Starting with yesterday news. While EUR currency had overall good results from news and we saw a clear bullish movement, due the continuation of the bad sentiment, again dropped when US session started. On the other hand the sentiment of the GBP currency was mixed but the investors didn’t support it towards bullish later that day, we believe that still there is a strong momentum to show to us. As for USD, in spite of the fact that the calendar news where bad for this pair, the investors in fact support the overall good sentiment for this recovering US economy.
Based on today News most important are: at 9:00am London time, Spanish Unemployment Change for Europe. Construction PMI at 10:30am is definitely something we can’t ignore for the GBP as England supports and pay attention a lot to the real estate investing. Later today CAD news at 2:30pm is our main concern as commodity dollars getting some good momentum due to the china news also. We expect volatility on both EU and US sessions to occur.
The pairs we should expect to have the clearest movement, are: EUR/AUD, EUR/NZD and EUR/GBP for bearish signals, NZD/CHF, AUD/CHF for bullish. With combination of the fundamental news, the pairs with the major volatility should be EUR/GBP, EUR/NZD and EUR/AUD. Note: don’t ignore CAD pairs.
Support 1: 1.3973 (Opening 02/03/15 and the lower band of Daily BB)
Support 2: 1.3820 – 1.3800 (Low Prices 23rd January and 24th January)
Resistance 1: 1.4085 (Upper band of the BB 4H timeframe and High price 2nd March 2015)
Resistance 2: 1.4171 (MA20 Daily and high price 25th Feb 2015)
Support 1: 1.4267 – 1.4280 (Todays Low price and 4h Timeframe Lower Band)
Support 2: 1.4145- 1.4165 (Lower Prices 27th and 28th January)
Resistance 1: 1.4441- 1.4450 (High price 2nd March – Upper Band 4h BB)
Resistance 2: 1.4530 (MA20 Daily Timeframe)
Support 1: 0.7395 (Lower Band 4h Timeframe – 27th February)
Support 2: 0.7315 (MA20 Daily Timeframe)
Resistance 1: 0.7547 (Upper Band BB Daily Timeframe)
Support 1: 1.4779 (Lows of 2nd March -27th February -16th January)
Support 2: 1.4750 (Lower Band of Daily BB)
Resistance 1: 1.4905 (High 2nd March)
Resistance 2: 1.4970 (Upper Band 4h Timeframe )
Support 1: 1.7150 -1.7160 (26th and 27th Lows)
Resistance 1: 1.7316 (Upper band BB Daily Timeframe)
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Written by Konstantinos Stavgianoudakis