14 March 2014, EUR/USD
Investors are closely watching the geopolitics, and in the case of the situation aggravation they are ready to take profits on short positions opened overnight. February retail trade release was published in the USA. The dynamics of the wholesale trade was negative at the first month of the year, which, coupled with a rise up in unemployment, indicates on the weak retail sales report. In the light of this, we can expect moderate growth in the euro/dollar.
The support level is 1.3860-1.3833, and resistance level is 1.3910-1.3968.
MACD is pointing down, indicating the current downtrend.
In technical terms, the euro is quite able to fall more and test 1.3810. If the pair is not able to hold above 1.3810 it may bounce up. Still we believe the pair will decrease in a middle term.
Last few days the British currency lowered versus its U.S. counterpart. The "cable" has a chance to regain some of the lost positions on the back of weak macroeconomic data from the U.S.. The release of retail trade data is slightly worse than the median forecasts was. In the light of this we can expect a growth to the resistance 1.6660.
The support level is 1.6600-1.6585, and the resistance level is 1.6660-1.6687.
MACD is pointing up to the current upward price movement.
The pound/dollar continues to attract sellers. The bulls inability to consolidate above 1.6660 is a negative sign. The fall below 1.6600 would increase the risks of a confident support 1.6583 breakdown.
Japan will publish a report on orders for machinery and equipment in January. This indicator is a leading one in the industrial sphere. The economists, surveyed by news agency Bloomberg, expect the growth rate compared to December last year. Historically, a positive report often causes a weakening of the Japanese yen.
The support level is 101.60, and the resistance level is 101.90- 102.
MACD is pointing down, indicating to the current downtrend.
The U.S. dollar tried to rise up above 103.00 versus the Japanese yen, but at the level of 103.09 sellers took control over the market, the pair fell down to 101.55. Recovery attempts are now limited with the resistance at 101.90. Falling below this level had worsened the pair’s outlook, and it may fall down and test 101.20.