The GBP/USD keeps strenghtening

April 20, 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

Publication source
FreshForex information  FreshForex reviews

March 1, 2017
Market Volatility Expected Ahead of President Trump's Speech
In a speech that will be watched by millions of viewers in the United States and around the world, the President is expected to speak of his presidency and address pressing issues like his plans for health care, the tax system, the military, and his goals for his administration...
March 1, 2017
Oil in danger of sharp reversal
The price of oil has pulled back today after a Jump in US oil inventories which analysts say offset any production cuts from OPEC...
February 28, 2017
Gold opened the week inside of a consolidation zone
A close below the support at 1250 could see XAU/USD extend its declines down to 1240. Nevertheless, the upward structure remained in place. The lower limit of the upward channel lies around 1240. Buyers may find fresh bids around the level...

Tickmill Rating
Grand Capital Rating
FX Giants Rating
Fort Financial Services Rating
Orbex Rating
Vantage FX Rating

Migesco Rating
Beeoptions Rating
Empire Option Rating
OptionBit Rating
24option Rating
Anyoption Rating