Daily EURUSD & GBPUSD Analysis by HotForex

[HotForex]

EURUSD trading lower in the European session. ECOFIN Meetings taking place today.

 

EURUSD rose yesterday and closed at 1.3560. The Industrial Production in the Eurozone rose 1.0 percent month over month in August. The Prime Minister of Ireland Enda Kenny stated that the country would exit the bailout program run by the international creditors and the European Union on 15th of December. In a release today the German ZEW Economic Sentiment came out better than the market expectation at a reading of 52.8. Support for the EURUSD is seen at 1.3490 and resistance is seen at 1.3580. The HotForex Traders Board shows that 60 percent of the traders are short on the EURUSD.

 

 

GBPUSD

 

The Cable rose yesterday and closed at 1.5980. A release today showed that the Consumer Price Index year over year rose 2.7 percent in September, better than the market expectation of 2.6 percent rise. Support for the GBPUSD is seen at 1.5913 and resistance is seen at 1.6023. The HotForex Traders Board shows that 61 percent of the traders are short on the GBPUSD.

[HotForex]

EURUSD pushing higher in the European session. ECB President Mario Draghi speaks today.

EURUSD dropped yesterday and closed at 1.3522. The Fitch ratings agency placed the AAA credit rating of the United States on rating watch with negative outlook. The President of the United States Federal Reserve in Dallas Richard Fisher stated that FED might not scale back its bond-buying program at its policy meeting at the end of October. Fisher also added that the economic data from the United States in the next couple of months might be a bit sloppy due to the partial government shutdown. Investors are now looking forward for the speech of the President of the European Central Bank Mario Draghi due later today. Any potential comments about the US debt situation might bring irregular volatility on the market. Support for the EURUSD is seen at 1.3490 and resistance is seen at 1.3580. The HotForex Traders Board shows that 65 percent of the traders are short on the EURUSD.

 

 

 

GBPUSD

 

The Cable rose yesterday and closed at 1.5966. The Consumer Price Index in the United Kingdom rose 0.4 percent month over month in September. The Claimant Count Change released today from the United Kingdom came out better than the market expectation at a reading of -41.7K. The Unemployment Rate in the UK remained in line with the market expectation at 7.7 percent. Support for the GBPUSD is seen at 1.5913 and resistance is seen at 1.6023. The HotForex Traders Board shows that 68 percent of the traders are short on the GBPUSD.

 

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[HotForex]

EURUSD trading higher after the Chinese rating agency Dagong downgraded the US sovereign debt.

 

EURUSD rose yesterday and closed at 1.3531. During his speech yesterday the president of the European Central Bank Mario Draghi stated that the economy in the Eurozone is subdued and uneven and it will stay this way for a while. He also mentioned the possibility for the ECB to cut its benchmark interest rate to assist the growth in the union if needed. Yesterday the United States Senate voted to halt the government shutdown and to raise the US debt limit preventing the largest economy in the world from a potential default. Investors are now looking forward for the Unemployment Claims release due from the United States today. Support for the EURUSD is seen at 1.3552 and resistance is seen at 1.3650. The HotForex Traders Board shows that 77 percent of the traders are short on the EURUSD.

 

 

 

GBPUSD

 

The Cable dropped yesterday and closed at 1.5947. The jobless claims in the United Kingdom dropped by 41.7K in September surprising the market. On the other hand the Unemployment Rate remained at 7.7 percent for the three months ending in August. In a release today data showed that the UK Retail Sales recorded a gain of 0.6 percent in September. Support for the GBPUSD is seen at 1.6015 and resistance is seen at 1.6120. The HotForex Traders Board shows that 70 percent of the traders are short on the GBPUSD.

[HotForex]

EURUSD continues its upside move as FED policy makers are expected to keep the size of the 85 billion bond-buying program.

