EUR/USD Slightly Recovers After U.S Data

The EUR/USD has slightly recovered from its previous downward trend and this upward trend has been caused by the ISM Non-Manufacturing PMI that weakened the U.S dollar. Its result was the weakest ever since July 2013 and another important data was the Factory Orders that projected good results reducing the negativity on the U.S market.

Today morning at 7.00am the data of the Unemployment change and German Retail Sales will be released and the more important data to look forward to is the EU CPI that is coming out at 9.00AM (GMT). Figures remain low for the European Union since it is fighting with its low inflation and this may see ECB making use of its toll to make its figures rise.

The U.S trade balance will be released at 1.30PM (GMT) and its trend is slightly bearish seeing the resistance lying at 1.3680 with its support levels at 1.3565.

The GBP/USD moved on an upwards trend going back to its above 1.6400 and during the Asian session it saw the pair moving on a downward trend to below 1.6390. Data coming out from the U.K. Services PMI was not favourable and this can cause the pair to slide down after the conclusion of the FOMC meeting. At 1.30PM (GMT), we should wait for the data release of the U.S. Trade Balance figures which is bearish with its resistance lying at 1.6470 and support levels at 1.6365.

The USD/JPY was ranging between 103.90 to 104.83 experiencing a gain of 100 pips. Its resistance levels are lying at 104.80 and support levels at 103.90. The expected U.S data made the pair to drop rapidly and overnight there was a rapid increase of 46.6% in the Japanese Monetary Base.