U.S dollar gains ahead of U.S data !

USA16 clcy8s min
USA16 clcy8s min

We’re almost 25 min away of U.S Michigan Consumer Sentiment (May).The US dollar rises almost against most pairs, let’s take a quick at major pairs:

EURUSD: The pair found resistance at the 1.1368 levels stability below this level on a 4-hour closing basis could push the pair further lower towards the 1.1290 levels, a halt is likely but further down will open 1.1250 levels.

On the upside, resistance comes at the 1.1368 levels, sustained breakout above this level is needed to restore the upside momentum, If seen, the focus will be on the 1.1445 levels.

EURUSD_H4_May15

GBPUSD: the pair found resistance at the 1.5750 levels, stability below this level on a 4-hour closing basis could push the pair further lower towards the 1.5670 levels ahead of the 1.5630 levels.

On the upside, resistance comes at the 1.5750 levels, sustained breakout above this level is needed to restore the upside momentum, If seen, the focus will be on the 1.5815 levels.

GBPUSD_H4_May_15

Conclusion: Watch out; negative US data may bring limited gains for EURUSD and GBPUSD before the next fall, positive data may bring further losses……stay tuned for updates…..

 

MARKET DATA

UPCOMING ECONOMIC EVENTS