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There are no strong drivers for the growth

17 March 2014, EUR/USD


There are no strong drivers for the growth

Eurozone will not please investors’ interest with interesting publications. "Super - Mario" surprised the market participants again last week, this time by the fact that he said, the European regulator was seriously concerned about the rise of the euro. The conflict between Ukraine and Russia is not clear, so it will continue to put pressure on risky assets. In general, at the end of the day we can expect a downward trend.

The support levels: 1.3833-1.3810, and the resistance levels: 1.3892 -1.3914. MACD turned down, indicating a correction.

Trading Recommendations

Euro dollar came back into the consolidation corridor, and offers the market to test a mining level 1.3815. Then we expect a turn and a continued growth to a mining level 1.3990.


There are no strong drivers for the growth

The economists, surveyed by the news agency Bloomberg, expect an increase in the negative balance of nearly a billion pounds in the first months of the year. Nevertheless, the United Kingdom economy shows a steady pace of recovery, which was confirmed by the head of the Bank of England last week.

The support levels: 1.6582 - 1.6515, and the resistance levels: 1.6639 - 1.6667.

MACD turned down which signals a downward price movement now.

Trading Recommendations

The pound/dollar continues to trade in the consolidation range. The price is working on a corrective flag. Today we expect a decrease to the level 1.6530.


There are no strong drivers for the growth

Japan will not please the market with interesting reports this traders will closely monitor the world's leading stock exchanges market situation.

The support levels: 102.16 - 101.77, and the resistance levels: 102.82 - 103.43.

MACD is pointing down. If the indicator changes its direction, it may start an upward correction.

Trading Recommendations

The dollar yen has created a new reduction wave. The market is not able to turn on the level 102.65. We expect a correction channel breakdown, and the continued decline. There is a high probability to reach 100.

Ruban Sergey
Analyst of «FreshForex» company
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