EURUSD losing ground as the FOMC Meeting Minutes indicated that FED might start tapering its stimulus package by the end of 2013. Series of high-impact economic release due today.
EURUSD dropped yesterday and closed at 1.3523. The United States dollar strengthened against the single European currency after the latest FOMC Meeting Minutes indicated the willingness of the policymakers to start tapering the size of the bond buying program by the end of 2013. In the Eurozone the Industrial Production in Germany rose 1.4 percent month over month in August. Investors are now looking forward for the speech of the United States Treasury Secretary Jack Lew, the Unemployment Claims release and the speech of the President of the European Central Bank Mario Draghi. Support for the EURUSD is seen at 1.3490 and resistance is seen at 1.3562. The HotForex Traders Board shows that 60 percent of the traders are short on the EURUSD.
http://blog.hotforex.com/wp-content/uploads/2013/10/EURUSD-10-October-2013.jpg
GBPUSD
The Cable dropped yesterday and closed at 1.5953. The Industrial Production year over year in the United Kingdom dropped 1.5 percent in August. The NIESR GBP Estimate rose only 0.8 percent during the last 3 months which ended in September. Investors are now looking forward for the MPC Rate Statement, the Official Bank Rate and the Asset Purchase Facility due from the United Kingdom today. Support for the GBPUS is seen at 1.5913 and resistance is seen at 1.6023. The HotForex Traders Board shows that 56 percent of the traders are short on the GBPUSD.
- See more at: http://blog.hotforex.com/eurusd-losing-ground-as-the-fomc-meeting-minutes-indicated-that-fed-might-start-tapering-its-stimulus-package-by-the-end-of-2013-series-of-high-impact-economic-release-due-today/#sthash.PcK8jzWF.dpuf
EURUSD dropped yesterday and closed at 1.3523. The United States dollar strengthened against the single European currency after the latest FOMC Meeting Minutes indicated the willingness of the policymakers to start tapering the size of the bond buying program by the end of 2013. In the Eurozone the Industrial Production in Germany rose 1.4 percent month over month in August. Investors are now looking forward for the speech of the United States Treasury Secretary Jack Lew, the Unemployment Claims release and the speech of the President of the European Central Bank Mario Draghi. Support for the EURUSD is seen at 1.3490 and resistance is seen at 1.3562. The HotForex Traders Board shows that 60 percent of the traders are short on the EURUSD.
http://blog.hotforex.com/wp-content/uploads/2013/10/EURUSD-10-October-2013.jpg
GBPUSD
The Cable dropped yesterday and closed at 1.5953. The Industrial Production year over year in the United Kingdom dropped 1.5 percent in August. The NIESR GBP Estimate rose only 0.8 percent during the last 3 months which ended in September. Investors are now looking forward for the MPC Rate Statement, the Official Bank Rate and the Asset Purchase Facility due from the United Kingdom today. Support for the GBPUS is seen at 1.5913 and resistance is seen at 1.6023. The HotForex Traders Board shows that 56 percent of the traders are short on the GBPUSD.
- See more at: http://blog.hotforex.com/eurusd-losing-ground-as-the-fomc-meeting-minutes-indicated-that-fed-might-start-tapering-its-stimulus-package-by-the-end-of-2013-series-of-high-impact-economic-release-due-today/#sthash.PcK8jzWF.dpuf