After three days without important data from the global economy, today we will get some figures from several countries, which can increase the missing volatility in the market.
EUR/USD Return to 1.069 possible
After the pair has dropped below the level of 1.070 on Tuesday, yesterday we have seen a slightly recovery back to 1.074. Overall the situation for this pair has not changed. The for 8:00h and 8:45h CET announced figures for the German and French are expected on a low level, and they could only have an positive impact, if they exceed the forecasts. So in early trading a slightly increase of this par could be seen, but it could turn to the opposite when the first US-Data are published at 14:00h CET. If there was no significant impact in the morning, good data from the United States could turn the direction towards 1.069.
GBP/USD Correction
The pound sterling profits from the 0,1% decreased unemployment rate in the UK and the speach of BoE gouvernour Carney and rose to 1,515. Today no economic data from the UK are announced, and this gives time to take a view on the overall sittuation i the UK. The discussion about the vote about the membership in the EU gets more details, and the conderns about the negative consequences for the the British economy are growing. From the technical view the price reached the resistance at 1.515, and without any positive news from the UK, a correction with 1.569 as the first target is possible.
USD/JPY towards 123.24
Yesterday the yen could make some ground against the greenback, mainly due to the lack of data, and droppes back below 123,00. While more and more speculations coming up Japan is running in a recision, the uptrend should still be etablished. So after the corretion yesterday the pair could rise again with the first target at 123,15.
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The opinions of the author to market behaviour does not constitute a solicitation to buy or sell any financial products, but are merely a personal opinion. When you go into the trade in leveraged financial products, you must be aware that a loss up to the amount of your deposit is possible, and in addition can also be an obligation to arise. Make yourself familiar with active trading or get independent advice before you invest your own money and use only money to invest that you can lose in the worst case.