The EUR/USD is trading around $1.2070, down 0.25% on the day and extending the falls seen on Thursday. French GDP and Spanish CPI fell below expectations, adding to the pressure.
The USD/JPY is trading around ¥109.35, marginally higher on the day. The Bank of Japan left its policy unchanged and abandoned an explicit time frame for reaching the 2% inflation target.
Bitcoin climbed back above $9,000 threshold late on Thursday after a short period of consolidation around $8,700 area. Hourly 200-SMA provided as strong support and served as a good base for the recovery that took BTC/USD to $9,200.
Ethereum price analysis: ETH/USD back on positive track as community follow Buterin-Coindesk quarrel.
Ethereum recovered above 200-DMA to trade at $656 at the time of writing. The second largest coin gained about 2% on the day with short-term sentiment remains positive as long as it stays above $620 support.
Ripple regained $0.83 handle, which represents 50% Fibo retracement of the last decline from $1.200 to $0.4596. This is a positive development that implies further recovery towards $0.85 (100-SMA, hourly chart).
Stellar beats the market with another stellar rise. The coin gained over 10% since the start of the day and reached the new record high at $0.4249 amid insatiable demand from speculators.
The ECB left policy rates unchanged as expected and left the future of its asset purchasing program unchanged citing caution in providing ample liquidity at times of forward-looking indicators slowing down. Although the ECB attributed the current slowdown to temporary factors it still remained ultra-dovish saying further progress is needed to achieve its goals of price stability.
The Bank of Japan kept the monetary policy unchanged as widely expected in April.
China's Premier Li Keqiang said he will open to trade negotiations with the US.
The UK GDP is expected to retain the 0.4% quarterly rise in the first quarter, but the chances are for the GDP to surprise on the downside ar the retail sales had a negative growth contribution at the beginning of this year.
The US first-quarter GDP is expected to rise 2.3% on an annualized rate.
EUR/USD at risk of falling to 1.2100
Another week ends with the EUR/USD pair unable to abandon its comfort zone around the 1.2300 figure. Indeed, intraday trading was a bit more entertained, and some nervous back and forth suggest that it won't be long until a decision is made.
The Technical Confluences Indicator shows that the EUR/USD is trading above a dense and potent cluster of support lines. If it falls over, it could turn into an avalanche. The $1.2155 line is the convergence of the Pivot Point one-week Support 2, the PP one-month S1, the Bolinger Band 1-hour Lower (Stdv. 2.2), the 1d-high and the 4h-high.
Should it fall, the next significant cushion is only at $1.2060. This is the meeting point of the Pivot Point one-day S3 and the PP one-week S3.
On the topside, the EUR/USD faces massive resistance. $1.2190 is the confluence of the BB one-day Lower, the Fibonacci 38.2% one-day, the Bolinger Band one-hour-Upper, the BB 15-Upper, and the Simple Moving Average 100-15m.