EURUSD rose yesterday and closed at 1.3683. Officials from the United States Federal Reserve supported the central bank to continue with the size of its bond-buying program for a longer period of time. The President of the United States Federal Reserve in Chicago Charles Evans stated that the central bank should not start tapering the size of its asset purchases, because the data used to gauge the US economy health stopped during the partial government shutdown. On the other hand the President of the Kansas FED Esther George highlighted her support for the Fed to start slowing down the pace of its bond-buying program during the October meeting. The Unemployment Claims in the United States dropped to a level of 358K during the last week. Support for the EURUSD is seen at 1.3590 and resistance is seen at 1.3697. The HotForex Traders Board shows that 77 percent of the traders are short on the EURUSD.

[HotForex]

EURUSD trading lower in the European session. United States Non-farm Payrolls due to be released tomorrow.

EURUSD rose on Friday and closed at 1.3685. The single European currency strengthened against its US counterpart on speculations that the United States Federal Reserve might delay its plans to start cutting its 85 billion USD bond-buying program until March 2014. The United States Non-farm Payrolls data is going to be released tomorrow after 18 days of delay caused by the US Government shutdown. Support for the EURUSD is seen at 1.3615 and resistance is seen at 1.3697. The HotForex Traders Board shows that 76 percent of the traders are short on the EURUSD.

 

 

GBPUSD

 

The Cable rose on Friday and closed at 1.6164. In a report released earlier today the Rightmove House Price Index in the United Kingdom rose 2.8 percent month over month in October. Support for the GBPUSD is seen at 1.6139 and resistance is seen at 1.6215. The HotForex Traders Board shows that 71 percent of the traders are short on the GBPUSD.

 

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[HotForex]

EURUSD trading in a tight range ahead of the US Non-Farm Payrolls report

 

EURUSD dropped yesterday and closed at 1.3680. The President of the United States Federal Reserve in Chicago Charles Evans indicated that the US Central Bank might not begin tapering its 85 billion USD monthly stimulus for months as the Government shutdown has left the economic picture in the largest economy in the world unclear. A report released yesterday showed that the Existing Home Sales in the United States dropped to a level of 5.29 million in September. Following the US Government shutdown the latest Non-Farm Payrolls report was postponed and its now due today. In line with the email sent to all HotForex clients yesterday today’s data is likely to show that the total Non-Farm Payrolls in the United States increased by 180,000 in September. Investors should be fully aware of the potential high volatility on the market before and during the time of the release of the NFP report. Support for the EURUSD is seen at 1.3615 and resistance is seen at 1.3697. The HotForex Traders Board shows that 76 percent of the traders are short on the EURUSD.

 

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[HotForex]

EURUSD trading higher after the poor Non-Farm Payrolls data from the United States

EURUSD rose yesterday and closed at 1.3779. The weak employment data from the United States resumed the speculations that FED might continue with its asses purchase program for longer than expected. The Non-Farm Payrolls report came out at 148K, less than the market expectation of 182K. On the other hand the Unemployment Rate in the largest economy of the world came out at 7.2 percent which is the lowest level since 2008. Support for the EURUSD is seen at 1.3658 and resistance is seen at 1.3793. The HotForex Traders Board shows that 76 percent of the traders are short on the EURUSD.

 

GBPUSD

 

GBPUSD rose yesterday and closed at 1.6233. The Deputy Governor of Bank of England Charlie Bean stated that the economic recovery in the UK is gaining momentum. Investors are now looking forward for the MPC Official Bank Rate Votes and the MPC Asset Purchase Facility Votes due today from the United Kingdom. Support for the GBPUSD is seen at 1.6118 and resistance is seen at 1.6249. The HotForex Traders Board shows that 73 percent of the traders are short on the GBPUSD.

