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The pound rached the top. What's next?

11 April 2014, EUR/USD


The pound rached the top. What's next?

The U.S. Federal Open Market last meeting minutes report was published. The pair went up after this publication, breaking the resistance at 1.3845 and testing the level 1.3870. The recessions are limited by the support level 1.3845 now.

The support levels: 1.3820 - 1.3772, and the resistance levels: 1.3820 -1.3966.

MACD shows a “bullish” trend.

Trading Recommendations

Despite the “bulls” persistence, the pair dynamics do not inspire confidence, and the closeness of the last few years high levels and overbought signs appearing create ideas about sales. The nearest targets are 1.3720, 1.3620, 1.3545.


The pound rached the top. What's next?

The pound/dollar traded in a tight range bound 1.6764 and 1.6724 before the Federal Committee last meeting minutes report publication. After the publication the pair jumped to 1.6800, and 1.6820 was tested during the Asian session.

The support levels are 1.6785 - 1.6725, and the resistance levels are 1.6822 - 1.6870.

MACD is growing.

Trading Recommendations

The pair is overbought, the short positions are worth of paying attention. The stop is higher then the current high levels, the main goals are 1.6600, 1.6500, 1.6300.


The pound rached the top. What's next?

Yesterday, the dollar/yen consolidated after a rather sharp fall down. The 101.59 support successfully copes with its job, at the same time the resistance level 102.13 limits the attempts to rise.

The support levels: 101.64 - 101.19, and the resistance levels: 102.89 - 103.43.

MACD indicates a decline.

Trading Recommendations

Probability of the support breakdown remains high; in this case we should expect the support 101.20 testing, the loss of which will lead to the falling down to the level 100.75.

Ruban Sergey
Analyst of «FreshForex» company
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