Politicians won’t come to an agreement soon, employment is in the limelight

By GG Analyst in Reviews 0 Comment

EUR/USD

And though closing of several ministries in the USA didn’t provoke any sharp movement, it still put some psychological impact on the dollar. It had sagged by the beginning of the EU session yesterday, which for a while brought EURUSD closer to 1.3600. It is amazing that for all that stock markets should feel quite good. For the most part of the day they were in the uptrend. As a result, S&P 500 closed the gap, with which it had started the week, and for a while even returned to the levels of the second half of the previous week. It 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…

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…

Get ready to troubles in the eurozone

By GG Analyst in Reviews 0 Comment

EUR/USD

A day after the Fed had announced about its idleness the markets corrected just a little bit. For example, EURUSD didn’t even go below 1.35. Taking into account that a week ago it was below 1.33 and two weeks ago – around 1.31, it is quite a considerable progress. From the viewpoint of technical analysis, purchases became more intense after the pair had managed to consolidate above the 200-day MA on one of trading days of September. It means that coming back from the summer holidays “big money” saw a bullish picture in the pair. On the fundamental side the reason more…