Partner Center Find a Broker

Data dump who?

A parade of Japan’s economic data was not enough to move the popular majors and crosses today.

That doesn’t mean we won’t see crazy price action from the London playas!

First, here are the biggest headlines that you may have missed in the last few hours.

Currency Snapshot

Major Forex Pairs Price Performance from MarketMilk
Major Forex Pairs Price Performance from MarketMilk

Fresh Market Headlines & Economic Data:

Upcoming Potential Catalysts on the Economic Calendar:

  • Germany’s retail sales at 6:00 am GMT
  • France’s second GDP reading at 6:45 am GMT
  • Swiss KOF economic barometer at 7:00 am GMT
  • Euro Zone CPI at 9:00 am GMT
  • Canada’s GDP at 12:30 pm GMT

What to Watch: EUR/GBP

EUR/GBP 1-hour Forex Chart
EUR/GBP 1-hour Forex Chart

Optimism over the EU’s €750 billion ($826 billion) coronavirus recovery program (PEPP) helped push the euro higher after it had broken below an uptrend against the pound. It also didn’t hurt that hard Brexit worries are once again getting headlines.

EUR/GBP is now on a range with .8900 as support and the .9000 MaPs serving as resistance.

If today’s set of lower-tier reports print weaker than expected, then we could see EUR/GBP hit the mid-range levels near the SMAs. EUR/GBP’s daily ATR certainly shows this is possible.

But remember that ranges reflect indecision and EUR/GBP could still break above .9000.

If euro bulls get enough momentum to break .9000, then we could see EUR/GBP trade at .9050 before seeing some resistance.