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

Get 30% to 250% Forex Exclusive Bonuses – Insta Forex

Get 30% to 250% Forex Exclusive Bonuses – Insta Forex(0)

Get 30% to 250% Forex Exclusive bonuses on 1st deposit of reduction on one instrument of your choice. Every InstaForex client can get the 30% to 250% Exclusive bonuses from the deposited sum. Link:  Get 250% Bonus for First Deposit Link:  100% Special Deposit Bonus Promo Link:  $500 Forex No Deposit Free Bonus Link:  $1000

Receive $7 Forex Free No Deposit Welcome Bonus – FXCL

Receive $7 Forex Free No Deposit Welcome Bonus – FXCL(0)

Receive $7 Forex Free No Deposit Welcome Bonus the best start of your Forex Trading Career. The $7 Forex Free No Deposit Welcome Bonus Simply follow us on Facebook and Receive your reward straight to the balance of your live account without making any deposits. Link: Receive $7 No Deposit Forex Bonus Available to: All

Traders Party Hanoi Special Event Promotion – FBS

Traders Party Hanoi Special Event Promotion – FBS(0)

FBS Traders Party Hanoi Special Event Promotions Traders Party for Vietnamese clients. Make a deposit of no less than $500 and trade at least One lot Hurry, the seats are limited. Link:  Traders Party Hanoi Promotions Link:  $123 Forex No Deposit Bonus Promo Link:  $77.7 Free No Deposit Lucky Bonus Link:  $88.8 No Deposit Forex

$50 Free No Deposit Required Bonus Promotion – UFX

$50 Free No Deposit Required Bonus Promotion – UFX(0)

Get $50 Free No Deposit Required Bonus Explore all the mysteries of Forex Trading with free $50. Get your FREE $50 and start trading Special Bonus Promotion Trading is simple and it’s on us. Link:  100% Real Money CashBack Promotion Link:  $50 Forex No Deposit Bonus Promotion Link:  $50 Free No Deposit Bitcoin Bonus Link: 

Up to $1000 Bonus on all Deposits – Fort Financial Services

Up to $1000 Bonus on all Deposits – 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

Free $30 Earn Trade-able Trading Credit Bonus – Forex Time

Free $30 Earn Trade-able Trading Credit Bonus – Forex Time(0)

Switch to ForexTime and Free $30 Earn Trade-able Trading Credit Bonus. Join the hundreds of thousands of traders around the world who have already chosen ForexTime as a broker and Free Earn $30 Trade-able Trading Credit Bonus as a thank you for switching. Link:  Receive $30 Tradeable Credit Bonus Link:  Loyalty Cashback Promotions Link:  FX

$100 Risk Free Money on your Live Account – FidelisCM

$100 Risk Free Money on your Live Account – FidelisCM(0)

Get $100 Free Risk Forex Money on your Live Account There is no better way to trust more. Sign up for $100  No Deposit Bonus from FidelisCM Live Account and start forex trading now. Link: $100 Free No Deposit Forex Bonus Link: 200% Margin Bonus on all Deposit Available to: New and Existing clients Ending

$14000 New Accounts Bonus on Initial Deposits – AvaTrade

$14000 New Accounts Bonus on Initial Deposits – AvaTrade(0)

Up to $14000 New Accounts Bonus on your Initial Deposits to all new trading account. Open a new live trading account and verify it Make a deposit of no less than $100 and request the New Accounts Bonus. Link:  100% Bonus to Your First Deposit Link:  30% Sign-up Bonus on your Deposit Link:  Up to

Up to 200% Withdrawable Cashback Bonus – Forex Time

Up to 200% Withdrawable Cashback Bonus – Forex Time(0)

Always aims for profitable promotions for FXTM Customer, this time they have come up with a 200% Cashback Rebate Bonus promo which enables traders to earn up to 10,000 USD withdraw able Cashback bonus. Link:  Receive $30 Tradeable Credit Bonus Link:  FX Circuits Live Trading Contest Link:  Demo Forex Trading Contest Link:  Loyalty Cashback Promotions

$2500 Forex No Deposit Free Startup Bonus – InstaForex

$2500 Forex No Deposit Free Startup Bonus – InstaForex(0)

$2500 Free No Deposit Forex Bonus to Start Risk Forex Trading on InstaForex.com‎. With $2500 Free Forex Bonus you will be able to estimate our unsurpassed quality of order execution in live trading conditions with no risk and personal investments. Link:  Up to $5000 No Deposit Free Bonus Link:  $500 Forex No Deposit Free Bonus

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