25, September 2014

Fundamental analysis

EUR/USD (a 4-hour chart)

The EUR/USD decreased at the trading day end. Before this the pair has completed a minimum quotation increase by 0.1%. Markit Economics has published a large number of France and the Germany releases. The France PMI as well as in the euro area also were released. It should be noted that in general, the data came out worse than the forecasted medians which confirms the economic growth slowdown in the European countries. Nevertheless, the traders ignored the negative statistics.

The GBP/USD has also demonstrated a lateral trend. The EUR/GBP cross-rate quotations decrease and the US moderately negative statistics on the business activity index in the manufacturing sector supported the pound demand.

The yen counterattack will not be long after the USD/JPY drop to 108.50/108.20, it is necessary to open long positions. The Japanese stock market closed the main session in the "red zone" that led to the dollar/yen sales. But then the bulls began to open "longs", based on the strong uptrend continuation. The US industrial sector PMI release was a little worse than the forecast, but the investors ignored these statistics.