 

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[HotForex]

EURUSD trading higher ahead of the US Trade Balance and Unemployment Claims reports

EURUSD dropped yesterday and closed at 1.3774. The European Central Bank decided to put the top banks in the Eurozone to a rigorous test next year. The President of the ECB Mario Draghi stated that the test of the banks will be an important step forward for the EU and for the future of the Eurozone economy. In the United States the House Price Index rose less than the market expectation recording a 0.3 percent rise month over month in August. The series of PMI releases from the Eurozone released today came out worse than expected. Investors are now looking forward for the Trade Balance data and the Unemployment Claims report due from the United States later today. Support for the EURUSD is seen 1.3658 and resistance is seen at 1.3812. The HotForex Traders Board shows that 77 percent of the traders are short on the EURUSD.

[HotForex]

EURUSD trading lower ahead of the US Core Durable Goods Orders data

 

EURUSD rose yesterday and closed at 1.3800. The United States dollar lost strength after worse than expected Unemployment Claims report. 350K people filed initial jobless claims during the last week. Market had expected a reading of 340K. This combined with the worse than expected Flash Manufacturing Purchasing Index report strengthened the prospect of a longer stimulus measures from the United States Federal Reserve. In the Eurozone the PMI data came out worse than expected across the board. A release today showed that the German Ifo Business Climate dropped to a reading of 107.4 in October. Investors are now looking forward for the Core Durable Goods Orders month over month release due from the United States. Support for the EURUSD is seen at 1.3658 and resistance is seen at 1.3827. The HotForex Traders Board shows that 75 percent of the traders are short on the EURUSD.

[HotForex]

EURUSD trading higher ahead of the US Pending Home Sales data

 

EURUSD rose on Friday and closed at 1.3831. The German Ifo Business Climate dropped to a reading of 111.3 in October. On the other side of the ocean a report from the United States showed that the Core Durable Goods Orders rose 3.7 percent in September beating the market expectation of a 2.0 percent rise. Investors are now looking for the Pending Home Sales release due from the United States later today. Support for the EURUSD is seen at 1.3740 and resistance is seen at 1.3830. The HotForex Traders Board shows that 75 percent of the traders are short on the EURUSD.

 

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[HotForex]

EURUSD drifting lower today. European economy emerged from the danger zone according to ECB policymaker Coeure.

EURUSD dropped yesterday and closed at 1.3785. The Industrial Production in the United States rose 0.6 percent month over month in September. On the other side of the ocean the European Central Bank policymaker Benoit Coeure stated the economy in the Eurozone has emerged from the danger zone. He also added that the currency union was at a crossroad and must restructure the financial, avoid protectionism and foster growth with new business model in order to prosper the economy. Support for the EURUSD is seen at 1.3740 and resistance is seen at 1.3830. The HotForex Traders Board shows that 69 percent of the traders are short on the EURUSD.

 

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[HotForex]

EURUSD trading lower ahead of the ADP Non-Farm Employment Change. Eyes on the FOMC Statement.

 

EURUSD dropped yesterday and closed at 1.3745. The single European currency lost strength after the Director General of Bank of Italy Luigi Signorini indicated that the economic growth of Italy will be worse than the government forecast. On the other hand the Governing Council of the European Central Bank Ewald Nowothy stated that he doesn’t see chances of cutting the interest rates in the near future. He also added that ECB doesn’t have any tools to that could use to easy the bullish pressure on the Euro. Investors are now looking forward for the ADP Non-Farm Employment Change release and the FOMC Statement due later today. Support for the EURUSD is seen at 1.3733 and resisntace is seen at 1.3830. The HotForex Traders Board shows that 65 percent of the traders are short on the EURUSD.

 

 

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[HotForex]

EURUSD trading lower in after the FOMC Statement. US Unemployment Claims in line with the market expectations.

