15, April 2014

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

The U.S. dollar managed to regain some losses versus its main competitors. The EUR/USD was in a consolidation at a strong resistance level near 1.3800 during the day. Even the positive U.S. data failed to cheer up the “bears” to open the short positions. The production price index in March accelerated its growth to 1.4% on an annualized basis, which is the inflationary pressures increasing first sign. The consumer confidence report from the Institute of Michigan also was better than the median forecasts in April, it amounted to 82.6. Nevertheless, the investors' reactions to the strong data releases are not followed and trading day on euro/dollar ended lower by a symbolic 1 pt.

The “bulls” for the pair GBP/USD on Friday continued profit-taking on the long positions. Positive news flow from the United States only increased the “bears” pressure on the British currency. In addition, in the first half of the week, the investors reacted too emotionally to the industrial production growth rate in the UK and it was reasonably to get out of the long positions.

The USD/JPY is still under pressure amid the increasing geopolitical tensions in the world and the consequent sales on the world's leading stock exchanges. On Friday, the “bulls” had a great opportunity to finish the trading day on a positive note due to the good reports from the U.S. publication, but the negative stock markets trading dynamics failed to realize this plan.