Parabank

Pairs

Technical analyses

Forecast

EUR/USD

Last week, dollar showed a steadily strengthening. Euro, reaching a three-day peak at around 1.4070 showed a rapid decline next days, as we expected. Our forecast at 1.3820 was almost met with an error of only 11 points. The pair reached 1.3830, and stopped decline. The "black oil" market lost its position day after day.

Beginning of the week was positive for the U.S. dollar. Auctions in Europe were accompanied by active purchases of the U.S. currency, thus reflecting the deterioration of investors' attitude toward the prospects for the global economic recovery. This week, we expect fall in oil prices and strengthening of dollar.  The EUR/USD pairs could continue to decline if hits a strong support which is 1.3820 - 1.379 that includes large orders for purchase. Thus, the "triangle" figure, which increases the probability of drop.

Short-term aim

1.3730

USD/JPY

Long-term decline in the U.S. stock markets has led to growth of the attractiveness of the Japanese currency as a means of savings in financial assets. Technical indicators point to the imminent restoration of the pair. Indicator MACD indicates a possible continuation of heavy auctions, as it is not known whether the correction was completed. A 91.72-mark has served as a support for the pair. Indicators show an oversold level in a daily schedule.

Recommendation:

Open small position for purchase for fixation

GBP/USD

The decision of the Bank of England not to increase the quantitative easing program can provide pound with transparency. To activate the bulls, it is necessary to hit a 1.6380-mark until the pair looks very weak and it is possible to move towards 1.5790 level. It should be noted that this week on Tuesday and Wednesday strong data on the UK will be divulged: such as, home-price index, unemployment rate. A. Pocen will make a speech on the appointment to the Board on monetary policy of the Bank of England.

1.5790

EUR/JPY

The pair met the local support of a127.70-mark, which is likely to be the completion of the downward trend. The result of this trend could be price increases to the level of resistance of 130.90, after which a cut is expected. At present activity of bulls increased, the purpose of the medium-term growth rate is the announced level. Indicators began to signal a weakening upward correction, the dynamics of momentum, which is illustrated by the indicators in the graph, is consistent with the pricing schedule, which indicates that there are no unreasonable price surges. In an hour-graph, the oscillator MACD demonstrates short-term sentiment, the histogram crossed the zero axis, while the moving average indicator is also overlap in the descending direction.

126.10