 

EURUSD dropped yesterday and closed at 1.3736. The United States dollar strengthened after the latest FOMC statement about the monetary policy. The United States Federal Reserve maintained the size of its asset purchase program at 85 billion dollars per month. The FOMC Statement excluded any reference to the recent government shutdown and omitted previous remarks suggesting that tightening financial conditions could slow the pace of improvement in the economy and labor market. A report today showed that the Unemployment Claims in the United States came out close to the market expectation at a reading of 340K during the last week. Support for the EURUSD is seen at 1.3635 and resistance is seen at 1.3737. The HotForex Traders Board shows that 56 percent of the traders are short on the EURUSD.

 

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[HotForex]

EURUSD trading near the 1.35 mark at the start of the week. FOMC Members Powel and Rosengren speak later today.

EURUSD dropped on Friday and closed at 1.3486. The single European currency lost strength on speculation that the European Central Bank might initiate more easing measures. On the other hand the US dollar strengthened after a report showed that the ISM Manufacturing Purchasing Managers Index in the United States rose to a reading of 56.4 in October. The President of the Saint Louis Federal Reserve James Bullard hinted that the progress in the labour market might warrant a cut in the 85 billion USD stimulus package of the central bank. Support for the EURUSD is seen at 1.3475 and resistance is seen at 1.3591. The HotForex Traders Board shows that 51 percent of the traders are short on the EURUSD.

 

GBPUSD

 

The Cable dropped on Friday and closed at 1.5922. The Markit Manufacturing Purchasing Managers Index in the United Kingdom dropped to a level 56.0 in October. In a release today the Construction PMI came out at 59.4 in October. Support for the GBPUSD is seen at 1.5916 and resistance is seen at 1.6011. The HotForex Traders Board shows that 55 percent of the traders are short on the GBPUSD.

 

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[HotForex]

EURUSD continues to trade around the 1.35 level as FED policymakers indicate highlight the possibility to continue with the stimulus measures

EURUSD rose yesterday and closed at 1.3513. The Markit Economics reported yesterday that the Manufacturing Purchasing Managers Index in the Eurozone rose to a reading of 51.3 in October. On the other side of the ocean the President of the United States Federal Reserve in Boston Eric Rosengren indicated that the monetary policy is likely to remain fully active for some time until the nation can achieve full employment within a reasonable forecast horizon. Jerome Powel – FED Governor also stated the US central bank would continue with its bond-buying program for some more time. Investors are now looking forward for the ISM Non-Manufacturing Purchasing Managers Index due from the United States later today. Support for the EURUSD is seen at 1.3475 and resistance is seen at 1.3591. The HotForex Traders Board shows that 53 percent of the traders are long on the EURUSD.

 

GBPUSD

 

The Cable rose yesterday and closed at 1.5960. The Construction Purchasing Managers Index in the United Kingdom rose to a reading of 59.4 in October. In a release today the Services Purchasing Managers Index in the United Kingdom recorded a rise coming at a reading of 62.5 in October. Support for the GBPUSD is seen at 1.5916 and resistance is seen at 1.6054. The HotForex Traders Board shows that 68 percent of the traders are short on the GBPUSD.

 

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[HotForex]

EURUSD continues to be under pressure after the European Commission cut its growth forecast for 2014

EURUSD dropped yesterday and closed at 1.3473. The European Commission stated that its too early to declare a victory against the recession in the Eurozone and it cut its growth forecast for the Eurozone economy for 2014 from 1.2 percent to 1.1 percent. The President of the European Central Bank Mario Draghi highlighted the improvement in the economy in the Eurozone since last year, but also warned that the interest rates on loans would vary in the different countries from the Eurozone. On the other side of the ocean the ISM Non-Manufacturing Purchasing Managers Index in the United States rose to a reading of 55.4 in October. Investors are now looking forward for the high impact releases due from Europe and the United States tomorrow. Support for the EURUSD is seen at 1.3464 and resistance is seen at 1.3591. The HotForex Traders Board shows that 51 percent of the traders are short on the EURUSD.

