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FX.co ★ Trading tips on EUR / USD and GBP / USD for November 25

Trading tips on EUR / USD and GBP / USD for November 25

All macroeconomic indicators in the United States did not come out as expected. The volume of orders for durable goods, for instance, fell by 0.5% instead of rising by 0.3%. But the dollar continued to rise anyway, despite the fact that the report should have led to the opposite result.

The reason was the improvement in other indicators, which economists projected to remain largely unchanged. US jobless claims fell by 71,000, offsetting the decline in orders for durable goods. New home sales also rose 0.4%, which, although insignificant, is much better than the forecasted decline of around 2.0%.

All these are completely different from expectations, so demand for dollar grew as compared to other world currencies.

Orders for durable goods (United States):

Trading tips on EUR / USD and GBP / USD for November 25

But trading will lag today because the markets will close in celebration of Thanksgiving Day in the United States. There is also a completely empty macroeconomic calendar in Europe.

Talking about EUR / USD, it is currently at 1.1180, where the area of interaction of trade forces is located. Since demand is low and there is holiday in the US, it is likely that the pair will see a slowdown in the downward cycle, followed by a pullback.

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Trading tips on EUR / USD and GBP / USD for November 25

As for GBP/USD, it fell below 1.3350, which continued the bearish trend. If the quote falls much lower, the volume of short positions will increase, which will open new opportunities for sellers.

Trading tips on EUR / USD and GBP / USD for November 25

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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