Bulls’ defensive line

By GG Analyst in Reviews 0 Comment

EUR/USD

The revised statistics on the US GDP in the first quarter proved to be even worse than that poor growth rate of 0.1%, which we saw a month ago. The revised data showed that the economy was shrinking at the pace of 1.0%. These data are really poor, yet they were soon diluted by quite favourable employment data. The weekly unemployment claims decreased to 300K, which is much better than the expected 321K and the preceding rate of 327. The continuing claims are still in the downtrend, making now only 2631K. This unemployment downtrend was exactly that very factor, which outweighed more…

Losses of EU currencies

By GG Analyst in Reviews 0 Comment

EUR/USD

Spurred by the increased demand for US assets, EURUSD fell down to a fresh three-month low at 1.3587. Investors’ outflow from the sterling looked really remarkable – it was going on simultaneously and was even more conspicuous. And all this happened without any clear signals of weakness in the eurozone as well as in Britain. This state of affairs sends us to seeking reasons outside Europe. The price of US stocks, in the meantime, is rallying and remains in the overheated zone. There is a feeling that EU currencies are losing investors right to ensure stock purchasing in the USA and more…

Don’t say that we haven’t warned

By GG Analyst in Reviews 0 Comment

EUR/USD

Despite the fact that the currency’s depreciation after the drop below its 200-day MA doesn’t look swift and impressive, the downward movement still exists. Now the single currency can hardly find any support in the news. At least, in the news of the eurozone. Wednesday’s data on the German employment proved to be very poor. Instead of the expected decrease in the number of the unemployed by 14K in May, we saw its growth by 24K. For all that, the unemployment level remained unchanged – 6.7% – the lowest one since the Germany’s reunification. Yes, now there is no doubt about more…

EU currencies get support from stock growth

By GG Analyst in Reviews 0 Comment

EUR/USD

Yesterday’s growth of stock exchanges helped the single currency in thin trading. While the main capital markets (Britain and the USA) were closed, stock index futures were attacking the new highs. Thus, S&P 500 not only managed to set a new record at 1900, but also to close out the day above that level. In the meantime, the technical analysis shows that this indicator is overbought. Strictly speaking, it doesn’t promise an immediate reversal at these levels. So those who play against the market should be more careful. The current position of the index urges to look out for the moment more…

EUR: a broken boundary

By GG Analyst in Reviews 0 Comment

EUR/USD

Strengthening of right-wingers in the European Parliament has complicated the position of those, who insist on austerity measures. It was quite expected that the number of euroskeptics would grow, but the actual growth has proved to surpass the forecasts and, as a result, put the single currency under pressure on opening of the trading day. Trading is now close to 1.3620, whereas the lowest level reached by the pair was 1.3612. Technically there is some reason for this poor beginning of the day. The single currency closed the week below the important 200-day MA, which promises growth in selling as large more…