EUR/USD (a 4-hour chart)
There was enough volatility for Forex at the end of the last week. The EUR/USD ended the trading day at the opening level despite the weak Eurozone macroeconomic data. GDP release on Q1 came out worse than the median forecast; the final figure was 0.2 % qoq, indicating the region structural problems. Among the leading economies of the euro area only in Germany the data were better than the median rate prognosis while the Italian economy went all into the negative region by 0.1%.
The reduced euro/pound cross supported a moderate demand for GBP/USD during the Friday. The Eurozone negative macroeconomic statistics cheered "bears" to open short positions in the cross-course. The "bulls" in the GBP/USD went hunting amid the short-term oversold against the British pound against the U.S. dollar.
Japan's GDP report for the 1st quarter pleased investors with strong data - the final figure was 1.5 % qoq that is better on 0.5% than consensus prognosis. The low sales tax helped the Japan economy in the first three months of this year, triggering a high consumer activity. The positive report supported the moderate demand for the yen in Asian trading session. Do not forget about the stock exchanges trading dynamics. Investors take profits on world markets shares after prolonged growth which sparked a price drop wave. Amid these, the decline in dollar/yen and lost 0.3 % were observed on the day.