Trading on the foreign exchange market on Thursday ended on a positive note for the dollar. The U.S. currency was able to consolidate and demonstrated significant gains against major currencies. The whole day was held for the participants of the market in anticipation of the FED meeting minutes. Who also played in favor of the U.S. dollar.
The EUR/USD started the session near the resistance level of 1.34, fell throughout the session. Dollar growth virtually stopped, additional support for the U.S. currency has had a report on the housing market, which surpassed analysts' expectations, and, by the way, has reached a 4-year value. The EUR/USD fell to 1.3330, now downward movement slowed and the euro recovered slightly. We believe it's possible to roll back to the level of 1.3350, followed by the fall of the euro will continue, traders, of course, check the strength level of 1.33 . There will be clear and there will be enough power to keep the euro bulls from a deeper decline.
The British pound closed the day nearly unchanged. After rising to the level of 1.57, the pair GBP/USD started to decline and lost all the conquered earlier position. The growth of the pound helped economic data from the United Kingdom, but later referring to strengthen the U.S. currency pound fell to 1.5630 . The pair GBP/USD declining and is trading below the support level of 1.5600 . Reduced pair may continue up to the level of 1.55, which is the next support. It's possible that may form the third wave decline GBP/USD, long-term goal of which will be the level of 1.50 . Downside risks have increased since the publication of minutes the FED, and we believe that the time to buy right now is not the best.
The Australian dollar broke through support at 0.90 and is now ready to move on. The weakness of the Australian and the growing strength of the U.S. dollar bet to reduce the AUD/USD pair is particularly attractive. When all currencies are falling against the dollar, the Aussie shows a slight increase, we believe that this behavior is similar to the classic way of rolling back after the break, the pair will rise to 0.90 and then continue to fall. Otherwise, rising above the resistance level will indicate the formation of a time range, but don't think it will continue for a long time. The bears are gaining strength, and just have to wait when they will strike a blow to the AUD/USD.
Today will be a lot of important economic statistics to keep the economic calendar, news values are a good signal to the opening position.Social button for Joomla