21, April 2014

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

The “bulls" and "bears" failed again to determine the winner in the pair EUR/USD. The empty macroeconomic calendar and the Easter holidays keep the pair at one place. The USA released Initial Jobless Claims last Friday. The report was better than the median forecasts indicating the employment growth in the economy. In the light if this "bears" were able to push the pair down.

Some support for the "buck" had growth -The U.S. Treasury yields growth and good economic data could support the greenback.

In the GBP/USD pair during the last trading session we saw an increase, investors continued to regain a positive report on the labor market in the UK. The pair could consolidate on a strong resistance level 1.6800. The traders were fixing profits on long positions amid the positive macroeconomic data from the United States.

Stock-jobbing are trying to use the "bulls" in their favor at the pair dollar/yen. However the Japanese monetary authority’s unwillingness to start an additional quantitative easing limits the further upward movement. The USA Initial Jobless claims added some optimism about the overseas labor market recovery after the winter slump that supported the demand for the U.S. dollar.