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25.08.202211:19 Forex Analysis & Reviews: Trading tips for EUR/USD and GBP/USD on August 25

The market is clearly frozen in anticipation of tomorrow's speech by Jerome Powell. Most likely, the head of the Federal Reserve will clarify the further pace of interest rate hikes.

In terms of statistics, durable goods orders in the US did not make any impression as the volume remained unchanged. But the previous data was revised for the better, from 1.9% to 2.2%.

Orders for durable goods (United States):

Exchange Rates 25.08.2022 analysis

Today's data on jobless claims is also unlikely to affect the market even though the number of initial applications is forecasted to increase by 17,000, which is a lot. This is because the estimate for repeated requests have been revised for the better, that is, a decline by 1,000 instead of a rise by 5,000.

Continued claims (United States):

Exchange Rates 25.08.2022 analysis

Obviously, investors will not take risks, preferring to wait for Powell's speech tomorrow.

Exchange Rates 25.08.2022 analysis

EUR/USD formed a short-term flat within 0.9900/1.0000. A temporary slowdown can serve as a process of accumulation of trading forces in the upcoming acceleration in the market.

Exchange Rates 25.08.2022 analysis

GBP/USD rebounded from the support level of 1.1750. This reduced the volume of short positions, which slowed down the downward cycle. Most likely, the pair will continue to concentrate for some time within the base of the trend, then show impulse moves.

*La presente analisi del mercato ha un carattere esclusivamente informativo e non rappresenta una guida per l`effettuazione di una transazione.

Mark Bom,
Analytical expert of InstaSpot
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