27 April 2015, EUR/USD
Euro
The dollar might return its losses. The March durable goods orders rose sharply by 4.0 % after a decrease by 1.4% in February. The Germany business environment indicator amounted to 108.6 points in April compared with 107.9 points the previous month. The Eurozone finance ministers meeting was the main event on Friday where the Greek debt problems were solved. There were no positive solutions; major events will take place in May.
The support levels are 1.0750-1.0770, and the resistance levels are 1.0900-1.0920.
MACD is in a neutral territory.
Trading recommendations
We recommend to long with the first target of 1.0900-1.920. If this level is overcome, the new target may be the level of 1.1000-1.1020.
Pound
The pair GBP/USD is supported amid the market deteriorated relations towards the dollar and by the fewer propensities to hold the Bank of England soft policy which showed the Committee monetary policy April meeting minutes, published on Wednesday. Also the pair is supported by the investors’ risk appetite. However, the market attitude towards the pound has deteriorated amid the UK retail sales unexpected decrease in March (-0.5% m/m vs. + 0.4% m/m). The pair growth was also limited amid the British pound sales within the increasing pair euro/pound and the positions correction before the weekend.
The support levels: 1.5160-1.5180 and the resistance levels: 1.5260-1.5280.
The MACD indicator is in a positive territory.
Trading recommendations
You may long to 1.5260-1.5280. The second target is the level of 1.5400-1.5420.
Yen
The market deteriorated relations towards the dollar put pressure on the pair amid the greater than expected US primary housing market sales decrease in March (-11.4% vs. -3.5%) and higher than predicted the initial jobless claims number (295,000 vs. 290,000). In addition, the US preliminary PMI by the Markit, which amounted to 54.2 in April, was lower than it was forecasted (55.7) and also put pressure on the dollar. However, the decrease is limited amid the Japanese importers demand, the BoJ super soft monetary policy and trade on the difference between the interest rates, funded by the yen as well as the positive investors’ attitude towards risk.
The support levels: 117.95-118.15, and the resistance levels: 119.25-119.45.
The MACD indicator is in a neutral territory.
Trading recommendations
Be advised to sell with the first target of 117.95-118.15. If the first target is overcome the new target will be the level of 116.80-117.00.
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