Start
trading

Main >
Analytics
>
Fresh forecast
>
Forex Fundamental Analysis
>
The Euro looks weak this week

The Euro looks weak this week | 28 March 2014

Euro


The Euro looks weak this week


 


The Fed decided to reduce the quantitative easing program further. The Fed noted that further reduction program will be focused not only on the U.S. labor market statistics, but also on other important economic indicators. These statements will strengthen the U.S. dollar, which has regained virtually all lost ground in March 2014.


In addition, it is worth noting the positive U.S. data that came out on the previous trading week, exerting downward pressure on the euro/dollar.


All such statistics in general confirm the fact that the U.S. economy continues to recover and the end of 2014 the Fed completely abandon the quantitative easing program.


This week the pair shall continue further falling. The possible target is 1.3700 where we shall wait for a serious bounce up.



Pound


The Euro looks weak this week




Beside the negative trade balance data and reduced investment income another negative data on the UK budget deficit was published last week. Given the above we can conclude a high probability of the pair devaluation on the current trading week.


Opportunities to sell will appear when the pair will grow to Fibonacci 38.2 or breaks the current support levels 1.6406 and 1.6328. The first decrease target is a strong support level 1.6251.



Yen


 The Euro looks weak this week


The USD/JPY last week growth supported the U.S. dollar first of all. The dollar has grown significantly after the U.S. Federal Reserve decision to keep reducing the quantitative easing program further.


Now we presume the growth will be continued and this week. We do not expect any news that will impact the pair strongly to change its direction.


Special attention should be paid to the fundamental data analysis. The data will be released on March 28 during the Asian session and point to the current state of the Japanese economy. If the forecast is justified, it will only support the growth rate. Shall the release not coincide with the forecast we can expect fluctuations on the pair.


The growth target is the level 103. Shall the pair fall it will go to 100.

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

Close
Log in

Show password

Hide password

 Forgot password?
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .

Our best awards:

FreshForex is a brand that provides access to online trading for clients from more than 158 countries all over the world. The Company's partners are the licensed European liquidity providers, banks, payment aggregators and systems with which the company has been cooperating for more than 19 years.
Clients must be at least 18 years old to use the services of the Company.
The company's services and information on the site are not intended for citizens and residents of some countries, such as Belgium, China, North Korea, France, Hong Kong, Russian Federation, Spain, Great Britain, USA, and also countries identified by the FATF as high-risk countries or countries with serious AML/CFT deficiencies; countries or regions that are under international sanctions. A complete list is available on the "Countries where the company's services are not provided" page. The Company does not have representative offices in the Russian Federation and does not register clients from the Russian Federation.
Risk Warning: Trading financial instruments with leverage carries high risks and can result in both profits and losses. Potential losses are limited by the deposit amount. Before deciding to trade, the client should assess their risk tolerance, experience, and knowledge level.

Freshforex.com uses cookies for better website operation, traffic flow analysis, and personalization. By using this website you agree to our Cookie Policy.
User Data privacy is protected in accordance with GDPR. The SSL certificate installed on the website transfers the information over a secure protocol.
The site contains links to websites of third parties. The Company does not check or control the third-party resources that are in any way related to the FreshForex site, so the Company is not responsible for any third-party information or materials posted.
By creating a link to a third party website, the Company does not endorse or recommend any products or services offered by the third party.
The website content is intended for informational purposes only. It should not be regarded as an offer or solicitation to any person in any jurisdiction in which such an offer or solicitation is not authorized. It also should not be considered as an offer/solicitation to any person to whom it would be unlawful to make such an offer or solicitation, nor regarded as a recommendation to buy, sell or otherwise deal with any particular currency or any other trading asset investment. If you are not sure about your local trading regulations, please, leave this website immediately.
© 2004—2024 FreshForex – Forex broker
Reproduction of the contents is allowed only with active hyperlink to original source.
Riston Capital Ltd (20623 BC 2012) with registered address at Suite 305, Griffith Corporate Centre, Beachmont, P.O. Box 1510, Kingstown, Saint Vincent and the Grenadines.