 

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[HotForex]

EURUSD trading in a tight range ahead of the ECB Interest Rate decision and the ECB Press Conference

 

EURUSD rose yesterday and closed at 1.3511. The Retail Sales month over month in the Eurozone dropped to a reading of -0.6 percent in September. The President of the United States Federal Reserve in Cleveland Sandra Pianalto stated the US central bank should be cautious about continuing with its monthly bond-buying program. She also add “My hope is that the economic recovery will accelerate so that the Fed gains the reassurance it needs to begin winding the programme.” Investors are now looking forward for the ECB Prese Conference and Minimum Bid Rate decision due from the Eurozone and the Unemployment Claims and the Advance GDP data due from the United States. Investors should be aware of the potential high volatility on the market during the time of the releases. Support for the EURUSD is seen at 1.3464 and resistance is seen at 1.3591. The HotForex Traders Board shows that the long and the short positions of the traders are even.

 

GBPUSD

 

The Cable rose yesterday and closed at 1.6077. The Industrial Production in the United Kingdom rose 0.9 percent month over month. The Manufacturing Production came out in line with the market expectation at 1.2 percent month over month in September. Investors are now looking forward for the Official Bank Rate and the MPC Rate Statement due from the United Kingdom today. Support for the GBPUSD is seen at 1.6031 and resistance is seen at 1.6109. The HotForex Traders Board shows that 65 percent of the traders are short on the GBPUSD.

 

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[HotForex]

EURUSD trading lower after ECB cut its benchmark interest rate. NFP data came out better than expected.

 

EURUSD rose yesterday and closed at 1.3418. The European Central Bank surprised the investors by cutting its benchmark interest rate by 25 basis points to 0.25 percent. The President of the ECB Mario Draghi warned of a prolonged low inflation risk to the Eurozone. On the other side of the ocean official report from the United States showed that the Gross Domestic Product in the US rose at annual rate of 2.8 percent in the third quarter of 2013. The Unemployment Claims came in line with the market expectation at a reading of 336K during the last week. The pair got another hit today after the Non-Farm Payrolls data came out better than the market expectation at 204K. The Unemployment Rate in the country remained steady at 7.3 percent. Investors are now looking forward for the speech of the Chairman of the United States Ben Bernanke due later today. Support for the EURUSD is seen at 1.3324 and resistance is seen at 1.3542. The HotForex Traders Board shows that 54 percent of the traders are short on the EURUSD.

 

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[HotForex]

EURUSD stays below the 1.35 level as ECB report indicated that the Eurozone might face long period of low inflation. Light economic calendar in the session ahead.

 

EURUSD dropped yesterday and closed at 1.3458. The European Central Bank indicated in its monthly report that the currency union may face a long period of low inflation. The ECB also showed a willingness to continue with the current monetary policy measures for as long as necessary to support the recovery of the Eurozone. The Unemployment Claims in the United States dropped less than the market expectation last week coming at a reading of 339K. During her testimony the Vice-Chairman of the United States Federal Reserve Janet Yellen expressed her commitment to promote a strong economic recovery in the US. Investors are focused on the result of the ECOFIN Meetings taking place today in Brussels. Support for the EURUSD is seen at 1.3373 and resistance is seen at 1.3487. The HotForex Traders Board shows that 59 percent of the traders are short on the EURUSD.

[HotForex]

Eurozone’s current account lower than the market expectation. FOMC Member William Dudley speaks later today.

 

EURUSD rose on Friday and closed at 1.3494. The US dollar continued to be pressurized by the incoming FED chief Janet Yellen. She continued with her dovish comments about the easy monetary policy of the US central bank. The Industrial Production in the United States dropped 0.1 percent month over month in October. The Current Account data released today from the Eurozone came out worse than the market expectation at a reading of 13.7B in September. Support for the EURUSD is seen at 1.3427 and resistance is seen at 1.3515. The HotForex Traders Board shows that 65 percent of the traders are short on the EURUSD.

 

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[vic84]

GBPUSD pair ended with a plus and hopefully this week it will continue this trend....

