EURUSD euro/dollar’s upward rally continues
On the background of the fall of stock markets and a “soft” FOMC protocol the euro/dollar was able to complete last week with the growth to 1.1388. The collapse of indexes continued, and with it continued the upward rally of the pair , in which, yesterday was tested the 1.1713 level. A break through of resistance in the 1.1466-1.1533 is positive for the euro, which gives a reason to assume the formation of the base and the development of an upward dynamics towards 1.2000. However, the fundamental factorsthe growth of the euro is not supported by, so his purchases at the current levels are pretty risky. Possible rollback in the area of 1.1466, a loss of this level will lead to a reduction in the direction of 1.1200.
GBPUSD Achievements of the pound/dollar remain modest
On the background of the euro/dollar’s achievements the British pound against the US currency looks very modest. The closing of last week held below the 57th figure, which, the bulls managed to break through yesterday. However, above 58 th figure they failed to break through while rollbacks downward are limited by support at 1.5722. The growth of the pound/dollar was restrained by the fall of pound in cross with the euro, so the correction in cross can contribute to a sharp increase in the pair. Therefore, to avoid the movements in the direction of 1.6000 is not worth it.
USDCHF Dollar/franc is falling rapidly
The demand for “risk-free” assets led to a significant drop in the US dollar, from which won and Swiss franc. Thus, by the end of last week, the dollar/franc fell to 0.9459. With the beginning of the week continued to fall, and bears have tested support at 0.9258, and then dollar got back above the 93rd figure. The pressure on him is remained, and with it the risks of re-testing of 0.9258. In order to easing the downward pressure, the dollar needs to rise up and consolidate above the 0.9459-0.9500.
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USDJPY Dollar/yen fell following the stock indexes
Falling of stock markets “pulled” behind a pair of dollar/yen, which by the end of the last week dropped to 121.81. This week, it continued to fall, allowing the Bears to test support at 116.18, after which there was a rebound to the level of 120.10. The pressure is maintained, and the bears can retest the 116.18. However, it should be noted that the further dynamics may also depend on stock indexes, the recovery of which will support it.
