24, June 2014

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

The EUR/USD was moderately decreased after the long positions had been closed. The bearish sentiment prevailed amid the lack of the news. The Eurozone consumer confidence in June came out worse than the forecast was which only confirms the negative trends in the region economy.

This week we expect the pair to grow further as it has all conditions for it.

The pound is still supported by the BoE rate growth expectations. Traders believe it will happen much earlier than the Federal Reserve plans.

The BoJ stated that the monetary authorities were ready to change the policy without hesitation if any risk appears. This statement is confirmed by the fact that despite all the positive comments about the prospects for economic growth - The Central Bank is still concerned about the sales tax increasing which took place on April 1. In the light of this the negative reports will support the USD/JPY in the future. The world's leading stock market closed the trading week with a steady growth in a price which supported the demand for the pair last Friday.