[HotForex]

EURUSD trading lower after the FOMC Meeting Minutes indicate possible stimulus measure cut in the one of its next meetings. US Unemployment Claims data on focus of the investors today.

 

EURUSD dropped yesterday and closed at 1.3437. Information that the European Central Bank may adjust the deposit interest rate to negative for a first time came on the market and pushed the pair lower. According to Bloomberg Policy makers would reduce the rate for commercial lenders who park excess cash at the ECB to minus 0.1 percent from zero, said the people who declined to be identified because the talks aren’t public. During its meeting minutes the Federal Open Market Committee hinted that it may reduce the size of its bond-buying program in one of its next meetings. On the economic front the Existing Home Sales in the United States dropped to a reading of 5.12M in October. The Retail Sales month over month recorded a gain of 0.2 percent in October. Investors are now looking for the PPI month over month and the Unemployment Claims releases due from the United States later today. Support for the EURUSD is seen at 1.3396 and resistance is seen at 1.3498. The HotForex Traders Board shows that 51 percent of the traders are short on the EURUSD.

 

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[HotForex]

EURUSD trading higher as Mario Draghi cooled off the news for negative rates

EURUSD rose yesterday and closed at 1.3480. The President of the European Central Bank Mario Draghi cooled off the speculation for a negative deposit rates which flooded the markets a couple of days ago. The Manufacturing Purchasing Managers Index in the Eurozone rose to a reading of 51.5 in November. On the other hand the Consumer Confidence in the Eurozone dropped to a reading of -15.4 in November. In the United States the President of the Saint Louis Federal Reserve James Bullard suggested that the US central bank should continue with its stimulus program until the inflation target is achieved. In the economic news today the German Ifo Business Climate came out better than the analysts expectation at a reading of 109.3 in November. Support for the EURUSD is seen at 1.3437 and resistance is seen at 1.3536. The HotForex Traders Board shows that 63 percent of the traders are short on the EURUSD.

 

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[HotForex]

EURUSD recovered its losses from yesterday. Light Economic Calendar in the session ahead.

 

EURUSD dropped yesterday and closed at 1.3541. The Spanish Manufacturing Purchasing Managers Index dropped to a reading of 48.6 in November. In Italy the Manufacturing Purchasing Managers Index came out in line with the market expectations at a reading of 51.4 in November. The Moody’s Investors Service upgraded the credit rating of Greece to Caa3 from C with a stable outlook. Fitch Ratings confirmed the B- credit rating of the country. The United States dollar gained strength against its European counterpart after stronger than expected ISM Manufacturing PMI data released from the United States. The ISM Manufacturing PMI came out at a reading of 57.3 in November. Support for the EURUSD is seen at 1.3520 and resistance is seen at 1.3620. The HotForex Traders Board shows that 63 percent of the traders are short on the EURUSD.

 

http://blog.hotforex.com/wp-content/uploads/2013/12/EURUSD-03-December-2013.jpg

 

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[HotForex]

EURUSD holding just below the 1.3600 level ahead of the ADP Non-Farm Employment Change data due from the United States.

 

 

EURUSD rose yesterday and closed at 1.3588.The unemployment rate in Spain unexpectedly dropped by 2,475 in November surprising the markets. Yesterday the European Union Economic and Monetary Affairs commissioner Olli Rehn stated that the recovery in the euro area is still fragile. He also added that France needs time to improve its growth and employment and has to implement a few steps before seeing the potential results. He also added that Italy is failing to cut debt quickly enough. On the other hand the Italian Prime Minister Enrico Letta criticized Rehn’s views about Italy and stressed that the Italian public accounts are in order. Investors are now looking forward for the ADP Non-Farm Employment Change and the New Home Sales data due from the United States later today. Support for the EURUSD is seen at 1.3520 and resistance is seen at 1.3620. The HotForex Traders Board shows that 65 percent of the traders are short on the EURUSD.