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Forex signals news: unpredictable result

On Thursday the situation on the Forex market was a little bit intensive because of most market participants (including Forex Signals developers) were waiting for the Bank of England to release the interest rate. According to the predictions, the rate was remained at the same level – 0.5%. And the retail sales in Eurozone were to reduce for 1.2% in spite of predictions. At the same the positive Forex news (for Forex signals providers and market traders, of course) are continuing to come from the United States, which makes the USD suppress its main European rivals.

Due to that at first EUR/USD tried to rise up a bit and even managed to reach the market point of 1.4446. But then the price was driven down very quickly and the minimum of the day was set as 1.4298, which turned out to be little surprising for some Forex signals systems developers. GBP/USD was also to fall down, but not as much as EUR/USD – the day’s maximum of 1.6057 was reached in the first part of the day. But after that the market price rolled down and as the result the trading day was finished at about 1.5930.

Friday, January 08, 2010 is expected to be extremely important and news-rich day for the Forex traders, Forex signals providers and other market participants. The point is, that everybody will be waiting for the release of news from the United States: unemployment rate, wholesale inventories and, of course, change in nonfarm payrolls, which can turn the situation on the market inside out. And some useful info will be also released in Europe: the Eurozone GDP, trade balance, current account, changes in import and export in Germany.

At this rate the EUR/USD is likely to fall down to about 1.4200. GBP/USD might finish the trading day near the point of 1.5900. But the situation remains pretty strange at the moment and the basic market support and resistance lines could be broken in a second.

by Jonathan Halprid
January 8, 2010
See Forex Analysis and Forex Forecasts for the previous days there:
January 6, 2010 Active Forex signals day
December 30, 2009 New Year Forex trading!
December 29, 2009 Tuesday’s Forex signals
December 28, 2009 Short Forex signals week

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