Fundamental analysis for May 22, 2015

22 May, 2015

The US dollar was trading different directed - the dollar index basket (USDX) finished the trading day at the mark of 95.64. By the end of the day the pair EUR/USD increased. Earlier the pair decreased amid the Germany and the US negative bond yields increase.

The Bank of England in its monetary policy last meeting minutes revised upwards the GDP forecast for the first half of the year which caused the profit-taking wave on the short positions within the pair GBP/USD which by the end of the day had increased.

The Japan GDP rose up by 0.6% in the first quarter which exceeded the traders’ expectations; however, this factor could not help the Japanese yen which was under pressure amid the carry trade transactions increase. By the end of the day the pair USD/JPY had increased.


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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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