EUR USD NEWS

Forex technical analysis and recent forex news shows that, EUR market decreased +0.65% against the USD yesterday. EUR USD market closed at 1.0724. Today market will range 1.0709 – 1.0840

Today the EUR / USD started at 1.0724 in Asia, up from yesterday close. The EUR/USD is trading now at 1.0751, which is 0.25% up from today’s opening price.

Yesterday EUR/USD spent all day in a 100 points range. And market was close below the opening price, which is very low. Due to gains and losses of different instruments and indexes consolidated yesterday markets were very quite. EUR/USD tried to break 1.0800 level during euro session but it’s failed.

today, there is no major news to be released from the Euro region for today while in the US, we will be getting the PPI data later during the beginning of the US session. Expect the battle to continue for today with a slight upper hand for the bulls.

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Daily Technical Support and Resistance

Daily Camarilla Forex Technical analysis shows that, the EUR/USD pair may find the immediate support at 1.0724. If, market breaks the first support then it will go for the following support to test. Following supports are 1.0710 and 1.0697.

On the other side the market has immediate resistance 1.0750. if, market breaks the primary resistance level then, market will go for the new resistance level  1.0750 and 1.0750.

Expected trading range for today is between 1.0709 supports and 1.0840 resistances.

GBP USD NEWS

GBP USD Forex News shows that, GBP decreased -0.10% against the USD and Yesterday market closed at 1. 2456. Day’s Range 1.2437 – 1.2481.

Today the GBP USD started at 1.2452, which is down from yesterday closes.

Today morning the GBP/USD pair recovered from yesterday fall and market is trending now above 1.2450. We can expect bullish trend today for GBP/USD pair as GBP/USD tries to recover some of its losses from last few days. BOE Governor is trying hard to recover the GBP market from the backdrop of falling data and falling political stances.

The Brexit process is at a crucial juncture with the time window for invoking Article 50 fast approaching but politically, the government seems to be behind on the timeline front as it grapples with the need to get Parliament approval for the invocation. This is bound to be a long and uncertain process and this uncertainty will not be welcomed by the markets.

Today, along with other upcoming economic data we will have Claimant Count Change data from the UK. Though it does not have much impact on GBP.

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Daily Technical Support and Resistance

Daily Camarilla Forex Technical analysis shows that GBP/USD pair may find the immediate support at 1.2442. If, market breaks the first support then it will go for the following support to test. Following supports are 1.2428 and 1.2414.

On the other side the market has immediate resistance at 1.2470. If, market breaks the primary resistance level then, market will go for the new resistance level 1.2484 and 1.2498.

Expected trading range for today is between 1.2437 supports and 1.2481 resistances.

Upcoming Important Economic Market News: (GMT +3)

1.  GBP Average Earnings Index 3m/y 12:30pm
2. CHF ZEW Economic Expectations
3. GBP Claimant Count Change
4. GBP Unemployment Rate
5. GBP CB Leading Index m/m

USD JPY NEWS

As per Forex News USD increased +0.44% against the JPY yesterday during USA session and the pair was closed at 109.19.

There was another higher spike in US treasury yields. After releasing of bullish US retail sales data yields rose again. According to the US commerce Department, Retail sales are now 4.3% up from the last year, which is largest sales rise since early 2014.

Traders also responded to a rise in import prices from 0.2 percent to 0.5 percent. This is a sign that inflation is creeping higher.

In other news, the Empire State Manufacturing Index was reported at 1.5, better than the -1.5 estimate and a marked improvement from the previous -6.8. Business Inventories were up 0.1%, slightly below the 0.2% estimate.

We also heard from a couple of Fed members on Tuesday. Fed Governor Daniel Tarullo said the Federal Reserve will have to monitor interest rates and tightening financial markets in reaction to Trump’s fiscal spending plans as it decides how quickly to tighten monetary policy.

Federal Reserve Vice Chairman Stanley Fischer expressed caution over market liquidity, but said overall, liquidity is adequate.

Daily Technical Support and Resistance

Daily Camarilla Technical analysis shows USD/JPY pair may find the immediate support at 109.02. If, market breaks the first support then it will go for the following support to test. Following supports are 108.87 and 108.72.

On the other side the market has immediate resistance 109.32. If, market breaks the primary resistance level then, market will go for the new resistance level 109.47 and 109.62.

Expected trading range for today is between 108.80 support and 109.22 resistance.

Along with technical analysis following economic event are very important to analyze the financial market properly.

Upcoming Economic Market News: (GMT +3)

1.  USD FOMC Member Bullard Speaks
2. USD PPI m/m
3. USD Core PPI m/m
4. USD Capacity Utilization Rate
5. USD Industrial Production m/m

Read More of Our Technical Market News and Analysis

EUR USD News

The EUR market increased +1.11% against the USD on Friday. EUR USD market closed on Friday at 1.1140. Today market will range 1.1055 – 1.1141.
Today the EUR / USD started with -0.64% in Asia, down from Friday close. The EUR USD is trading now at 1.1068.

EUR/USD recovered at the beginning of November. EUR/USD had a highly productive time last week as it climbed to its highs over the last 3 weeks.

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Daily Support and Resistance:

Daily Camarilla Forex Technical analysis shows that, the EUR/USD pair may find the immediate support at 1.1091 below which 1.1088 and 1.1084 could be tested. On the other side the immediate resistance 1.1099 and may go for further test 1.1102. A break beyond the last, doors will open for a test of 1.1106

Today EURUSD Investors will look forward to the following economic data (GMT+3):

1. EUR – German Factory Orders m/m at 10.00 AM
2. EUR – Retail PMI at12.10 pm
3. EUR – Sentix Investor Confidence at 12.30 pm
4. EUR – Retail Sales m/m 1.00 pm
5. EUR – Eurogroup Meetings ( All day )

GBP USD News

GBP increased +3.02% against the USD and market closed at 1.2517 on Friday.
Today the GBP / USD started with -0.70% down from Friday closes. The GBP / USD is trading now at 1.2431. Last week was the best week for the GBP/USD since February. GBP/USD closed just above the 1.25 level. There are 8 events on the schedule this week.

