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We should augment long positions with USD/JPY

28 March 2016, EUR/USD

The events, which should pay attention to today:

00.30 pm GMT, USA: Private consumption expenditures index for February (its previous rate 0.3% m/m; forecast 0.2% m/m).

Great Britain, Germany, Switzerland - bank holiday.

We should augment long positions with USD/JPY


Today, we again do not see strong movements of the currency pair. The majority of financial institutions is off today. Tomorrow we can expect splash of volatility, as market participants return to work after a four-days vacation. And today we can earn money only in the US trading session, when the report on the PCE will be released. Indicators on the retail and home sales indicate that US citizents begin to save more rather than spend and in this regard, today we do not expect a strong data. In this regard, in the afternoon we can expect a moderate growth of the pair EUR/USD, however, in my opinion, this growth will be very modest because of low volumes.Against this background, during the day we expect the flat range 1.1130 -1.1215.

Alexander Goryachev
Analyst of «FreshForex» company
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