Mounting pressure of dollar-bulls

By GG Analyst in Reviews 0 Comment

EUR/USD

The pressure of USD is getting harder to resist, but the euro seems to cope well with it. Profit-taking in stock exchanges and easing of the situation with the overbought market contributed to decline of US indices , but at the same time aroused demand for dollars. The US currency grew against most of its counterparts yesterday. EURUSD lost about 20 pips, closing the day at 1.3857, while during the day it went as low as 1.3830. Albeit small, this pullback can lay the basis for further growth, as buyers of the single currency and stocks can again appear in the more…

The ECB and Fed are getting farther from each other

By GG Analyst in Reviews 0 Comment

EUR/USD

The CBs of the world’s biggest economies keep moving in the opposite directions. The main currency pair received a double blow yesterday. It was somewhat unexpected as occurred neither on the publication of the Fed’s meeting minutes nor the release of statistics. Advocates of the technical analysis could triumph yesterday. For 10 trading sessions the single currency had been moving inside the narrow ascending channel and, as a result, had driven the pair in the overbuy zone, so when a correction broke the support of the uptrend (1.3510), it intensified the decline. Eventually, the movement carried the pair away to 1.3413 more…