28, April 2015

Fundamental analysis

EUR/USD (a 4-hour chart)

The pair EUR/USD was in demand amid the energy prices growth. As the oil prices are denominated in the US dollar - their growth leads to the dollar decrease. As a result, the trading day ended with the quotations growth for the pair.

The bullish sentiment dominated and in the pair GBP/USD. Traders continued to build up long positions, even though the US durable goods orders positive release which indicates the strong buyers’ presence in the market. By the end of the day the pair GBP/USD had increased.

The pair USD/JPY was trading different directed. The correction continuation in the Japanese stock market with the oil prices growth cheered bears to short. By the end of the day the pair dollar/yen had decreased after a slight growth.

It should also be noted that the US 10-year bond yields failed to consolidate above the level of 2% last week which deprived bulls the strong trump card within the dollar. But we should not forget that this week the main event is the US RFU meeting on Wednesday 29 April and in this regard, traders will not rush with the positions opening.