They sold Euro before Draghi’s speech

By GG Analyst in Reviews 0 Comment

Mario Draghi

EURUSD

Traders could not resist the tension. After quite stable growth inside a tight channel the pair broke its support at 1.1350 and went down for more than a half figure. Today traders have enough time before the coming Draghi’s speech, therefore they are not in hurry to buy cheaper euro but instead boosting selling. Except risks of monetary policy, pressure to common currency caused either by higher demand for risky assets that makes the protective function of the common currency less attractive. Moreover, we should notice good indicator of home sales. Existing Home Sales in March added 5.1% that was higher more…

Market accelerated at dollar’s selling

By GG Analyst in Reviews 0 Comment

Euros

EURUSD

Yesterday the pair was developing its attack during the whole day, almost reaching the area of consolidation from the beginning of April. They did not have enough reasons for firmer step. Tomorrow the pair will face another press-conference of Mr. Draghi. Last years this event creates high volatility for euro and can compete with payrolls release. The pair’s rise was supported either by Building permits from the USA. Instead of expected growth by 2% it lost 7.7% and this was the decline for the fourth month in a row. Housing starts in March increased even more – by 8.8%. Today the more…

USD stepped more back

By GG Analyst in Reviews 0 Comment

US Dollar

EURUSD

The pair renewed yesterday’s daily peaks, persuading traders more and more in its intentions to continue its uptrend after drop on April,13. We should understand that bulls are “walking on the thin ice” since this week ahead we have ECB meeting and following press-conference of the Chairman Mario Draghi. Six weeks ago, his comments made during such conference crossed out the whole effect of more than expected interest rate decrease. We suppose this time he tries to present himself not being at the edge of monetary policy possibilities. Moreover, IMF summit held last weekend has reflected less criticizing approach towards ECB more…

Birth of oil trend changing

By GG Analyst in Reviews 0 Comment

Oil

EURUSD

The pair is showing that short-term bottom was formed in the end of last week. At the moment it reaches 1.13 without any significant news and comments. More confidently we can comment the short-term turn after hitting resistance level at 1.1320 (38.2% rebound from April peaks), then the nearest target may become 1.1350 level, and later on – 1.14 and 1.1450. In the news today we are waiting for release of Housing market index from NAHB, though we are not expecting it can move market seriously. Tomorrow’s Germany and Eurozone ZEW Economic sentiment have much more chances to move the market. more…

EURUSD broke out and fell

By GG Analyst in Reviews 0 Comment

EUR vs USD

EURUSD

Common currency yesterday finally left the tight range. The drop was fast since the traders did not wait for confirmation of a short-term negative impulse, having gathered all the support levels. As the result, common currency is trying to consolidate this morning near 1.1250 level, one-and-a-half figure lower that Wednesday opening levels. It is quite hard for the pair to continue falling in a short-term, hence we can wait for a correction. During the correction it is important to pay attention to a rebound that can transform to the new growth wave. Therefore, it is important to follow up support levels, more…