• Dollar torgovalcya different directions against colleagues G10 during the European session on Friday. He surpassed AUD, NZD, CAD and GBP, in that order, while it was lower compared with the SEK, CHF, EUR and the NOC. The dollar is trading almost unchanged against the yen.
• Today also published the German Ifo survey for May. Business climate index fell to 108.5 from 108.6. Although lower, but he still has expectations of the market decline of 108.3. The current assessment index continued to move northward, reaching 114.3 from 114.0 and revised in April, significantly above estimates of 113.5. Only the expectations index showed a marked decrease (103.0 vs. 103.4), but it was in line with market expectations. In contrast to the decrease in ZEW survey released on Tuesday, and weak German preliminary data of industrial and service sector PMI on Thursday Ifo indices are the exception recent disappointing data coming out of the country. Today's release triggered hopes that Germany is still the engine of growth in the euro area and pushes the EUR / USD is slightly higher. This adds to my view that EUR / USD may still challenge the 1.1200 resistance in the near future. The breakthrough, which can stimulate customers to seek our next level of 1.1280.
• After a few minutes, ECB President Mario Draghi reiterated the call for the reform of the euro area economy. He said that monetary policy works and improves the way for the economy, growth is dialed, and inflation expectations have recovered from the recession. However, he noted that recovery does not alone solve all the problems in Europe, and that monetary policy is an occasion for governments and parliaments to delay their efforts to reform.
• traded somewhat lower during the European session Friday, despite the fact that the data Ifo above expectations. The price remained below the resistance line 11920 (R1). This leads me to believe that we are likely to experience a minor correction before the index will take the path above. A break above 11920 (R1) of the barrier is needed to restore a positive short-term picture, which could serve as an impetus to the expansion of our next line of resistance 12100 (R2). Our short-term oscillators confirm my view that continued resistance may appear. RSI leaned down and MACD can fall below the trigger soon. There is also a negative divergence between RSI and price. On the daily chart, the index rebounded from a long-term uptrend. It holds a long-term way to the top, in my opinion. Therefore, I believe that any short-term extensions can provide renewed buying opportunities.
• Support: 11740 (S1), 11420 (S2), 11200 (S3)
• Resistance: 11920 (R1), 12100 (R2) 12280 (R3)
