Bulls’ feast

By GG Analyst in Reviews 0 Comment

EUR/USD

Yesterday the dollar hit fresh multiyear lows in Forex, depreciating against the majority of its rivals. It is remarkable that it was boosted not only by the news on the dollar, but also by the relatively favourable statistics from other countries. The contrast between the USA and other countries is no longer that sharp. But, let’s start from the beginning. The EU PMIs generally proved to be better than expected, which contributed to growth of the single currency against USD. In addition, Portugal officially has exited the bailout two weeks ahead of time. Ireland exited it already in December, Spain did more…

USD holds the line pretty well, for now

By GG Analyst in Reviews 0 Comment

EUR/USD

The US dollar managed to preserve its positions on Monday. For EURUSD absence of motion can signal that bulls are moving up fresh reserves. The pair needs a break as technically it now looks overbought or quite so, depending on the technical indicator considered. In the meantime, the American currency, taking advantage of the opportunity, has been gathering momentum at other ‘fronts’. Stock traders decided to take their profits. The optimism, aroused by the employment statistics, didn’t last for long. To stir some considerable selling in the euro and stock exchanges we need a serious reason, but as we go forward more…

Attack of USD

By GG Analyst in Reviews 0 Comment

EUR/USD

The single currency depreciated against the dollar yesterday. Having started Thursday at 1.3660, EURUSD finished it at 1.3550. It fell right to the area, where it had begun its upsurge a week before on the release of strong PMI stats. In our opinion, that movement was nothing more than washing out of short positions. Too many spoke about strength of the dollar on the threshold of the Fed’s meeting. In such cases big players often announce hunting for stops and kick a part of small investors off the market. It gives an opportunity to sell expensive or buy cheap, depending on more…

Central and tail-risk scenarios for payrolls

By GG Analyst in Reviews 0 Comment

EUR/USD

The single currency shot up yesterday, hitting the level of 1.30 already before the payrolls. Having taken the grip of such an important psychological level before this serious news, the bulls rejoice in their success.  Yet, it’s remarkable that Draghi hasn’t given any new information to the markets. Investors and traders didn’t hope for that and to make out the further cause of actions tried to be attentive to the nuances. The markets arrived at the conclusion that Draghi would prefer to get a bailout request from Spain and probably from Italy as soon as possible to bring all guns into more…

Markets get ready for a spurt

By GG Analyst in Reviews 0 Comment

EUR/USD

Last Friday and this Monday the range of the EUR/USD fluctuations exceeded 125 pips. On Tuesday the distance between the intraday high and low made 90pips, and yesterday’s fluctuations fitted into 60 pips. It will hardly be quiet today. This afternoon the ECB holds its regular meeting. This time no one expects any actions from Draghi. Just words. This Italian proved himself to be an eloquent orator, who can make decisive statements and stick to his guns despite resistance of other countries, even of Germany. Earlier Trichet didn’t show such firmness. This time we shouldn’t expect any new statements from Draghi, more…