12, February 2015

Fundamental analysis

 EUR/USD (a 4-hour chart)

The pair EUR/USD pair consolidated near the 13th figure amid the lack of important macroeconomic statistics from the Eurozone and the US. Traders took a wait-and-see position and against this background there was a sluggish trade.

The pair GBP/USD tested the 52nd figure in the first half of the day after the weak industrial production release. The index decreased by 0.2% in December while traders expected a growth by 0.3%. At the moment quotes reached the level of 1.5200 after which there was a trend reversal. The US and UK negative bond yields reduction encouraged bulls to long.

Strong growth on the world's leading stock markets supported demand for the USD/JPY during the day. Traders used correctional movement to build up long positions and as a result, the pair has grown up.