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

25% Forex Credit Bonus on their First Deposit – HYCM

25% Forex Credit Bonus on their First Deposit – HYCM(0)

25% Credit Forex Bonus Promo available on your Deposits. Experience Some of HYCM New Features, Services and Offers Receive 25% Forex trading credit bonus Link:  25% Trading Bonus on your Deposits Ending Date:  31 December 2017 Available to:   New Clients only Bonus Offer: 25% Forex Trading Bonus Promo Available on your deposits to New Clients only.

$25 Deposit and earn $5000 Cashback Bonus – UFX

$25 Deposit and earn $5000 Cashback Bonus – UFX(0)

100% Forex Real Money Cash-back Bonus Promotion to all new and existing clients. Join and gain exclusive access to the ONLY online trading 100% Forex Cashback rewards bonus program Link:  100% Real Money Cash-back Promotion Link:  $50 Forex No Deposit Bonus Promotion Available to: All new trading account Ending Date: 31 December 2018 Bonus offer:

Weekly Demo Trading Contest – Adamant Finance

Weekly Demo Trading Contest – Adamant Finance(0)

Weekly Forex Demo Trading Contest 2017 total amount of the prize fund is 1300USD. We announce traders’ contest for all who want to take part and to gain prizes. Link:  $50 No Deposit Welcome Bonus Link:  Weekly Forex Trading Contest Available to: All new and existing clients. Ending Date: 31 December 2017 Contest offer: Forex

$30 Fx Bonus to Your Account Completely Free – Fidelis

$30 Fx Bonus to Your Account Completely Free – Fidelis(0)

Get $30 No Deposit Fx Bonus Promotion in your Fidelis CM account and start your forex trading career. Open your new trading account with Fidelis CM in a few simple steps and get your $30 Fx Free No Deposit Bonus credited in your account. Link:  $30 Forex No Deposit Bonus Completely Free Available to: All

Free Forex Trading Signals Promotion – Forex Time

Free Forex Trading Signals Promotion – Forex Time(0)

FXTM Free Forex Trading Signals Spotting Trading Opportunities Just Got Easier and Up to 200% Withdrawable Cashback Rebates and get $4 Cashback back for every lot you trade. Link:  Free Forex Trading Signals Link:  Loyalty Cashback Promotions Link:  200% Withdraw able Cashback Rebates Ending Date: 31 December 2018 Available to: All Customers Bonus Offer: ForexTime

Free MT4 VPS plus 100% Welcome Bonus – FXGiants

Free MT4 VPS plus 100% Welcome Bonus – FXGiants(0)

FXGiants is offering its valued Trader  the exclusive 100% Maximiser Forex Welcome Bonus. Be rewarded with this unique offer and maximise your trading potential with NO limits. Link:  $35 No Deposit Bonus Promotion Link:  100% Maximiser Deposit Bonus. Link:  20% Bonus Advantage up to $2000 Available to: All new trading account Bonus offer: $35 No

$1000 Welcome Deposit Bonus Promotions – eToro

$1000 Welcome Deposit Bonus Promotions – eToro(0)

Get Forex Welcome Deposit Bonus Promotions code by eToro Forex Broker. Trade over 900 global instruments with most advance and friendly trading platform. Link:  Top Copy Trading Social Platforms Link: Up to $1000 Welcome Deposit Bonus Available to: All new account Ending Date: 31 December 2018 Bonus Offer: Get Forex Welcome Deposit Bonus Promotions code

$50 Forex No Deposit Welcome Free Bonus – ForexBull

$50 Forex No Deposit Welcome Free Bonus – ForexBull(0)

$50 Forex No Deposit Welcome Free Bonus is available to all new clients of ForexBull as well as for those who still haven’t got any previous No Deposit Welcome Free Bonuses from the company. Link:  $50 Forex No Deposit Welcome Bonus Available to: All new trading account Ending Date: 31 December 2017 Bonus offer: $50

Forex Global Demo Trading Contest 2017 – AETOS

Forex Global Demo Trading Contest 2017 – AETOS(0)

The AETOS Capital Forex Global Demo Trading Contest 2017, with weekly prizes and overall championship prizes to win! The total prize of the contest is worth $10,000*! Link:  Global Forex Demo Trading Contest Available to: All clients Ending Date: 31 December 2017 Contest offer: Global Forex Demo Trading Contest Top prize worth $10000 As one

100% Double Dynamo Bonus up to $10000 – FXPRIMUS

100% Double Dynamo Bonus up to $10000 – FXPRIMUS(0)

100% Double Dynamo Bonus Forex on up to $10,000 plus up to $4 cash back Rebate Bonus for every lot traded! Be rewarded with this incredible offer which is available for a limited time only Link: 100% Double Dynamo Bonus Available to: All New and Existing Clients Ending Date: 31 December 2018 Bonus offer: 100%

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