29, August 2014

Fundamental analysis

EUR/USD (a 4-hour chart)

The main American currency competitors could return some lost ground. The EUR/USD gained 0.2% against the partial profit taking on the short positions. No important macroeconomic statistics have been published, and after the price drop to the level of 1.3160 traders started to close the "shorts", which allowed the euro to correct to the 32nd figure. Nevertheless the pair decreased.

The GBP/USD is trying to test 1.6535-1.6600 short-term trading range upper bound, but the bears fought off the attack which indicates the pessimism presence about the British currency prospects. Amid the empty macroeconomic calendar we again observed a side trend.

The Japan and the United States stock market quotations decrease cheered the bears to short opening. However, we have not seen the American currency strong sales - the bulls are still buying the rollbacks and we observe the consolidation within the range of 103.70-104.15.