29, June 2015

Fundamental analysis

 EUR/USD (a 4-hour chart)

The trading was quite enough last week. The EUR/USD was mostly in a flat above the support level of 1.1150. Investors are waiting how the Greece situation will be solved and in no hurry to open new positions. By the end of the trades the support level of 1.1150 was tested and the pair decreased.

The GBP/USD decreased after of the cross-rate EUR/GBP falling which supported the demand for the British currency. However, in general, the pound is consolidating.

The USD/JPY has lost ground amid the US and Japanese market shares downward trend. Nevertheless the pair slightly increased amid the US economic data

Meanwhile, market sentiment remained under pressure as talks between Greece and its creditors broke down again on Thursday. Greece has critical little time to find money before the impending deadline (30 June), we remind you that Greece has to pay loans in the amount of 1.6 billion euros to the International Monetary fond. If Greece misses the payment, it may declare a default which could cause its going out from the euro zone.