The EURUSD Descends to 1.3380
Yesterday, the EURUSD pair returned below the 34th figure, descended to 1.3380. The market activity was at a very low level and a decline by 20 points is hardly to be called as a movement. The general forecast for the pair remains unchanged: a probability of growth to the resistance around 1.3431 is kept despite yesterday’s decline. A breakout through the level will lead to growth to 1.3475. The inability to overcome the resistance around 1.3397-1.3431 will cause profit-taking by “bulls” that can return the euro to a downward direction.
The GBPUSD Expecting Important Events
The GBPUSD still trades with a negative sentiment while there are almost not any movements. Yesterday, the pair was staying in a tight range between the levels of 1.6770 and 1.6795. Today, in the Asian session it moved slightly below to 1.6758, and in the European session it increased to 1.6779. The immediate target for “bears” is still the support around 1.6720-1.6700. Tomorrow, data on labor market in Great Britain and ECB inflation bulletin will be published and press-conference by Mario Draghi will be held. These events can significantly influence on the dynamics of the pound, so, taking into account the low market activity, it is better to refrain from taking actions before them.
The USDCHF Staying Near the 91st Figure Again
Our positive forecast for the USDCHF is confirmed. “Bulls” continue to keep control over the situation, despite a decline in the USDCHF pair to 0.9032. Yesterday, the pair was marking time, trading between the levels of 0.9056 and 0.9066. Today, the dollar is trying to increase again, approached the resistance around the 91st figure. Its breakout will lead to growth of the currency to 0.9200-0.9218. To weaken an upward momentum “bears” still need to return below a psychological level of 0.9000.
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The USDJPY Would Return To the 102nd Figure
The inability of the “ USDJPY bears” to overcome the support around 101.59 again is confirmation of kept demand for the dollar. Besides, the U.S. currency is unable to develop a full-fledged movement. Yesterday, it traded between the levels of 102.02 and 102.22. Today, in the Asian session the dollar has reached the level of 102.36. Having consolidated above 102.00-102.20, “bulls” can rely on subsequent testing the 103rd figure. In turn, a breakout through 101.59 will signal about resumption of a descending correction.
