27 Maret 2014, EUR/USD
Euro
We do not expect any interesting macroeconomic releases from the Eurozone in the lights of this background we can expect a side trend. In the U.S. trading session the States will publish a report on orders for durable goods. Despite the U.S. economy recovery after a significant decline in December and January - now few prerequisites for good output data better median forecasts. Perhaps the presence of a short-term demand is expected.
The support level 1.3740 and the resistance level 1.3810.
MACD indicates an upward movement.
Trading Recommendations
The overall picture remains unchanged; the inability of a rising above 1.3844 will be an opportunity to get profit with possible decrease to 1.3720.
Pound
The UK won’t please the investors with a publication of interesting reports. The inflationary pressures compression certainly has been a major negative factor for the British currency growth. Late last year, the institutional investors are actively opening long positions in the GBP/USD pair with the expectation of a speedy increase in interest rates by the Bank of England. Now this investment idea is questioned, due to a lower consumer price index.
The support level: 1.6550 and the resistance level 1.6600.
MACD is pointing up, indicating the current price correction movement.
Trading Recommendations
Traders have a negative sentiment versus the pound, the decrease risks to the 64th figure are preserved. The growth and the ability to consolidate above the 66th figure will weaken the bearish pressure and endanger the breakdown resistance level 1.6653.
Yen
The "Bulls" and the "Bears" can’t determine the winner for 4 days. A set of an important macroeconomic statistics from Japan will be issued today and it’s possible that the investors will decide to wait now. We expect the U.S for durable goods release, which also will not be able to become a major driver for a growth. In general, during the day we can expect the development of a side trend.
The support level 101.90 and the resistance level 102.30.
MACD goes down if the indicator changes its direction to upward, it can become an upward movement.
Trading Recommendations
The overall picture remains unchanged. The falling below the 102nd figures gives bears opportunity to test the support level 101.59. In its turn, the rising above 102.68 will jeopardize the 103rd figure.
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