It’s all USD’s fault

By GG Analyst in Reviews 0 Comment

EUR/USD

The pair got support on the strong stats from Europe and relatively poor data from the USA. Yesterday’s PMI helped the single currency get off the lower bound of the range, forming since the beginning of the week. The index pointed out strengthening of business activity in the eurozone. And what’s important not only in Germany, but also in other countries. But afterwards dollar bears fastened on the continuing claims index, which has been on the rise for the last three weeks. Except for one week in July, distorted by the holidays, the last time unemployment claims exceeded 3.06 million was more…

EUR and GBP are going against USD

By GG Analyst in Reviews 0 Comment

EUR/USD

Taking into consideration the fluctuations of the recent months , this week’s movements look as fluctuations near the uptrend support. Breaking through this line (supposedly 1.3510 by the end of the week) will allow speaking about a serious bullish sentiment in regard to the dollar. Now bulls prefer attacking on the flanks, putting pressure on the currencies of the export-oriented economies like Australia, Canada, Russia. But, in our opinion, it is a temporary situation and soon the EU currencies will come under a stronger pressure. To be more exact, the dollar will commence growing. The risks concerning the euro lie with more…

Forex still can’t venture to attack important levels

By GG Analyst in Reviews 0 Comment

EUR/USD

Yesterday’s hopes for a quick attack of dollar bulls failed. Though we were right in our forecasts regarding ZEW, the single currency didn’t manage to break through 1.3500 and during the Asian session today the pair grew to 1.3580, thus exceeding the daily high of Tuesday. As you remember, yesterday we supposed that Germany’s business sentiment would weaken, against the general expectations of growth. The actual data showed decline from 62 to 61.7 instead of growth to 64.0. Strictly speaking, the figures are not bad, at least they are not too poor so that the euro ram 1.3500. So, this event more…

Expecting RBNZ tightening and BOJ stimulus

By GG Analyst in Reviews 0 Comment

EUR/USD

Yesterday we spoke about growing signs of a reversal in the pair. Though it was a quiet day yesterday and the single currency even went off the local lows, we are now only firmer in our belief. Yesterday’s move from 1.3506 up to 1.3560 was nothing more than a correction after the impressive decline on Friday. Since neither Friday nor yesterday brought any important news, which would have accounted for the movement of the euro/dollar, the latter should be treated from the technical point of view. The drop by more than a figure, which was then followed by a proper pullback more…

EUR: about to reverse

By GG Analyst in Reviews 0 Comment

EUR/USD

Probably, it is too early to speak about this, but it seems that the euro/dollar has just reversed. In October and December the single currency unsuccessfully tried to break through 1.38 against the dollar. And if there were some grounds for the former, the latter rise took place amid low volumes in the thin holiday market. The main target of such an ascent is to wash out shorts, which usually precedes a real reversal. It’s a kind of the bulls’ last attack or chasing for stops. Since the beginning of the year the stress has been laid on the rational strategy more…