18 April 2014, EUR/USD
Reports from Germany that we have received over the two past weeks, indicate that the leading Euro zone economy shows a slow downward movement. Economists polled by Bloomberg, expect the consumer price index moderate growth rate, which can not provide strong support for the euro/dollar.
The investors should pay attention to unemployment claims. The four week moving average shows a decline which is favorable for the labor market.
The support levels: 1.3780 - 1.3800, and the resistance levels: 1.3870 - 1.3890.
MACD is turned up, indicating the current uptrend.
The picture for the euro/dollar remains the same. The continued demand on falling gives to bulls the hope to test the 39th figure. The support loss 1.3800/1.3790 will open the way to 1.3740-1.3720.
The positive trend in the UK labor market recovery points to a continued economic growth.
The UK’s macroeconomic statistics continues to please the bulls. The pound rose to its maximums at 1.6820 after the data release and then spent time between this level and the support 1.6782. The maximums were breached in the Asian session when the pair tested the 1.6838 level.
The support levels are 1.6780-1.6800, and the resistance levels are 1.6840-1.6860.
MACD shows a growth.
If the pair falls below 1.6782 we may consider the short positions.
Bulls failed to break above the resistance level 102.36. The Bears took the lead and dropped the dollar to the support near 101.86. The situation is very unfavorable for bulls as the inability to grow above 102.36 and return to the 104th figure is a negative factor that involves testing the support at 101.59 with its breakdown high chance.
The support levels are 101.40-101.60, and the resistance levels are 102.23-102.43.
MACD turned up, indicating the current upward trend.
The growth should not be excluded. The level 102.36 break will weaken the downward impulse and provide an opportunity to the bulls to test 103rd figure.
We are constantly improving our website quality. If you have any suggestions on how to make our website better or noticed an error on the website, please tell us