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The EUR/USD may return to the growth


The EUR/USD may return to the growth

The euro was steady against the dollar on Friday as disappointing data on consumer sentiment in the U.S. boosted demand for the dollar, while the concern about the violence in Iraq continues to exert pressure.

The euro gained some support after the data release which showed that industrial production in the region increased by 0.8% in April, exceeding the forecasted increase 0.4%. The March figure was revised down to 0.4% with 0.3% of previously reported.

Trading recommendations

We advise to short with the first target 1.3435. After overcoming this target it will be relevant to sell to the mark 1.3367.


The EUR/USD may return to the growth

The pound was traded near the one-month high against the U.S. dollar on Friday after the USA consumer sentiment disappointing report put some pressure on the dollar, while expectations of interest rate hikes by the Bank of England will soon support the pound.

The demand for the pound is still supported by the data released last Wednesday that having shown that the unemployment in the UK fell to 6.6% in the three months to April, the lowest level since early 2009. The consensus has fallen to 6.7% from 6.8% in the previous three months.

Trading recommendations

The pound is recommended to buy to 1.7000. After overcoming this level the price might go to the level 1.7116.


The EUR/USD may return to the growth

The U.S. dollar rose against the yen on Friday after the Bank of Japan decided to keep the monetary policy program easing, as investors awaited the economic reports release in the United States later the same day.

In its monthly statement on monetary policy the Bank of Japan said it would continue to expand the monetary base at a pace of 60 trillion to 70 trillion yen in the year that was expected step. The BOJ head Haruhiko Kuroda said last week that the central bank's measures had shown its results, an improvement of the situation in the economic order. Meanwhile, the sentiment on the dollar remained fragile after the controversial U.S. economic reports on Thursday.

Trading recommendations

We advise to sell with the first target 101.88. If the pair overcomes the first target, sell orders will be relevant to the target 101.28.

Ruban Sergey
Analyst of «FreshForex» company
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