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 250% Bonus Promotion for First Deposit – Insta Forex

Get 250% Bonus Promotion for First Deposit – Insta Forex(0)

250% Deposit Bonus to All new trading account, who had not had accounts with InstaForex before. The bonus can be deposited to Standard USD accounts, There are few steps in getting the biggest bonus of 250%! Link:  Get 250% Bonus for First Deposit Link:  $5000 Forex No Deposit Free Bonus Link:  $5000 Forex No Deposit

30% Reduction Spreads and 30% Deposit Bonus – AvaTrade

30% Reduction Spreads and 30% Deposit Bonus – AvaTrade(0)

We have always offered excellent bonuses promo and high leverage, Enjoy a 30% Special reduction on spreads and 30% Special Welcome bonus on your deposit! Link:  100% Bonus to Your First Deposit Link:  30% Sign-up Bonus on your Deposit Link:  30% Enjoy Reduction on Spreads Available to: All new account Ending Date: 31 December 2018

30 USD Free Account Verification Forex Bonus – Xtrade

30 USD Free Account Verification Forex Bonus – Xtrade(0)

$30 Free Account Verification Forex Bonus and up to $6000 First Deposit Bonus Promotions and $25 Free Cash Bonus No deposit required forex bonus to all new live trading account. Link:  $25 Forex No Deposit Bonus Link:  $30 Free Account Verification Bonus Link:  Up to $6000 First Deposit Bonus Bonus Ending Date: 31 December 2019

Get 100% Bonus Doubles your Deposit – FBS Broker

Get 100% Bonus Doubles your Deposit – FBS Broker(0)

Get 100% Forex Bonus Doubles your Deposit FBS Broker has prepared something really special for you. Activate 100% Forex Deposit Bonus and make your trading x2 more efficient 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 traders Ending

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

Get a $50 Free Bonus Start Trading Bitcoin – UFX

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

Get a $50 Free Bonus 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 No Deposit Bonus Promotion Link:  $50 Free No Deposit Bitcoin Bonus Link:  Halloween Trick or Trade Competition Link:  100% Real Money

$3500 Free No Deposit Bonus in a Minute – Insta Forex

$3500 Free No Deposit Bonus in a Minute – Insta Forex(0)

Get $3500 Free No Deposit Bonus in a Minute from InstaForex no need to risk your own money if you have already got funds to earn more money. The $3500 Free No Deposit Bonus in a Minute from InstaForex is an exciting opportunity to start Forex live trading. Link:  $500 Forex No Deposit Free Bonus

Forex Circuits Live Trading Contest 2017 – Forex Time

Forex Circuits Live Trading Contest 2017 – Forex Time(0)

ForexTime latest Live Contest Win cash prizes from a $400,000 total prize pool. FX Circuits rewarding clients with real, withdrawable from a $400000 total prize pool.* Link:  FX Circuits Live Trading Contest Link:  Demo Forex Trading Contest Link:  Loyalty Cashback Promotions Link:  200% Withdraw able Cashback Rebates Available to:   New Clients only Contest Offer: ForexTime

$200 Forex Free No Deposit Pushup Bonus – FreshForex

$200 Forex Free No Deposit Pushup Bonus – FreshForex(0)

FreshForex finally launches long-awaited $200 Forex Free No Deposit Pushup Bonus Broker. With FreshForex new bonus every new client registered with us through special link within promotion period gets $200 to the trading account. Link:  $200 No Deposit Pushup Free Bonus Ending Date: 16 September 2018 Bonus Offer: $200 No Deposit Welcome Pushup Bonus for

$30 No Deposit Forex Welcome Bonus Campaign – Tickmill

$30 No Deposit Forex Welcome Bonus Campaign – Tickmill(0)

$30 No Deposit Forex Welcome Bonus Campaign to All new traders. $30 Free Forex Welcome Account is available to all new clients who expressed a wish for it during the registration process. Link:  Weekly Demo Race Trading Contest Link:  $30 Free Welcome Bonus Campaign Link:  Forex Monthly Live Trading Contest Available to: All new traders

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