EUR is moving up regardless of economic slowdown

By GG Analyst in Reviews 0 Comment

EUR/USD

The single currency hit fresh two-year highs against the dollar. Yesterday’s high made 1.3824. It is remarkable that the market should be so persistent, purchasing the euro. The thing is that Flash PMIs for France, Germany and the whole eurozone proved to be much worse than expected. Instead of increasing the French manufacturing activity shrank even more, which is reflected in the drop of the index from 49.8 to 49.4 against the expected 50.3. In Germany the situation is a bit better, but the index still failed to meet the expectations. The Manufacturing PMI rose to 51.5 against the forecasted 51.6. 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…

Bears and bulls are playing EURUSD

By GG Analyst in Reviews 0 Comment

EUR/USD

The euro is trying to catch up with the growth of other currencies against the dollar, but all this looks funny or even dangerous for those who stake on growth of the single currency. Yesterday EURUSD managed to rise from the daily low of 1.3150 and hit the high at 1.3217. As a result, the movement made less than 70pips and by now half of this growth has already been recouped as trading is again below 1.3200. Actually, there wasn’t any particular reason for growth and the market players mainly ignored the news as the published stats represented a clear signal more…

EUR: sucked down in the bog

By GG Analyst in Reviews 0 Comment

EUR/USD

The single currency is sinking deeper and deeper in the bog. It is remarkable how systematically and gradually the pair is being pushed down. Apparently, capital movement is going on at the level of structural changes in the plans of investors. It means that inside the market behind such little movement of rates stands really big money. And this money wants to sell the euro rather than affect the currency rate. The single currency still has to deal with one important level, that is 200-day MA, which is now at 1.3140. The market touched this level, but quickly bounced off it. more…

Carney shook up the pound

By GG Analyst in Reviews 0 Comment

EUR/USD

As we  warned about at the beginning of the week, the dollar has commenced retreating. Lockhart’s and Evans’s claims provided only temporary support to the dollar. Further, other factors like improvement in Europe have come into the play. Technically, the dollar is affected by the fact that many currencies of the developing countries have become overbought over the preceding months. In such circumstances the US currency will find it hard to grow. The dollar is more willingly purchased in the times of uncertainty. And now we find more and more signs of faster growth of the developed economies. At least now more…