The pound keeps strengthening further

Euro

The pound keeps growing further

The situation about the euro and the dollar has not changed from the previous trading session. There are no important macroeconomic statistics from the Eurozone. The pair declined again below the support near 1.1320-1.1340 where it was bought out again and it rose above this level. The US macroeconomic statistics was published that is more important than the Janet Yellen speech was negative for the dollar, so we can talk about the just appeared chance for the euro recovery.

The support levels are 1.1320-1.1340, and the resistance levels are 1.1440-1.1460.

MACD is in a neutral territory.

Trading recommendations

The resistance of 1.1520-1.1540 breakthrough will confirm the bulls’ readiness to take this chance. The downtrend will be preserved within the euro in the long term.

Pound

The pound keeps growing further

The pound as well as other majors had spent the previous session in the side trade and closed the day against the dollar on the opening prices. We shall get the approved February mortgages from the Banking Association (BBA) that expected with an increase to 36.2 from the previous 35.7. The British pound was able to maintain a positive attitude in tandem with the US dollar, and it could rise above 1.5490-1.5510.

The support levels: 1.5470-1.5490 and the resistance levels: 1.5560-1.5580.

The MACD indicator is in a positive territory.

Trading recommendations

It is possible the resistance of 1.5570-1.5580 testing in the short term. The loss of the support level of 1.5395-1.5415 will lead to a reduction towards 1.5330-1.5350 where the bulls’ activation is possible.

Yen

The pound keeps growing further

The pair dollar/yen growth was replaced by a sharp drop amid the “hawkish” tone absence in the Fed governor’s speech. However, sales only leveled the Japanese yen initial losses and the previous session closure the pair produced on the opening prices. The Federal Reserve speech in the Banking Committee Senate reduced expectations, concerning the interest rates increase in the middle of the year. It is obvious that the bulls were aimed at the 120th figure, but the Janet Yellen speech made its adjustments and after the mark of 119.25-119.45 short-term break, the pair dropped below this level.

The support levels: 117.95-118.15, and the resistance levels: 119.25-119.45.

The MACD indicator is in a neutral territory.

Trading recommendations

The pressure on the dollar is still preserved and it can again test the support around 117.95-118.15. Its breakthrough will open the way to the 117th figure.
Check the website for more information: https://freshforex.com/analitics/fresh-forecast/fa/issue_60533.html

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