The cable is pushed down below 1.7

By GG Analyst in Reviews 0 Comment

EUR/USD

Yesterday’s EU PMIs stirred pleasant surprise in the markets. Almost all preliminary indexes ( for Germany, France, the eurozone) proved to be in the green area, surpassing all the expectations and preceding values. The Composite PMI for the eurozone in general grew to 54, which is beyond the expected and previous 52.8. These data put considerable influence on the course of trading and changed attitude to the single currency. The pair managed to recover from the unreasonable selling before the beginning of active trading in Europe. Then bears pushed EURUSD down to 1.3437. On the tide of positive EU statistics the more…

USD bulls in search for stops

By GG Analyst in Reviews 0 Comment

EUR/USD

The single currency is helplessly crawling along the bottom of this week’s range. Yet it is remarkable that the attempts to send the pair down don’t stir due interest among buyers. This morning, for example, for no particular reason and even before the release of PMI stats EURUSD was pushed down to 1.3437, that is 20 pips below the daily open. Supposing that technically the pair will target at the support level near the preceding local low, we can expect a reversal only near 1.3290. It means that bears have a figure and a half in store. However, we can hardly more…

EUR is down against USD and GBP

By GG Analyst in Reviews 0 Comment

EUR/USD

Yesterday bears intensified their pressure on EURUSD, pushing the pair down to the lowest levels since last November. Now trading is held close to 1.3460. Bulls simply didn’t have enough strength to buy out EURUSD at 1.3520, so the strong selling impulse sent the pair down and now the latter doesn’t hurry to rise from there. Softness of the ECB’s monetary policy (the recent rate cuts and preparations for TLTRO) combined with the cyclic slowdown of the economy after quite a decent growth in the first quarter don’t make the single currency the best candidate to grow. Besides, yesterday the USA more…

Forex is again trading sideways

By GG Analyst in Reviews 0 Comment

EUR/USD

EURUSD still looks as if it was nailed to 1.3520. Yet, to be more exact, there were attempts to bring the pair above 1.3550, but they proved to be futile. Earlier, when risk demand was directly correlating with the pair’s performance, the increasing geopolitical risks put pressure on the euro until it caused growth of energy prices. However, now the divergence between the currency market and other asset classes looks more and more obvious. The convergence is observed only as far as the influence on the prospects of interest rates is concerned. The euro is not affected by the growth of more…

USD’s futile attempt to trigger stops

By GG Analyst in Reviews 0 Comment

EUR/USD

The story with the Malay plane combined with closeness of the local lows in EURUSD provoked emergency liquidation of long positions. The pair was picked up below 1.35, but before that it managed to gather stops after reaching 1.3490. Bears were very close to the annual lows, set in early February (1.3476), but failed to cross them. Anyway, the week was closed above 1.35 and this morning the single currency was still being purchased.  Now the pair is trading at 1.3540, having come off the dangerous lows, which are able to provoke further decline. There is no important news scheduled for more…