Subscribe to RSS

Forex News: US Dollar is Back ‘With a Vengeance: Threatens Support

EUR/USD

Forex News: Friday the Euro had another encounter with support on the back of worse than expected German Manufacturing data and a dovish speech delivered in Davos by ECB President Mario Draghi. However the week ended before a clear break could be identified.

Technical Outlook

The pair reached the important support at 1.0800 once again and this time we expect it to go through the level and make a run for 1.0710. However, a bounce here would suggest that price will move higher, into the 50 period Exponential Moving Average and if the economic data released throughout the day meets analysts’ expectations, probably the market impact will be mild and we will have a slow, ranging day.

Fundamental Outlook

At 9:00 am GMT the German IFO Business Climate comes out, expected to show a value of 108.5 compared to the previous 108.7. This survey is derived from the opinions of about 7,000 businesses regarding current economic conditions as well as expectations for the next 6 months and usually has a hefty impact on the Euro, but only if the actual value differs significantly from analysts’ forecast. Higher numbers generally strengthen the Euro. Later in the day, at 6:00 pm GMT, Mario Draghi will deliver a speech in Frankfurt and as always, caution is recommended during his public appearances.

GBP/USD

Despite a worse than expected value of the British Retail Sales, the Pound pushed higher in the first part of Friday’s trading session and touched resistance. However, later in the day the pair bounced lower on the back of a weakened Pound.

Technical Outlook

Friday’s move up was a much needed retracement but as we saw, the bulls couldn’t manage to keep price above the 50 period Exponential Moving Average; also the level located at 1.4350 is now confirmed as resistance and we can expect it to reject rising prices in the future. On top of that, the Stochastic is now overbought, a condition that wasn’t seen in a long while, so all things point towards another move south, below 1.4230. If this is not the case and price moves above 1.4350, it means we are dealing with a longer retracement to the upside but still not an end of the downtrend.

Fundamental Outlook

There are no major economic indicator releases scheduled for the Pound today so the pair’s direction will be primarily influenced by the technical aspect.

0 commentsback to post

Add your comment

Nickname:
E-mail:
Website:
Comment:

Other articlesgo to homepage

Get 300% Ramadan Welcome Bonus Campaign – FBS

Get 300% Ramadan Welcome Bonus Campaign – FBS(0)

Get 300% Ramadan Welcome Bonus Campaign. Register a Ramadan Forex Live Trading Account now and get a 300% Ramadan Welcome Bonus Campaign for deposits starting from $100 Link:  300% Ramadan Bonus Campaign Link:  $123 Forex No Deposit Bonus Link:  100% Deposit Bonus Promotion Available to: All new traders Ending Date: 31 December 2018 Bonus Offer:

$100 Binary Options No Deposit Bonus Contest – AYREX

$100 Binary Options No Deposit Bonus Contest – AYREX(0)

$100 Free Binary Options No Deposit Bonus Contest is a competition open to all AYREX account holders via demo accounts created automatically upon registration and used solely for contest participation Link:  $100 Free Win in Just One Hour Link:  $30 Binary Options No Deposit Bonus Link:  30% Binary Options Deposit Bonus Contest Ending Date: 31

$50 Free Bonus Promotion Start Trading Bitcoin – UFX

$50 Free Bonus Promotion Start Trading Bitcoin – UFX(0)

Get a $50 Free Bonus Promotion Start Trading Bitcoin with UFX. Forex Trading Bitcoin with UFX is simple and gives you the opportunity to increase your return whether BTC prices RISE or FALL Link:  $50 Free and Trade in Three Steps Link:  $50 Free No Deposit Bitcoin Bonus Link:  100% Real Money CashBack Promotion Available

30% Binary Options Welcome Bonus up to $1000 – Ayrex

30% Binary Options Welcome Bonus up to $1000 – Ayrex(0)

30% Binary Options Deposit Bonus Up to $1000 to all new Traders. Welcome Bonus can be applied to a deposit that equals 100 EUR/USD or a larger amount Link:  $100 Free Win in Just One Hour Link:  $30 Binary Options No Deposit Bonus Link:  30% Binary Options Deposit Bonus Ending Date: 31 December 2018 Bonus

Up to 200% Bonus Forex and Binary Options – Grand Capital

Up to 200% Bonus Forex and Binary Options – Grand Capital(0)

Up to 200% Bonus Forex and Binary Options Promotion to your Deposit to All clients. The Bonus Promo size ranges from 60% to 200%, depending on the account type, deposit amount and the term of trading with Grand Capital. Link:  Up to 200% Bonus to your Deposit Link: Up to 444% Profit Receive for a

$15 Cashback Rebate Bonus per Lot Traded – FBS

$15 Cashback Rebate Bonus per Lot Traded – FBS(0)

Get $15 Cash back Rebate Bonus per Lot Traded to All new traders. $15 Cashback Rebate Bonus service is unavailable for the clients, who registered their accounts via their partners. Link:  $123 Free Special Bonus Promotion Link:  100% Deposit Bonus Promotion Link:  $88.8 Lucky No Deposit Required Bonus (for Malaysian traders) Available to: All new

100% Cashback Loyalty Bonus & $50 Free Bonus – UFX

100% Cashback Loyalty Bonus & $50 Free Bonus – UFX(0)

UFX 100% Rewards Cashback Loyalty Programme and $50 Forex No Deposit Bonus Special Bonus to All new and existing accounts. Learn about Forex trading bonus promotion Link:  $50 Free and Trade in Three Steps Link:  100% Rewards Cashback Loyalty Promo Link:  $50 Free No Deposit Bitcoin Bonus Available to: All new trading account Ending Date:

Free Trading Signals and Forex Free E-books – Trade12

Free Trading Signals and Forex Free E-books – Trade12(0)

Get 100% Forex Deposit Bonus and Free Forex Daily Trading Signals, Forex Free E-books, Boost your trading with a free 100% Welcome Deposit Bonus to your Live Trading Account. Link:  Free Daily Forex Trading Signals Link:  Get 100% Welcome Deposit Bonus Link:  50% Exclusive Deposit Bonus Link:  Free Trader Education and Free Ebooks Link:  Free

Receive $30 Trade-able Credit Bonus Promo – ForexTime

Receive $30 Trade-able Credit Bonus Promo – ForexTime(0)

Switch to ForexTime and receive $30 Trade able Credit Bonus. Join the hundreds of thousands of traders around the world who have already chosen ForexTime as a broker and receive $30 tradeable credit as a thank you for switching. Link:  Receive $30 Tradeable Credit Bonus Link:  Loyalty Cashback Promotions Link:  $4 Cashback back for every

$200 Earn With Forex No Deposit Free Bonus – Ayrex

$200 Earn With Forex No Deposit Free Bonus – Ayrex(0)

$200 Earn With Forex No Deposit Free Bonus to all New activated Clients. Ayrex presents its very first Binary Options No Deposit Bonus for new traders. Sign up to get FREE $30 and turn them into a fully withdrawable $200! This bonus allows you to profit without making an investment and trade binary options risk-free.

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