Although the common currency moved higher against the greenback earlier today, news that some of Greece's latest proposed reform measures had not been accepted by creditors watered down investors’ sentiment and pushed EUR/USD lower. Will we see the exchange rate below 1.1100 in the coming days?

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Yesterday’s data, which showed that U.S. existing home sales rose by 5.1% (to the highest level since November 2009) continued to weight also today, supporting the greenback and pushing the USD Index above the level of 95. As a result, USD/CHF moved sharply higher and broke above 3 short-term resistance lines. Will we see further rally in the coming days?

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Although EUR/USD moved sharply lower earlier today, the exchange rate reversed as the Greek government submitted a new package of economic reforms to its creditors, indicating that it is prepared to make concessions to break a deadlock to unlock bailout funds. As a result, the common currency bounced off the short-term support and climbed above 1.1400. Will we see further improvement in the coming week?

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Although USD Index moved sharply lower after Wednesday’s FED statement and extended losses on the following day, hitting a monthly low against the basket of major currencies, the greenback reversed after solid job data, which showed that that initial jobless claims fell by 12,000. Earlier today, the Bank of Japan left its monetary policy unchanged, which resulted in further improvement in USD/JPY. Will we see a post double-bottom rally in the coming week?

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Although Fed Chair Janet Yellen said the economy has “expanded moderately” after a weak first quarter, Fed officials lowered expectations for GDP growth in 2015 (the second time since December) and its interest-rate projections. As a result, the USD Index moved sharply lower, declining below 95. Earlier today, the index extended losses and hit a fresh three week low. What impact did this decline have on the short-term picture of our six currency pairs?

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