Subscribe to RSS

Forex News: Bullish Action Ahead, As Long As Support Holds

EUR/USD

Forex News: The pair had a choppy session yesterday, moving above and below the minor support at 1.1110. The German Industrial Production release was shifted 24 hours later and no other major indicators were released.

Technical Outlook

The minor support at 1.1110 shows rejection and if it’s not broken soon, we are likely to see a move back into 1.1210 and a possible continuation of last week’s move. A break of this level is likely to find support in the zone around 1.1040, as well as near the 50 period Exponential Moving Average. The bias remains bullish as long as the pair is trading above 1.1040.

Fundamental Outlook

The German Industrial Production was rescheduled for today at 7:00 am GMT, but the forecast remains the same: a change of 0.2% compared to the previous -0.3%. Higher numbers show an active economy and usually strengthen the single currency but the impact is limited most of the times.

GBP/USD

The Pound gave back some of last week’s gains and the pair even moved below the 50 period Exponential Moving Average, showing that the US Dollar still has underlying strength.

Technical Outlook

The pair found support at 1.4350 and at the moment it appears to be bouncing higher. If this bounce manages to break the 50 period Exponential Moving Average and 1.4475 to the upside, then we will probably see a continuation of the bullish move, otherwise, a break of 1.4350 would suggest that further downside movement will follow.

Fundamental Outlook

The Pound will not be affected by major economic indicator releases today and the main focus will be the technical aspect.

0 commentsback to post

Add your comment

Nickname:
E-mail:
Website:
Comment:

Other articlesgo to homepage

300% Trad-able Special Bonus Promotion – MarketsYes

300% Trad-able Special Bonus Promotion – MarketsYes(0)

300% Forex Tradable Special Bonus Promotion All New and existing clients. MarketsYes is offering all prospective clients deposit for up to 3000 USD/EUR/GBP a 300% Tradable Special Bonus. Link:  300% Tradable Bonus Promotion Available to: All New and existing clients Ending Date: 31 December 2017 Bonus offer:  300% Tradable Special Bonus Promotion All New and

100% Deposit Bonus and Forex Free Signals – Trade12

100% Deposit Bonus and Forex Free Signals – Trade12(0)

Forex Free Trading Signals via SMS. EMAIL. SKYPE. WHATSAPP and 100% Welcome Deposit Forex Bonus to your Live Trading Account. Link:  Free Daily Forex Trading Signals Link:  Get 100% Welcome Deposit Bonus Link:  Forex Trade and Win 2 Tickets Available to: All new clients Ending Date: 31 December 2017 Bonus Offer: Get 100% Welcome Deposit

100% New Account Bonus Up to $300 – Ava Trade

100% New Account Bonus Up to $300 – Ava Trade(0)

100% New Account Deposit Bonus to your first deposit Up to $300. Start trading today and in honour of our Irish roots we’ll give you a St. Patricks Day special bonus of up to 100% Link:  100% Special Bonus to Your First Deposit Available to: All new account Ending Date: 31 December 2017 Bonus offer:

$20 Phone Validation Welcome Forex Bonus – LMFX

$20 Phone Validation Welcome Forex Bonus – LMFX(0)

$20 Phone Validation Welcome Forex Bonus to All New Traders. The $20 Phone Validation Forexc Bonus is available for all the Clients who have successfully opened and funded their trading account with the Company in accordance with the Account Opening Agreement. Link:  $20 Phone Validation Welcome Forex Bonus Available to: All new traders Ending Date:

Live Trading Competition & 20% Deposit Bonus – FirewoodFX

Live Trading Competition & 20% Deposit Bonus – FirewoodFX(0)

Forex Live Account Trading Competition and 20% Forex Deposit Bonus . FirewoodFX presents the forex live account Trading Competition 1 with cash prize more than $1000! Be the winner by achieving the highest profit! Link: Live Account Trading Competition Link: 20% Bonus Make $100 Deposit or More Available to: All new and existing Ending Date:

$50 Free Bonus Without a Deposit – Adamant Finance

$50 Free Bonus Without a Deposit – Adamant Finance(0)

Free $50 Forex No Deposit Welcome Bonus to all new Traders. Receive $50 for Forex Free Bonus Without a Deposit and test the terms on a real account, without transfering any money. Link:  $50 No Deposit Free Welcome Bonus Ending Date: 31 December 2018 Available to: All new Traders Bonus Offer: Free $50 Forex No

Binary Options Free Demo Trading Tournament – CBFinvest

Binary Options Free Demo Trading Tournament – CBFinvest(0)

Binary Options Free Demo Trading Tournament total 2000$ cash prizes. Any Spotoption brand can start offering immediately binary options Tournaments, without spending a fortune on programming and without waiting for months Link:  Binary Options Free Demo Tournament Available to: All Customers AMAZING FEATURES Rebuys – for Tournaments based on demo, the feature of Rebuys allows

Risk Free Trading plus Free Forex Signals – MarketsYes

Risk Free Trading plus Free Forex Signals – MarketsYes(0)

300% Forex Deposit Bonus Promotion and Forex Risk Free Trade plus Forex Free Signals All New and existing clients. MarketsYes is offering all prospective clients deposit for up to 3000 USD/EUR/GBP a 300% Tradable Bonus. Link:  300% Tradable Bonus Promotion Link:  Risk Free Trade plus Forex Free Signals Available to: All New and existing clients

50% Bonus of Every Deposit – Fort Financial Services

50% Bonus of Every Deposit – Fort Financial Services(0)

Up to 50% Bonus of Every Deposit to All New and Existing Traders. You Deposited $1000 on your account, chose a 50% bonus and got 500 extra dollars to the initial deposit amount. Link: Up to 50% Bonus of Every Deposit Link: $5 Forex No Deposit Welcome Bonus Link: 15% Support Margin Bonus Link:  Profit

123% Tradable Deposit Bonus Promotion – FreshForex

123% Tradable Deposit Bonus Promotion – FreshForex(0)

Get 123% Tradable Deposit Bonus Promotion gives a real chance to start Forex trading with low investment and double return. Start efficient Forex trading with Tradable Bonus 123% Campaign. Link:  123% Tradable Deposit Bonus Promotion Link:  $5 Forex No Bonus Promotion Ending Date:  31 December 2017 Available to:   New Clients only Bonus Offer: Get 123%

read more

Forex Featured Broker

Contacts and information

ForexDepositNews.com Forex Deposit Bonus, Forex No Deposit Bonus, Forex Live Contest, Forex Demo Contest, Free Forex Bonus Forex Brokers Review and Other All Forex promotions.

ForexDepositNews.com

Social networks

Most popular categories