Join our community of traders FOR FREE!

  • Learn
  • Improve yourself
  • Get Rewards
Learn More

During yesterday’s trading session EUR/GBP traded within the range of 0.8145-0.8183 and closed at 0.8168.

At 6:13 GMT today EUR/GBP was adding 0.04% for the day to trade at 0.8169. The pair touched a daily high at 0.8172 at 1:45 GMT.

Fundamental view

At 9:00 GMT today Eurostat is expected to report on Euro zone’s trade balance during March. The trade surplus is expected to have widened to 16.0 billion euros from 13.6 billion in February. The trade balance reflects the difference in value between exported and imported goods during the respective period. A positive figure indicates that more goods and services have been exported than imported. Export demand has a direct link to demand for the common currency and also causes an impact on levels of production. In case the surplus on Euro zone’s trade balance widened more than expected, this would provide support to the euro.

In addition, the seasonally adjusted trade balance, which is considered as a more reliable indicator, (as it excludes trend, economic fluctuations, seasonal fluctuations, calendar effects, residual or irregular fluctuations) probably expanded to a surplus of 17.3 billion euros in March, from 15 billion in the preceding month.

Technical view

Screenshot from 2014-05-16 09:17:06

According to Binary Tribune’s daily analysis, in case EUR/GBP manages to breach the first resistance level at 0.8186, it will probably continue up to test 0.8203. In case the second key resistance is broken, the pair will probably attempt to advance to 0.8224.

If EUR/GBP manages to breach the first key support at 0.8148, it will probably continue to slide and test 0.8127. With this second key support broken, the movement to the downside will probably continue to 0.8110.

TradingPedia.com is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover Forex, Price Action and Social Trading.

Related News

  • GM’s revamped pick-ups exceed sale expectationsGM’s revamped pick-ups exceed sale expectations General Motors Co, is introducing its first redesigned pickups since 2006, and can’t keep up with outstanding demand of the most popular versions of its new Chevrolet Silverado and GMC Sierra, according to three people familiar with the […]
  • Nexstar finalizes acquisition of the CW NetworkNexstar finalizes acquisition of the CW Network Nexstar Media Group Inc (NXST) said on Monday that it had completed its previously announced acquisition of a 75% stake in the CW Network LLC from co-owners Warner Bros. Discovery (WBD) and Paramount Global (PARA).The latter will each […]
  • AUD/USD little changed, poised for the longest series of weekly losses in 28 yearsAUD/USD little changed, poised for the longest series of weekly losses in 28 years Australian dollar traded little changed against its US counterpart on Friday and was set for the longest streak of weekly losses since 1985, after Reserve Bank of Australia (RBA) Governor Glenn Stevens indicated that a weaker national currency […]
  • Forex Market: EUR/NZD daily forecastForex Market: EUR/NZD daily forecast During yesterday’s trading session EUR/NZD traded within the range of 1.5884-1.6004 and closed at 1.6004.At 6:11 GMT today EUR/NZD was adding 0.18% for the day to trade at 1.6012. The pair touched a daily high at 1.6022 during early Asian […]
  • Binary Tribune’s Trading Signals for August 26th 2016Binary Tribune’s Trading Signals for August 26th 2016 EUR/USD: Buy at 1.1274, TP1 - 1.1289, TP2 - 1.1292, TP3 - 1.1296, SL - 1-2 pips below 1.1264.Sell at 1.1296, TP1 - 1.1281, TP2 – 1.1278, TP3 - 1.1274, SL - 1-2 pips above 1.1306.If break and close above 1.1306, buy with TP at […]
  • Forex Market: EUR/GBP daily forecastForex Market: EUR/GBP daily forecast During yesterday’s trading session EUR/GBP traded within the range of 0.7890-0.7918 and closed at 0.7893.At 6:43 GMT today EUR/GBP was adding 0.06% for the day to trade at 0.7897. The pair touched a daily low at 0.7889 at 6:00 GMT, the […]