or raising the debt ceiling. Support for the EURUSD is seen at 1.3547 and resistance is seen at 1.3628. The HotForex Traders Board shows that 66 percent of the traders are short on the EURUSD.

- See more at: http://blog.hotforex.com/eurusd-trades-higher-than-its-friday-close-market-is-focused-on-the-us-debt-ceiling-issue/#sthash.BehlZWFr.dpuf

EURUSD trading higher after the Eurozone second quarter GBP remained in line with the market expectation.

EURUSD rose yesterday and closed at 1.3580. The United States dollar was pressurized again after the President Barack Obama stated that he would not negotiate with the Republicans over the debt limit and neither would he agree to any conditions placed on increasing the debt ceiling. On the other hand the Final Gross Domestic Product in the Eurozone rose 0.3 percent in line with the market expectations in the second quarter of 2013. Investors are now looking forward for the German Factory Orders Release and any comments from the United States. Support for the EURUSD is seen at 1.3547 and resistance is seen at 1.3628. The HotForex Traders Board shows that 66 percent of the traders are short on the EURUSD.

GBPUSD

The Cable rose yesterday and closed at 1.6094. In a release today the BRC Retail Sales monitor year over year came out at 0.7 percent. Investors are now looking forward for the Manufacturing Production month over month release and the Trade Balance data due from the United Kingdom tomorrow. Support for the GBPUSD is seen at 1.6005 and resistance is seen at 1.6099. The HotForex Traders Board shows that 66 percent of the traders are short on the GBPUSD.

Visit our blog: blog.hotforex.com for a full access to the article - Charts are also available

EURUSD drifting lower ahead of the FOMC Meeting Minutes

EURUSD dropped yesterday and closed at 1.3572. The Trade Balance in Germany rose to 15.6 billion Euro in August. The Factory Orders in the strongest economy in the European Union dropped 0.3 percent on a month basis in August. On the other side of the ocean the President of the United States Federal Reserve in Philadelphia Charles Plosser stated that Fed’s decision of not tapering the size of its asset purchases programme, last month, undermined the central bank’s credibility and reduced the effectiveness of forward guidance as a policy tool. Different media reports released earlier today highlighted that the US President, Barack Obama, was willing to have a broad budget talks with the Republicans and agree to a short term debt limit deal, once lawmakers end the shutdown. Investors are now looking forward for the FOMC Meeting Minutes due later today. Support for the EURUSD is seen at 1.3506 and resistance is seen at 1.3600. The HotForex Traders Board shows that 57 percent of the traders are short on the EURUSD.

GBPUSD

The Cable dropped yesterday and closed at 1.6081. The pair continued to lose ground in the session today and after series of bad data released from the United Kingdom it broke the physiological 1.60 level and its currently trading below it. Investors are now looking forward for the FOMC Meeting Minutes due later today. Support for the GBPUSD is seen at 1.5970 and resistance is seen at 1.6121. The HotForex Traders Board shows that 58 percent of the traders are short on the GBPUSD.

Visit HotForex Blog at blog.hotforex.com for a full access to the article (charts are also available)

EURUSD losing ground as the FOMC Meeting Minutes indicated that FED might start tapering its stimulus package by the end of 2013. Series of high-impact economic release due today.

EURUSD dropped yesterday and closed at 1.3523. The United States dollar strengthened against the single European currency after the latest FOMC Meeting Minutes indicated the willingness of the policymakers to start tapering the size of the bond buying program by the end of 2013. In the Eurozone the Industrial Production in Germany rose 1.4 percent month over month in August. Investors are now looking forward for the speech of the United States Treasury Secretary Jack Lew, the Unemployment Claims release and the speech of the President of the European Central Bank Mario Draghi. Support for the EURUSD is seen at 1.3490 and resistance is seen at 1.3562. The HotForex Traders Board shows that 60 percent of the traders are short on the EURUSD.

GBPUSD

The Cable dropped yesterday and closed at 1.5953. The Industrial Production year over year in the United Kingdom dropped 1.5 percent in August. The NIESR GBP Estimate rose only 0.8 percent during the last 3 months which ended in September. Investors are now looking forward for the MPC Rate Statement, the Official Bank Rate and the Asset Purchase Facility due from the United Kingdom today. Support for the GBPUS is seen at 1.5913 and resistance is seen at 1.6023. The HotForex Traders Board shows that 56 percent of the traders are short on the GBPUSD.

Visit HotForex Blog at blog.hotforex.com for a full access to the article (charts are also available)

EURUSD trading higher after the US Jobless Claims rose unexpectedly last week

EURUSD rose yesterday and closed at 1.3518. The Unemployment Claims in the United States rose a level of 374K during the last week. The President Barack Obama and the Republicans continued their budget talks yesterday. The President of the European Central Bank Mario Draghi stated during his speech that the policy makers were willing to incorporate an easing bias that could explicitly provide for cuts in borrowing costs, should the volatility in money market conditions return to the levels observed in early summer. In his monthly report the ECB indicated that the benchmark interest rates would remain at the current low or even lower levels in the future if needed. Support for the EURUSD is seen at 1.3490 and resistance is seen at 1.3580. The HotForex Traders Board shows that 71 percent of the traders are short on the EURUSD.

- See more at: http://blog.hotforex.com/eurusd-trading-higher-after-the-us-jobless-claims-rose-unexpectedly-last-week/#sthash.DeHmo49M.dpuf

US, Canadian and Japanese bank closed due to bank holidays. Eurogroup Meetings on focus.

EURUSD rose on Friday and closed at 1.3544. On the economic front data release showed that the Consumer Price Index in Germany stood at 0.0 percent month over month in September in line with the market expectations. In the United States a statement from the FOMC Member Jerome Powell pressurized the United States dollar. Power stated that he supported last month decision of FED to refrain from tapering the size of the its monthly bond buying program. Due to the bank holidays in Japan, Canada and the United States there are no important releases due on the Economic Calendar in the session ahead. Support for the EURUSD is seen at 1.3490 and resistance is seen at 1.3580. The HotForex Traders Board shows that 70 percent of the traders are short on the EURUSD.

GBPUSD

The Cable dropped on Friday and closed at 1.5948. The Economic Calendar is flat on releases from the United Kingdom today and due to the bank holiday in the United States trading trends on the pair are likely to be determined by any potential outcome of the Eurogroup Meetings taking place today. Support for the GBPUSD is seen at 1.5913 and resistance is seen at 1.6023. The HotForex Traders Board shows that 63 percent of the traders are short on the GBPUSD.

For full access to the article Visit HotForex Blog at blog.hotforex.com - Charts available too.