30, April 2014

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

The “bulls” and the “bears” were not able to identify the winner during the key pairs’ trades. The EUR/USD traded within the 1.3814 - 1.3879 range. The ECB officials have stated the high euro exchange rate, which carries the risks for inflation in the euro zone. However, the euro/dollar has ignored this message and the quotations growth was observed on the background of the rising trend in global equity markets. The United States real estate market report was published. It was the data on pending houses sales. The figure rose up to 3.4 % in March which is the increased consumer confidence another proof. So, there was a moderate demand for the U.S. dollar.

The “bulls” in the GBP/USD pair tried to storm the strong resistance level 1.6841 for the second time, but the attempt was unsuccessful this time. The prices reached the level 1.6856 at the moment. The “bears” entered the game after the positive data from the U.S. real estate market release and the British currency fell down to the 68th figure.

The pair USD/JPY gained 0.2% amid the demand for risky assets, as well as a positive report on pending home sales in the U.S. in March. The median figure was better, than it was expected, which in conjunction with other reports indicates an upward trend in the real estate market. The release on retail sales in Japan in March was published. The final index came in at 6.3 %, which is better than the market’s expectations. Nevertheless, the strong yen strengthening due to this background is not followed, the investors realize, that the main reports are still ahead and on this background are not in a hurry to open the short positions in the pair dollar/yen.