Fundamental analysis for May 21, 2015

21 May, 2015

The US dollar strengthened significantly relative to its main competitors - the dollar index basket (USDX) finished the trading day at the mark of 95.46. The pair EUR/USD came under attack amid the ECB stimulating measures increase rumors. By the end of the day the pair euro/dollar had decreased.

During the day the pair GBP/USD was also under pressure amid the UK April weak inflation data. The CPI went into the negative territory for the first time since 1960 and against this background the trades ended with the quotations decrease despite a correction was observed earlier.

The bullish trends in the world's leading stock markets contributed to demand for the pair USD/JPY which by the end of the day had increased.

Taking in consideration the oil prices decline traders expected demand for the US dollar before the US Federal Reserve last meeting minutes publication. Bearing in mind the US low inflation expectations, we expected the "pigeon rhetoric" in the report and in this regard an upward rebound in the market.


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Pound tested 1.3200 and stopped

The buying interest persists in the market. All technical indicators are positive supporting buy orders. The resistance lies at 1.3300, the support comes...

Brent failed to approach 49.50

Sellers kept driving the benchmark lower the whole night and found an obstacle at 48.50. The resistance lies at 49.50, the support lies in at 48.50 dollars...

DAX index turned bearish

The benchmark broke 12600 first and then weakened down to 12527. Bulls returned control in the early European session and returned the price to 12600...


Gold bounced from its upper limit

We expect the spot to retest 1240 in the short-term. Should sellers succeed they may lead the pair down to 1230. If the level stands the spot...

Gold price reached important target

The prices have reached their important target of 1260 and this was only a bounce and a correction of the downtrend...

Dollar setback due to recent PCE date

Today is last day of the month and FED's members speeches are to be announced therefore the market volatility growth is expected...


Gold has jumped to 1265 level

The resistance holds at 1280, support comes in at 1245.9. Major resistance is highlighted at 1295.4. Next target is set at 1350...

Gold prices bounced off

The spot was struggling to build onto the recovery during the night trades. Buyers lost their steam at 1265 where the pair found some fresh offers....

Golld turned around and reversed

The bullish trend remained intact on Tuesday. The price bounced from the upper limit...

  


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