27, March 2015

Fundamental analysis

 EUR/USD (a 4-hour chart)

The US dollar recovered after it was again under pressure - the dollar index basket (USDX) closed the trading day at the mark of 96.97. During the day the pair EUR/USD once tested the level of 1.1050 after the US durable goods orders weak data publication. However, bulls were unable to consolidate near this level and as a result the day ended with the quotations fall.

The British Bankers' Association mortgage lending positive report along side with the US negative statistics let the pair GBP/USD close the trading day in the "red zone" – the British pound has fallen.

The pair USD/JPY was dominated by the bullish sentiment. The durable goods orders decline in the United States has increased pressure on the US stock market which has caused the demand for the Japanese yen. By the end of the day the pair dollar/yen has grown.