EUR/USD (a 4-hour chart)
We had a volatile the last trading day. The EUR/USD gained 0.1 % against the negative macroeconomic statistics from the United States. The second GDP estimate for Q1 came out worse than the median forecast, indicating a significant decrease in the world's leading economy in the first three months of this year. However, we have not seen the sharp dollar fall – euro downtrend is strong enough and one negative report is not enough to change the trend now.
There was consolidation near 67 figure on the GBP/USD during the last trading day. The technical analysis shows that the British currency is short-term oversold now and the investors quickly close their short positions. It should also be noted that the market participants have ignored the negative statistics from the U.S. GDP for Q1.
Though the world's leading stock markets strong growth - the USD/JPY has been swung for 4 consecutive days that can be a sign of a possible decrease in the short term. The U.S. GDP data revision also could not cheer the "bulls" to open long positions - according to the second estimate the index dropped to 1 % qoq which means the world economy locomotive significant slowing.