29, January 2014

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

There was a contradictory trend at the Forex on major pairs. In early European trading session there was a EUR/USD quotation growth amid a positive report on business optimism from the IFO Institute. However the “fuel” for growth from the “bulls” ended at 1.3716, after that a technical rebound happened. Investors are in no haste taking positions before the FED meeting. The trading day ended near the support level 1.3670. The GBP/USD was in demand during the day amid an empty macroeconomic calendar from the UK investors worked out a “oversold” of the British currency.

In Japan the day before the data on the balance of foreign trade in December were published. The overall balance came out worse than the forecast was and the corrected balance data showed a negative balance reduction. In the moment of the data publication the Japanese yen showed a slight growth, however then a technical correction to the two-day fall was observed. The “Bulls” could lift the pair 102.92, however there was not enough force and the trading ended at the level 102.73.