Real threat of Scotland’s secession

By GG Analyst in Reviews 0 Comment

EUR/USD

The single currency stays in the narrow range of just 30 pips between 1.2930 and 1.2960. The pair is not strong enough to either start growth or to resume falling after the continuous decline. Thursday’s drop was the biggest intraday movement for more than three years. Even the favourable data on Germany’s trade balance, published during the EU session today, failed to initiate correction. The trade balance showed surplus of €22.2bln against the expected 17.3. Exports also grew more than expected, by 4.7% against the forecasted 0.6%. Traders preferred to disregard it and focused on import reduction, which can promise decrease more…

EUR is crushed by the ECB

By GG Analyst in Reviews 0 Comment

EUR/USD

The heaven tumbled down for the single currency yesterday. The sudden decline of the core interest rate and other accompanying rates by 10bp forced EURUSD to fall down from the daily open of 1.3150 to 1.2940 by the end of the day. The pair was last seen that low more than a year ago. Then, in 2013, it found support near 1.2750, which leaves much space for maneuver regarding further decline. Though on the other hand EURUSD is so oversold that to stimulate depreciation today the US employment statistics should be unbelievably good. It is expected that the US employment will more…

USD launches a flank attack

By GG Analyst in Reviews 0 Comment

EUR/USD

The single currency hit a fresh local low, falling down to 1.3108, but bears were not strong enough to test 1.31. We should say that despite the expected beginning of the ECB’s QE on Thursday, the single currency is depreciating against the dollar much less than its rivals like the pound, yen and the Aussie (read below). Today the main risk for the pair is posed by the Final Services PMI. If this index has been considerably revised in comparison with the preliminary data, it may affect the course of trading. Unfortunately for the euro, now there are plenty of downward more…

A threat to correction against USD

By GG Analyst in Reviews 0 Comment

EUR/USD

Once again the single currency suffered pressure  in the morning. The low set at 1.3118 yesterday during the Asian session held for about a day. At the time of this writing the local low in the pair is 1.3111. The decline is accounted for by the expectations of the QE by the ECB this week. At least, by the expectations that clear parameters, size and the commencement date will be announced. It should be mentioned that these are very feeble expectations. So if they are not met, we may face a serious movement in the opposite direction. Lots of players staked more…

EUR got close to 1.31

By GG Analyst in Reviews 0 Comment

EUR/USD

This week the EU is planning to discuss a new stage of sanctions against Russia regarding help the latter delivers to the Ukrainian separatists. Their success has been producing a negative effect on the situation in the markets lately and, as a result,  has put pressure on the single currency. Another round of sanctions will hamper the economic potential of Europe even more. EURUSD has reached 1.3112 this morning in view of the growing geopolitical risks. Also, the euro is affected by hints of Mario Draghi, made a week ago in Jackson Hole. After his speech now the markets expect further more…