The BoE revised upwards its forecast for economic growth, essentially acknowledging that its earlier forecasts of Brexit were far too pessimistic. The BoE also held interest rates at 0.25%, helping fuel the pound’s surge. US Non-Farm Payrolls were upbeat and wage growth improving to 0.3%, above the estimate of 0.2%. The Fed refrained from raising rates last week, but the policy statement was slightly hawkish, as the Fed gave the economy a solid report card.

Daily Support and Resistance:

Daily Camarilla Forex Technical analysis shows that GBP/USD pair may find the immediate support at 1.2484 below which 1.2481 and 1.2478 could be tested. On the other side the immediate resistance 1.2490. A break beyond the last, doors will open for a test of 1.2493 and from there to 1.2496.

Upcoming Important Economic News: (GMT +3)

1. GBP – Halifax HPI m/m at 11.30 AM

USD JPY News

The JPY declined -0.26% against the USD during USA session on Friday and the pair was closed at 103.09 on Friday.
Today Day’s Range 103.79 – 104.58

Today the USD / JPY started with +1.27%, down from Friday close. The USD / JPY is trading now at 104.40.

USD/JPY dropped 150 points last week, as the pair closed just above the 103 level. There are 5 events this week, as well as US election going to be held on Tuesday 8th, November 2016.

The Fed refrained from raising rates last week, but the policy statement was slightly hawkish, as the Fed gave the economy a solid report card. US Non-Farm Payrolls were upbeat and wage growth improving to 0.3%, above the estimate of 0.2%. The BoJ stood pat and kept rates at -0.10%.

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Daily Support and Resistance:

Daily Camarilla Technical analysis shows USD/JPY pair may find the immediate support at 103.20 below which 103.09 and 102.98 could be tested. On the other side the immediate resistance 103.42. A break beyond the last, doors will open for a test of 103.53 and from there to 103.64.

Upcoming Economic News: (GMT +3)

1. USD – Labor Market Conditions Index m/m at 6.00 pm
2. USD – Loan Officer Survey
3. USD – Consumer Credit m/m 11.00 pm
4. JPY – Monetary Policy Meeting Minutes at 2.50 PM
5. JPY – Average Cash Earnings y/y at 3.00 AM

EUR USD News

The EUR market increased +0.98% against the USD on Wednesday. Yesterday EUR USD market closed at 1.1105. Today market will range 1.1088 – 1.1110.

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Today the EUR / USD started with -0.10% in Asia, down from yesterday close. The EUR USD is trading now at 1.1094

Euro fell on Thursday away from a three-week high as the dollar pared the losses while investors favor the British pound after the BoE meeting today.

Today EUR USD last traded at 1.1094, down from the opening price of 1.1099, with an intraday low at 1.1088.

Euro’s dip against the dollar comes after the greenback pared the losses, triggering profit-taking operations after hitting a three-week high, specially as sterling surges against main rivals.

Earlier EUR USD News data didn’t help the euro hold its gains, as the Eurozone’s unemployment rate rose in September, matching expectations. Markets await the official U.S. payrolls report tomorrow, specially after the weak showing of the private sector report, and as unemployment claims rose more than expected.

 Daily Support and Resistance:

Daily Camarilla Forex Technical analysis shows that, the EUR/USD pair may find the immediate support at 1.1098 below which 1.1092 and 1.1085 could be tested. On the other side the immediate resistance 1.1112 and may go for further test 1.1118. A break beyond the last, doors will open for a test of 1.1125

 Today EUR Investors will look forward to the following economic data (GMT+3):

1. EUR – Spanish Services PMI at 11.15 AM
2. EUR – Italian Services PMI at 11.45 AM
3. EUR – French Final Services PMI at 11.55 AM
4. EUR – German Final Services PMI at 11.55 AM
5. EUR – Final Services PMI at 12.00 PM
6. EUR – Producer Price Index at 01.00 PM

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GBP USD News

GBP increased +1.23% against the USD and Yesterday GBP / USD market closed at 1. 2462.

Today the GBP / USD started with +0.12% down from yesterday closes. The GBP / USD is trading now at 1.2477.

Sterling rose on Thursday to a four-week high after the Bank of England’s meeting, at which it held interest rates and policy steady and signaled no more cuts to come, which underpinned the pound.

GBP/USD last traded at 1.2477, up from the opening of 1.2462 with an intraday low at 1.2164, and a four-week high at 1.2496.

Bank of England kept monetary policy and interest rates unchanged at their current record low of 0.25%, as well as keeping its assets buying program unchanged at 435 billion pounds.

BoE said the economy has benefited from the steep drop of the pound after the Brexit vote, hitting three-decade lows, which buoyed exports, while inflation rose as import prices rose.

The bank forecast higher inflation rates in the coming period, and for GDP to grow moderately, which pushed the pound higher today amid expectations the BoE won’t slash rates again.

 Daily Support and Resistance:

Daily Camarilla Forex Technical analysis shows that GBP/USD pair may find the immediate support at 1.2443 below which 1.2425 and 1.2406 could be tested. On the other side the immediate resistance 1.2481. A break beyond the last, doors will open for a test of 1.2499 and from there to 1.2518.

 Upcoming Important Economic News: (GMT +3)

1. MPC Member Forbes Speaks at 05.45 PM