WorldForex_Eng

WorldForex_Eng

The currency pair declined last week and has tested 1m2108 support area. GBP/USD stays below this level at the moment of writing. UK GDP data was better than expected last week. However, the result of this release had almost no impact on GBP. Retail sales data had negative impact on GBP/USD on Friday. We expect GBP/USD to test 1.2108 this week. If the currency...

WorldForex_Eng

The currency pair had no tendency last week. EUR/USD stays below 1,0870 at the moment of writing. German Prelim GDP data has shown a decline towards -2.2%. Economists expected the same result. US CPI and Retail Sales data was lower that expected. There is nothing surprising here as there are still some major restrictions in the United States. We expect the...

WorldForex_Eng

The currency pair declined last week and tested 1,2372. GBP/USD stays above this level at the moment of writing. The main event last week was the Bank of England meeting. The MPC has taken the decision to change nothing in the monetary policy. GBP had no significant support as US data was negative and supported US Dollar. However, on Friday GBP/USD went upwards...

WorldForex_Eng

The currency pair declined last week and has broken down 1,0870 support area. EUR/USD stays below this level at the moment of writing. Market reacted on negative news from the US last week and USD went upwards. USD is still considered to be the shelter. Moreover, EUR/USD is under the pressure due to the information coming from the Eurozone. We have a pattern of...

WorldForex_Eng

The currency pair went upwards last week and has broken out 1,2372 resistance area. GBP/USD stays above this level at the moment of writing. The main events last week were from the United States and we have already mentioned them in our EUR/USD review. There was nothing important coming from the GB. As for the current forecasts, we expect GBP/USD to move towards...

WorldForex_Eng

The currency pair went upwards last week and has broken out 1,0870 resistance area. EUR/USD stays above this level at the moment of writing. As for the reasons of this growth, we can name weak US Labor Market data. The number of unemployed persons exceed 3 million each week. Consumer Confidence declines as well. European central bankers have decided to do nothing...

WorldForex_Eng

The currency pair declined last week as investors had fears on growing tensions in the Middle East. The situation has changed on Friday as the US Labor Market data was weak, and there was no further escalation of the conflict around Iran (however, no one can guarantee that this conflict is solved). We expect GBP/USD to move above the trend line this week. This is...

WorldForex_Eng

The currency pair declined last week and has tested the ascending trend line. US Labor Market data has positively influenced EUR/USD as the releases were weaker than expected. The currency pair gained some previously lost positions. The growing tensions in the Middle East added some negative to the currency pair fluctuations. Investors have quickly calculated...

WorldForex_Eng

The currency pair attempted to exit Flag pattern, but it failed to grow. GBP/USD still stays below 1,2980. UK and US Flash PMI indexes were the main drivers for US dollar growth. We have noticed in our EUR/USD review that UK data was better than expected. As for the UK Flash PMIs, they were worse than previous readings and expectations. GBP/USD’s decline is the...

WorldForex_Eng

The currency pair declined last week. Flash PMIs were the main downtrend catalysts. Eurozone’s indexes were mostly negative. As for the US Flash PMIs they were positive. Flash Manufacturing PMI has reached 52,2 and Flash Services PMI was 51,6. EUR/USD has tested the resistance at 1,1068 and reversed later. The currency pair is likely to develop this downside...

WorldForex_Eng

The currency pair resumed its growth last week and tested the resistance at 1,2961. GBP/USD stays below this level in the moment of writing. The main growth catalysts were the US data, described in our EUR/USD review and Brexit news. EU has offered another delay for the Brexit. The next Brexit date is January 31, 2020. WE expect the currency pair to develop its...

WorldForex_Eng

The currency pair resumed its growth last week and tested the resistance at 1,1166. EUR/USD stays above the ascending trend line. The main growth catalyst was the decision of the FOMC to cut rate by 25 basis points. The FOMC head has mentioned that they want to protect the US economy from the eventual risks. As for the US data, there were a couple of important...

WorldForex_Eng

The currency pair had a correction last week after a huge growth previously. GBP/USD stays below 1,2980 in the moment of writing. There were no important releases last week. The correction was of technical nature. There are lots of US data releases this week which are able to lead to significant market fluctuations. GBP/USD is going through a period of...

WorldForex_Eng

The currency pair had a correction last week and has tested the support at 1,1068. EUR/USD stays above this level in the moment of writing. Eurozone’s PMIs and ECB’s meeting were the main drivers for price fluctuations last week. PMI data was mixed as French business activity was better than expected and German was worse. As for the ECB meeting, the central...

WorldForex_Eng

The currency pair developed its growth last week supported by weak US data. EUR/USD has almost reached 1,1068 resistance area. US CPI data has demonstrated 0 growth for the reported period. Core US CPI has reached 0,1%. It is important to mention that this indicator is the key factor for the US monetary policy. The currency pair is able (both Technically and...

WorldForex_Eng

The currency pair went upwards last week and reached the resistance at 1,2677. GBP/USD stays below this level in the moment of writing. Currency pair’s growth was supported by the possibility of Brexit deal announced on Thursday-Friday. Weak US data was another supportive factor for GBP/USD. UK data was weak last week. GBP growth reached -0,1% and Manufacturing...

WorldForex_Eng

The currency pair went upwards last week and almost reached the resistance at 1,2372. However, after Friday’s US Labor market data release, GBP/USD retreated. We have covered the reasons for this short-term USD weakness in our EUR/USD review already. There are no reversal signals currently and we do not recommend taking fast decisions. It is better to wait for...

WorldForex_Eng

The currency pair went upwards last week due to the short-term USD weakness. However, EUR/USD failed to break out the resistance at 1,1068 because of Friday’s US Labor Market data. Friday’s data was mixed. Average Hourly earnings increased for 0,4% and this data supported the US dollar. As for the negative effect, US ISM Manufacturing PMI was below 50, which...