EUR/USD continues to grow

The main currency pair continues to grow at the start of the Tuesday market due to the positive decisions of the Federal Reserve.

EUR/USD seems to be moving in the direction of growing even stronger. This is the sixth consecutive growth of the main currency pair. This time around, the investors are not worried about the upcoming Federal Reserve meeting and are looking forward to Janet Yellen giving positive signals for growth.

Last night it has been revealed that, the number of unfinished contracts for the purchase of property, according to NAB, have risen by 3.7% in March after a 0.5% drop the month before. In their commentaries, the agency’s specialists state that this fact is rather informative, as it is leans on the objective public demand. These factors can be used as a basis for a projected growth of the property market.

The usual time for finalizing a contract for the purchase of a property takes 1.5 to 2 months, suggesting that this statistic gives rather objective signals.

So far, the bullish investors on the EUR/USD are looking towards 1.39, and will take the target as soon as the market allows it. Today it is worth taking a look at the publication of statistics for the consumer confidence index in the US for April.

RoboForex Analytical Department


Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.