The GBP/USD keeps strenghtening

20 April, 2015

Euro
The euro growth is limited after the European Central Bank stated that it had expected to implement the quantitative easing program fully the size of which is trillion euros. The euro area consumer prices harmonized index amounted to 0.1% on the annual basis in March, compared with 0.3% in February and the preliminary assessment of -0.1%. While the US was publishing the consumer price inflation and consumer sentiment index data.
The support levels are 1.0750-1.0770, and the resistance levels are 1.0900-1.0920.
MACD is in a positive territory.

Trading recommendations
We recommend to sell with the first target of 1.0610-1.0630. If this level is overcome, the new target will be 1.0480-1.0500 to short.


Pound
Great Britain published the wages and employment data this week. The UK unemployment rate fell from 5.7% in January to 5.6% in February which corresponded to the forecasts. The level of average earnings in the UK, taking into account premiums, increased by 1.7% in February compared with a growth by 1.8% the previous month as it was forecasted + 1.8%. The pound received additional support. Another reason to buy can be the US economic data, if, of course, it once again shows disappointing results.
The support levels: 1.4880-1.4900 and the resistance levels: 1.5000-1.5020.
The MACD indicator is in a positive territory.

 

Trading recommendations
Be advised to short to the target of 1.4880-1.4900. The second target is the level of 1.4750-1.4770.


Yen
The pair dollar/yen is under pressure from the negative attitude towards the US dollar after the latest data that had shown weaker than expected growth in the US number of housing foundations in March and the larger than expected US building permits reduction in March and greater than expected the US initial jobless claims March 5-11 number. The US Treasury bond yields decline has also put pressure on the pair (the 2-year bond yields was 0.487% versus 0.504% on the Wednesday evening) and the Japanese exporters’ sales.
The support levels: 117.95-118.15, and the resistance levels: 119.25-119.45.
The MACD indicator is in a negative territory.

 

Trading recommendations
Be advised to long to the first target of 119.25-119.45. Shall the price overcome the first level the second one is the level of 120.20-120.40.

Ruban Sergey
Analyst of «FreshForex» company


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Range 1.5586-1.5651

Daily chart: the pair continues to be a wide flat range within the envelope Bollinger (1.5417-1.5711). Expectations: touching zone 1.5586 and rising to 1.5651...

We do not expect much volatility today

The daily chart: it is likely that flat status of ADX forecast to the Pound the day with a low volatility. We expect a calm trading around the middle Bollinger band (1.56)...

Flat day

Daily chart flat state of ADX and Bollinger envelopes say that the pair will spend the day (and the nearest time) within the present range: the upper envelope (123.39-125.17)...


Target is at 125.17

Daily chart: the upper Bollinger band rose even higher - at 125.17 and now this mark is an actual target for growth. So, we wait for growth to 125.17, but in the area of 124.47 we can probably meet turbulence and a possible rollback...

We shall buy to 125.09

Daily chart: the pair has predictably broken Inside bar up and now is moving to the upper Bollinger band (125.09) (125.09)...

Looking for short signals from resistance 1.1140 or 1.1224

Daily chart: the Euro preserves a growing tendency and continues to rise to the upper Bollinger band (1.1224), which, given the state of ADX, is likely to be corrected downwards to the middle band (1.10)...


Weekly review: gold, S&P500, Brent oil

Monthly chart: scenario of reversal is justifying itself. Northern marks are still achievable, but the bullish momentum has depleted to a notable extent...

Support is possible around 1.0789

Daily chart: Euro is still forced down. Currently the target is 1.0789 (the bottom Bollinger band). Somewhere you meet a significant support for a correction and as a result new sales area to move on trend...

Weekly review of S&P500 index, oil and gold

Monthly chart: bulls bolted off to work on the upper Bollinger band (2190.6), but ADX is persistent in its decline, so we are waiting for a downward reversal...

  


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