Log in

The euro renewed its highs

28 April 2015, EUR/USD


The euro renewed its highs

The euro has grown against the dollar. This growth cannot be named a confident as its purchases were followed by sales amid the Greece fate fears. The market attention will focus at the labor market reports- we expect the euro area unemployment rate decline and the Germany jobless claims decrease. The economy block mood report by the European Commission will not be left unattended that is expected without any changes after the March improvements. The last week was quite successful for the single currency which was able to continue its recovery. Having found the support around 1.0630-1.0650, it broke through the resistance near 1.0770-1.0790 and rose to the level of 1.0900-1.0920 and tested it.

The support levels are 1.0750-1.0770, and the resistance levels are 1.0900-1.0920.

MACD is in a positive territory.

Trading recommendations

The levels of 1.0770-1.0790 breakthrough improves the pair’s prospects which can continue to grow towards 1.1000-1.1020, but the pair needs to consolidate above 1.0900-1.0920. The loss of the broken through levels will call into question the euro ability to continue recovery.


The euro renewed its highs

The British pound strengthened against the dollar. This week the UK news plans to show quite extensive economic data. These data include the lending, retail sales and the housing prices dynamics reports. Expectations are connected with these indicators growth which is a positive factor for the pound. The British pound has kept a positive attitude having broken through the resistance around 1.5000- 1.5020 and having grown to the designated targets in the form of the 52nd figure. Its ability to consolidate above the broken through levels has significantly improved the pair’s prospects.

The support levels: 1.5160-1.5180 and the resistance levels: 1.5260-1.5280.

The MACD indicator is in a positive territory.

Trading recommendations

The 52nd figure breakthrough will allow bulls to test the resistance around 1.5400-1.5420.The decrease below this figure may signal about the downtrend resumption.


The euro renewed its highs

The situation in the market has inclined investors to the risk aversion and the Japanese yen strengthened against its competitor. The influencing factors will be likely two events related to the US and Japan monetary policy prospects. The Fed's decision will be announced on Wednesday and the Bank of Japan decision on Thursday. The overall picture has not changed. Initially the pair rose up to the resistance around 119.25, then it returned below this level. Thus, the pair consolidation is continued.

The support levels: 117.95-118.15, and the resistance levels: 119.25-119.45.

The MACD indicator is in a negative territory.

Trading recommendations

The dollar needs the 120th figure confident breakthrough for its growth resumption and until it happens, the downside risks towards the 116th figure will be preserved.

Ruban Sergey
Analyst of «FreshForex» company
See also:
Agree with the review?
Traders' opinion:

Do you have any suggestions to make our website better? Have you noticed an error on the site? Tell us

Tell us

Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with rendering Personal area. How to enable cookie support.