EUR/USD is changing the course | 11 Marzo 2014

11 Marzo 2014, EUR/USD

Euro

EUR/USD is changing the course

EU and the USA will not publish interesting macroeconomic reports today. Geopolitical risks went into the shade now, still the situation remains unsolved - Russia threatens to cut off gas supplies to Ukraine over debts, which in its turn can give a new turn in the confrontation between the two countries.

Another leading indicator, - the spread enlarging between 10-year U.S. and German bonds, is pointing to a possible dollar growth.

The support levels: 1.3810-1.3772 and the resistance levels: 1.3892-1.3968.

Trading recommendations

The bullish 1.3910 breakout may lead to a resumption of the uptrend to 1.4310. But the probability of this is lower than the rollback down, which will allow the pair to stay in the channel for a while. The first downtrend target is 1.3810.

Pound

EUR/USD is changing the course

In the absence of macroeconomic releases from the UK and U.S. investors take a pause; the trading activity is low. A medium-term trend is directed upwards, but for the continued growth we need serious drivers. In general, we can expect a side movement during the day.

The support levels: 1.6660 - 1.6600 and the resistance levels: 1.6730 - 1.6757.

Trading recommendations

The resistance 1.6750/30 knocked off bulls' attempts to break down this barrier and the price goes down again to the consolidation range that is at 1.6690/80 now.

The resistance 1.6750/30 break will confirm an upward movement to 1.6800 and further to 1.6850/80. Still if the pair gets below 1.6620/10 that will sign about the downtrend beginning.

Yen

EUR/USD is changing the course

The yen was growing in the first month of the year, the official reserves grew to $ 10.3 billion as well. The positive leading indicators allow us to calculate the reduction of a negative payment balance. The economic growth revised figures are expected to show a decline to 0.9 %, which will constrain the strengthening of the Japanese yen.

The support levels: 102.82 - 102.16 and the resistance levels: 103.37 - 103.91.

Trading recommendations

A small correction to the support level 102.70 is possible. Strong U.S. news will push USD/JPY to the resistance 105. The pair's outlook is positive, and after a brief consolidation we expect an uptrend to test the local maximum 105.40.

Ruban Sergey
Analyst of «FreshForex» company
¿De acuerdo con la revisión?
Opinión de los comerciantes:
Close
Iniciar sesión
Su navegador no admite cookies. Si la cookie está desactivada en su navegador de Internet, es posible que tenga problemas con la representación del área Personal. Cómo habilitar el soporte para cookies.