The USA initial jobless claims grew | 28 tháng tư 2014

28 tháng tư 2014, EUR/USD

Euro

The USA initial jobless claims grew

The Eurozone did not please the traders with important macroeconomic releases.

The dollar fell slightly against AUD, NZD and the Yen. It grew versus the CAD and was little changed against other major currencies. The dollar fell at all pairs after the U.S. consumer confidence index was released. The Michigan University Consumer Sentiment Index rose to 84.1 in April, compared with 80 in March, and was higher than the preliminary estimates in 82.6 and 83.

The support level is 1.3810 and the resistance level is 1.3860.

MACD shows a growth.

Trading Recommendations

The euro/dollar still remains in the range. The situation has not changed. The way the pair leaves the price range will show the further price direction.

Pound

The USA initial jobless claims grew

The employment growth by 0.3% indicates the consumer confidence growth which is good for the retail sector. The moderately positive Bank of England comments about the growth prospects can support the pound as well. In the light of this we can expect the release of data slightly better median forecasts that will support the demand for the British currency. The current price level looks attractive to short-term speculators and the pair may gain weight about 0.3 %.

The support level is 1.6720 and the resistance level is 1.6800.

MACD is in a positive area, the histogram is growing.

Trading Recommendations

The situation remains the same - the inability to get up and consolidate above 1.6820 increases the risks of a downward correction. The steady 1.6842 breakdown will open the way to 1.7000.

Yen

The USA initial jobless claims grew

The Marсh inflation report was published. March was the last month when the sales tax rate was increased. That should have increased the consumer activity in Japan and have a positive impact on the CPI growth. We can expect the release of data on the level of the median forecasts that support moderate demand for the Japanese yen. The world's leading stock markets show no signs of a growth, which acts as a deterrent for the uptrend. Amid this we can expect the prevalence of bearish sentiment.

The support level is 101.70 and the resistance level is 102.30.

The indicator MACD shows the decrease.

Trading Recommendations

The pressure on the USD / JPY is still present. The risks of testing 101.59 are high. If the pair gets above 102.73 that will weaken the "bearish" pressure.

Ruban Sergey
Analyst of «FreshForex» company
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