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

September 28, 2016
Asian shares traded in green as Europe slowly plunges
US Dollar can't get out of the range of 95.00-95.50 after the FED has investors waiting for the results of Algiers meeting, where Oil officials will try to work out measures to level energy market volatility...
September 28, 2016
Sagging Fed expectations
As discussed yesterday, markets will increasingly obsess about the US election over the coming few weeks, but beneath that the economy will determine if the Fed hikes interest rates before the year is out...
September 28, 2016
Market volatility on a comeback
Financial markets may experience extreme levels of volatility in the coming weeks as the catalytic combination of sporadic oil prices, ongoing Brexit anxieties and anticipation ahead of the U.S presidential election leave investors on edge...

FXTM Rating
Grand Capital Rating
OctaFX Rating
FXCM Rating
OANDA Rating
FOREX.com Rating

365BinaryOption Rating
OptionFair Rating
Grand Option Rating
Beeoptions Rating
OptionBit Rating
Empire Option Rating