Forex is getting quiet after strong fluctuations

By GG Analyst in Reviews 0 Comment

EUR/USD

Quite naturally the single currency was suffering losses in the second half of the previous week. It was a result of the Fed’s decision to cut the monthly purchases by $10bln to 75bln. Eventually, EURUSD fell from 1.3810 to 1.3620. It seems that at that level players were purchasing the single currency within the bounds of a short-term profit taking. The previous week was the last full week of the year. This week the market liquidity will be limited before the holidays and right after them in the expectation of New Year’s Day. The end of the last week, when the more…

The strong payrolls didn’t help USD grow against EUR

By GG Analyst in Reviews 0 Comment

EUR/USD

And again the euro is growing despite the news. The preceding eventful week ended with the US employment stats. The November report met the market’s high expectations and even surpassed them somewhere, but failed to produce any continuous effect on the euro, which eventually grew against USD. Now the euro/dollar is above 1.3700, which is the highest level since the end of October and within the reach of a long-term resistance (1.3750). This resistance is rather conventional, so we can hardly expect a burst of activity, should it be broken. The previous highs (1.3785, 1.3815, 1.3830) are of more importance now. more…

It’ll be hard for payrolls to strengthen USD

By GG Analyst in Reviews 0 Comment

EUR/USD

The ECB with Draghi at the head didn’t suggest any new incentives or ways to stimulate money supply in the eurozone yesterday, moreover they made it clear that the issue didn’t have any discernible outline even in the discussions. In this connection purchasing of the single currency was an understandable and justified reaction of the market. As a result, since the beginning of the press-conference the euro/dollar has grown by about a percent and is trading at the five-week high of 1.3670. But for the strong US statistics, it could be much higher. Yesterday’s statistics proved to be much better than more…

Ambivalent Forex

By GG Analyst in Reviews 0 Comment

EUR/USD

The markets are still moving in different directions. The single currency is strong enough to recover, while the stock markets are in the red zone. Yesterday the euro dropped to 1.3530 for a while, but now it is again attacking 1.3600. The currency’s fall was spurred by the ADP’s favourable employment statistics. In November the non-farm employment grew to 215K (against the expected 172). Besides, the rates of October and September were revised up, together making by 94K more than estimated before. This revision has brought ADP’s data closer to the official statistics, which have been showing higher rates recently. This more…

All attention to the stats

By GG Analyst in Reviews 0 Comment

EUR/USD

Monday’s selling interest was not spurred yesterday. The market is back at the week’s opening level. However, all the attempts to consolidate above 1.3600 proved to be futile. The pair rose as high as 1.3613 and rolled down below 1.36 while the Asian stock markets were going through a correction. The stock exchanges went into profit-taking after reaching the six-year high in Nikkei and the US stocks continued to decrease as expectations in regard to QE had been revised. This is what we have been preparing you for so long. The US central bank, in theory, can cut the volume of more…