On the threshold of Catholic Easter the exchange market moves without any idea. Players aren’t very active, they prefer to fix profit before long holidays. Good data on houses sales in US primary market and growth of oil reserves according to EIA data allowed dollar to strengthen against most currencies. Still, the situation is quite unclear in general. Today there are two notable events – British retail sales and US durable goods orders. In both cases forecasts aren’t optimistic. For last days pound has lost all successes achieved during the rally after the ECB and the Fed decisions. It can be said that one more portion of negative is largely regained and pound’s reaction to negative is likely to be short-term. As usual, US statistics will become defining. Dollar remains under threat of new sales.
EURUSD pair continues to roll back from maximums of last week gradually, without sharp spurts. Short-term indicators slowly enter oversold zones. Current levels can be interesting for new purchases. To aggressive traders we recommend considering opening of long positions in the range 1.1120 – 1.1140, stop at 1.1040. In case of a pair growth of more than 30 points from the entry point, rearrange stop at the entry point.
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