Tiresome flat trading

By GG Analyst in Reviews 0 Comment

EUR/USD

The single currency finds it difficult to hold above 1.35. Wednesday’s attempts to get back above this level turned into strengthening of pressure on the pair on Thursday. Yet, there wasn’t any utterly disappointing news about the eurozone. The market participants should generally feel the difference between the US and EU statistics. If with the former we are trying to assess how strong the growth is, with the latter we just feel the pulse: if the patient is alive or not. It is also important to feel this difference in the commentaries of officials. Thus, ECB’s Coeure reminded yesterday that the more…

A sudden return of EUR

By GG Analyst in Reviews 0 Comment

EUR/USD

Quite unexpectedly for us the currency market turned in the direction of the dollar’s decline. It occurred even before the beginning of the EU session, that is without any reason in the news background. As a result, from the daily low, which we described in our yesterday’s review (1.3461), the pair grew to 1.3536 in the midst of  trading in the USA. The movement to that area marked a return to the zone of highs after the Fed’s decision not to change the policy. If so, it means that the market has decided to get even higher, collecting stops above the more…

A modest downtrend

By GG Analyst in Reviews 0 Comment

Yesterday the market kept pushing the single currency down. It is remarkable that this process is going on gradually, without jerks. Already for five trading sessions in a row EURUSD has been showing a series of descending highs and lows. Yet, if at the initial stages the market was moving against the news, now the process is in tune with the released statistics. Yesterday’s data on German activity by Ifo proved to be worse than expected. Instead of the supposed growth to 108.4 the index reached only 107.7. It is not bad, taking into account that it is the highest level more…

Bears will try to break below 1.35

By GG Analyst in Reviews 0 Comment

EUR/USD

Players are gradually taking their profits after selling of USD. As we know, the market can go against fundamental factors for a while if technical analysis presupposes such a movement. Something like that was observed yesterday in the euro/dollar. The Prelim PMI for the eurozone was not bad. Despite the disappointment with slower growth of Germany’s manufacture, where the index has fallen from 51.8 down to 51.3, the services sector has surged, demonstrating the highest activity since last February. And it’s been only the third month for the last 2 years, when Germany’s services sector improved so much. So, the news more…

Merkel has won, stern workaday life begins

By GG Analyst in Reviews 0 Comment

EUR/USD

Merkel’s party has won the highest number of votes since the day of Germany’s reunification, but it doesn’t really mean that the Christian Democrats won’t have to form a coalition. 42% of the votes secure 296 out of 598 seats at Bundestag. It implies that Germans generally like austerity and the prosperity that the country, which went out of recession long ago, has reached. The hopes that the tough austerity stance would be shaken by the social-democratic party with its left-wing views, haven’t been realized. Now Greece, Portugal and Ireland may start fearing that such support of Merkel will entail requirement more…