Attempts to put pressure on USD

By GG Analyst in Reviews 0 Comment

EUR/USD

The euro had managed to recover by the end of the day and close Monday positive. During the day EURUSD went as high as 1.2714, but closer to its end the pair was pushed below 1.2700. The data on the US consumer spending surpassed expectations, showing that personal spending grew by 0.5% after going down by 0.1% a month before. The data went beyond expectations and indicated revival of demand, which can urge the Fed to initiate tightening, or in other words normalization of the monetary policy. Besides, the consumer and business confidence of the eurozone keep sliding down. Against such more…

EURUSD is at its 14-month lows

By GG Analyst in Reviews 0 Comment

EUR/USD

Having broken through 1.2840, EURUSD quickly fell down to 1.2770. The main reason for this movement is triggering of limit orders on reaching new local lows. As a result, the pair is now trading very closely to the lows of the previous year (1.2744). The next accumulation of stops can be near 1.2650. The further target of decline may be set at 1.20, which had been hit in 2012 in the heat of the EU sovereign debt crisis before Draghi made his famous ‘whatever it takes’ speech. Then the low rate was explained by the fears of the EU disintegration with more…

USD doesn’t hurry to give in

By GG Analyst in Reviews 0 Comment

EUR/USD

The euro tried, but failed to attack the dollar yesterday. The relatively good PMI stats for Germany and France didn’t help the eurozone to surpass expectations in all indicators. Now the market has a great set of facts and statistics on big countries at its disposal, though special attention should be paid to small ones. Now Germany is the one to carry the overall performance of the eurozone.  The Services PMI has grown to 55.4 in September instead of the expected slowdown from 54.9 to 54.6. In its turn it helped the Composite PMI grow against the rate of the previous more…

Technical analysis highlights a possibility of short-term correction

By GG Analyst in Reviews 0 Comment

EUR/USD

The single currency is no longer as sensitive to Draghi’s comments as before. Yesterday he expressed readiness to expand incentives, including non-traditional measures. However, the markets don’t take these words as a threat now as Draghi’s under increasing pressure of Bundesbank and the central banks of other core countries. Thus, the reaction to Draghi’s rhetoric was quickly exhausted. The pair dropped down to 1.2816 (a new high for more than a year). The pair remains oversold. But meanwhile its current position is explained by fundamental factors. So short-term traders can only rely on a quick pullback within the range of the more…

AUD is crushed by slowdown in China

By GG Analyst in Reviews 0 Comment

EUR/USD

The euro-bulls still hope to offset at least a part of the dollar’s appreciation. On Friday they managed to take the pair up to 1.2980. But at these levels the pair found enough buyers, which threw it off closer to the middle of the traded range. The short-term support, which appeared last week, still works, showing signs of a feeble uptrend. Probably, it will become stronger if the EU statistics are favourable and the US ones are poor. The EU trade balance can be one of such news. It has been steadily high in the recent months due to the economic more…