EUR/USD Now Falling After A Week High
The EUR/USD is finally on a downward trend after having absorbed its last week’s data and its support level decreased to 1.3580. The pair followed went on a low without any economic releases and the market was quiet. Mario Draghi, the President of European Bank would have to consider making other decisions if the Euro remained strong. The increase of the pair could have been caused by China since it holds the third world’s international reserve asset controlling the Yuan thereby strengthening the Euro.
Investors and binary option brokers should look at the release data of the French Industrial Production that is to be released early morning and also keep watch on the U.S. JOLTS Job Openings. At present, the support level is at 1.3580 and resistance at 1.3660
The GBP/USD brought some great trading opportunities to traders. When the European session started, the pair was high and turned bearish after the release data of Non-Farm payrolls that gave profits to the U.S. Dollar. The pair recovered on it’s down movement during the American session and was traded at 1.6810. The pair could expect some pressure coming from the release data of the U.K. Manufacturing Production that is expected to show an increase of 0.4%. Currently, the move is sideways with its support level at 1.6780 and resistance at 1.6845.