28, February 2014

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

The U.S. dollar significantly strengthened its position. The housing sales report in the primary market in the United States in January showed a steady growth to the mark 468,000, which only increased the pressure on the pair EUR/USD. Virtually all important macroeconomic releases for the first month of the year came out negative and the "bears" has been long awaited this positive surprise.

The United Kingdom released the second estimate of GDP for the 4th quarter. The indicator has not been revised and remained at the same level, at around 0.7 % q.q. During 2013 the economic growth was revised up to 1.8 %, from 1.9 % level. The bulls are clearly counting on the best reports, but still tried to take the game into their own hands. In the afternoon, "bears" took the initiative in their own hands, which led the British currency sales
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In addition, for the first time in many weeks States are pleased market participants with the positive report. Housing sales in the primary market in January showed the strong growth, which is may serve as a leading indicator of continuation recovery of the world's leading economy.

The Japanese yen strengthened versus its U.S. counterpart. The consumer confidence negative report from the Conference Board helped bears to push the quotes further down.