The sunset of the Land of the Rising Sun

By GG Analyst in Reviews 0 Comment

EUR/USD

Yesterday the single currency tried to demonstrate timid attempts to grow, but already this morning the pair quickly returned to the local lows. Behind yesterday’s purchases there was scarcely anything more than cautious desire to lock in profits after the preceding decline of the euro. For this reason EURUSD managed to reach only 1.3440, besides the daily low was just 15 pips below it. Now trading is held close to 1.3430 and promises to be as sluggish as yesterday due to absence of macroeconomic statistics. The opposite can be expected, perhaps, only if the US Consumer Confidence will be much different more…

USD has been bought beforehand

By GG Analyst in Reviews 0 Comment

EUR/USD

This week we expect a whole series of important macroeconomic news from the USA. It will all start with the release of the GDP data for the second quarter on Wednesday. Further the baton will be picked up by the FOMC’s decision on QE and interest rates and by employment stats on Friday. The GDP is expected to show impressive growth against the recovery after the disastrous first quarter in the background. The Fed will hardly suggest anything new except for the 10-billion tapering of the asset purchasing programme, but traders and investors will still look for hints at the earlier more…

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…