Subscribe to RSS

US Dollar’s Reign Faltered by Disappointing U.S. Data

EUR/USD

Forex News: The pair had a bullish session yesterday after the bears failed to continue Friday’s downside momentum. The U.S. Manufacturing PMI disappointed, showing a value of 48.2, slightly below analysts’ expectations.

Technical Outlook

The bounce higher in close vicinity of the key support at 1.0800 shows that the ranging period is still not over and that we may see another move close to 1.0945 resistance. The level at 1.0870 is starting to lose its strength and cannot be considered at the moment support although the pair is trading above it and almost the same is true for the 50 period Exponential Moving Average that is moving sideways. We expect choppy price action until a clear breakout occurs and our bias is neutral.

Fundamental Outlook

The German Unemployment Change is released today at 8:55 am GMT and expected to show a change of -7K compared to the previous -14K. The indicator is not especially important but can strengthen the Euro if lower than expected numbers are posted because less unemployed people shows a thriving economy.

GBP/USD

The Pound benefited from a better than expected Manufacturing PMI while the greenback suffered from a lower value of the indicator with the same name and thus the first day of the week was controlled by the bulls.

Technical Outlook

The pair is testing the resistance at 1.4350 again but this may very well be the start of a ranging period if volatility drops near this zone. Also, the bears are starting to lose their grip on the pair and the downtrend is now severely weakened. A move above 1.4350 followed by a re-test from above and a bounce would suggest that we will see the pair touch 1.4475 in the near future.

Fundamental Outlook

At 9:30 am GMT the British Construction PMI comes out, showing the opinions of about 170 purchasing managers about the business conditions in the construction sector. The forecast is 57.6 and usually higher numbers strengthen the Pound because the survey also acts as a leading indicator of economic health.

0 commentsback to post

Add your comment

Nickname:
E-mail:
Website:
Comment:

Other articlesgo to homepage

Forex Trade and Free Win 2 Flight Tickets – Trade12

Forex Trade and Free Win 2 Flight Tickets – Trade12(0)

Forex Trade and Free Win 2 Flight Tickets To The Men’s Final Australian Open January 29, 2017. Register now and get your FREE ATP World Tour | Tennis Tickets 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:

Forex Demo Trading Competition 2017 – AHMZ TradeFX

Forex Demo Trading Competition 2017 – AHMZ TradeFX(0)

Forex Demo Trading Competition 2017 Total Competition prize is more than 10,000 USD. Once you log in to your Demo account, you can start competing for one of the 300 prizes. Link:  Forex Demo Trading Competition 2017 Available to: All Customers Ending Date: 31 December 2017 Contest offer: Total Competition prize is more than 10,000

$300 Free Win Trading Credit on Monday – easyMarkets

$300 Free Win Trading Credit on Monday – easyMarkets(0)

Enter now and you may win $300 easyMarkets free trading credit bonus on Monday. Answer the weekend quiz and fill the form with your correct and accurate contact details. Link:  50% Deposit Bonus Up to $2000 Link:  $300 Free win Trading Credit Bonus Link:  Up to $2500 Earn just for Sharing Available to: All new

$50 Free Binary Bonus No questions asked – Tradeplus

$50 Free Binary Bonus No questions asked – Tradeplus(0)

Get $50 Free Open a free Binary live trading account, deposit and get $50 FREE Bonus – no questions asked! Make your first deposit and you’ll get an extra $50 – no strings attached Link:  $50 Free Bonus No questions asked Available to: All new Customers Ending Date: 31 December 2017 Bonus offer: Get $50

Get 20% Bonus Make $100 Deposit or More – FirewoodFX

Get 20% Bonus Make $100 Deposit or More – FirewoodFX(0)

20% Forex Bonus Make $100 Deposit or More. Bonus can be used as additional margin and equity If you deposit $500, you can hold a losing position up to $600 Link: 20% Bonus Make $100 Deposit or More Available to: All new and existing Bonus Ending Date: 31 December 2017 Bonus offer: 20% Bonus Make

150% Bonus for a First Time to Binary Trading – NordFX

150% Bonus for a First Time to Binary Trading – NordFX(0)

Up to 150% Bonus for a First Time to binary options Account. For a perfect start, we offer you a 150% bonus for a first-time $5,000 deposit. Link:  Up to 150% Bonus for a First Time Link:  100% Withdrawable Deposit Bonus Link:  55% Deposit Bonus Promotion Available to: All new traders Ending Date: 31 December

100% Welcome Bonus Plus Daily Free Signals – Trade12

100% Welcome Bonus Plus Daily Free Signals – Trade12(0)

Get 100% Welcome Deposit Bonus and 7-day risk free trade, Boost your trading with a free 100% Welcome Deposit Bonus to your Live Trading Account. Link:   Get 100% Welcome Bonus Link:  50% Exclusive Deposit Bonus Link:  Free Daily Forex Trading Signals Available to: All new clients Ending Date: 31 December 2017 Bonus Offer: Get

25 Euro Forex No Deposit Welcome Bonus – direktbroker-FX

25 Euro Forex No Deposit Welcome Bonus – direktbroker-FX(0)

25 Euro Forex No Deposit Welcome Bonus to all EU and the UK  live Trading Account Holder. Open a real account direct instead of an demo account first and you will get a 25,- Euro Free. Link:  25 Euro Free Welcome Bonus Available to: All new account Ending Date: 31 December 2017 Bonus offer: 25

Up to $250 Cash in Your Expert Advisor – ThinkMarkets

Up to $250 Cash in Your Expert Advisor – ThinkMarkets(0)

Up to $250 Cash in Your Expert Advisor. Make the Move to Think Trader and Cash in Your Expert Advisor for Up to $250* Link:  Up to $250 in Your Expert Advisor Available to: All new account Ending Date: 31 December 2017 Bonus offer: Up to $250 Cash in Your Expert Advisor Bonus to all new

$30 Forex No Deposit Bonus Welcome Promo – XM

$30 Forex No Deposit Bonus Welcome Promo – XM(0)

$30 Forex  No Deposit Bonus Welcome Promo Bonus and 15% Welcome Deposit Bonus, Welcome Bonus brings Real Account clients the best rewards available. Entering the markets and trading with XM enables you to earn from your trades and build your own bonus up to a maximum of $1,000. Link:  $30 Forex No Deposit Bonus Link: 

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