2013.01.29 : A day influenced by Consumer Confidence economic indicators
EUR/USD
All the pair managed to do yesterday was to print a double top at 1.3477, accompanied by a lot of indecision candles. The United States posted mixed data, with the Core Durable Goods Orders coming out better than expected (actual 1.3%, forecast 0.8%) and the Pending Home Sales worse than expected (actual -4.3%, forecast 0.5%) and this contributed to the ranging movement experienced throughout the trading session.
Technical Outlook
Fundamental Outlook
GBP/USD
The horizontal channel that we talked about yesterday was broken and price moved significantly lower in spite of the fact that Mondays are usually slow days.
Technical Outlook
Fundamental Outlook