Tuesday, March 12, 2013



EURUSD dropped on Friday and closed at 1.30. The United States department of labor reported on Friday that the total nonfarm payroll employment rose by 236K jobs added in February. The Unemployment rate in the United States dropped to 7.7 percent in February. The Industrial Production in Germany remained flat in January disappointing the market expectation of a 0.5 percent rise. Support for the EURUSD is seen at 1.2964 and resistance is seen at 1.3067. The HotForex Traders Board shows that half of the traders are long on the EURUSD and half are short.


GBPUSD
The Cable dropped on Friday and closed at 1.4918. A survey of Bank of England indicated that the consumers in the United Kingdom expected the price of goods and services to increase in the next year to 3.6 percent in February. Investors are awaiting the Manufacturing Production month over month due from the United Kingdom tomorrow. Support for the GBPUSD is seen at 1.4866 and resistance is seen at 1.4979. The HotForex Traders Board shows that 81 percent of the traders are long on the GBPUSD.


source : HotForex


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