Outlook for 2014: Part Two

By GG Analyst in Reviews 0 Comment

EUR/USD

The Asian stock markets showed some growth after the holidays, taking their lead from the US pre-Christmas positive mood. Yet, the yen is still under pressure. It hit a fresh five-year high against the dollar – at 104.82. AUDUSD also opened with a gap down. Probably, it is somehow interconnected as AUDJPY hasn’t demonstrated any changes – the cross opened at 93.06, where it had been before closing. So, no significant shifts. And it is quite reasonable as during the holiday time there wasn’t any important events. During the pre-Christmas trading session the dollar was in demand most of the time, more…

The unstoppable pound

By GG Analyst in Reviews 0 Comment

EUR/USD

On Friday trading was mainly held within a very narrow range. The only exception was when EURUSD tumbled down by 20pips in the first hours of the US session. This movement was false as it occurred only because most traders hadn’t entered the market, taking another day off after Thanksgiving. The pair returned to Friday’s levels, that is 1.3600, just over a couple of hours after the Asian session had begun. This week promises to be very eventful. Both the ECB’s meeting and the US employment statistics are scheduled for it. These two events have been provoking the strongest volatility recently. more…

Toward the mountaintop, inch by inch

By GG Analyst in Reviews 0 Comment

EUR/USD

The euro keeps recouping its losses and has already recovered to the levels seen before the ECB’s rate decision. 1.3500 had been broken by the beginning of the EU session, after which bulls wanted to take the pair higher, but were stopped at 1.3540. The bears are retreating, albeit gradually. To surrender there should be more solid reasons and there hardly was any yesterday. In the meantime, stock markets were making their way up for the most part of the day. At the beginning of trade S&P 500 hit 1800 and Dow broke above 16000, but then players decided to start more…

Forex disregards Yellen’s softness

By GG Analyst in Reviews 0 Comment

EUR/USD

EURUSD remains in the uptrend. But yesterday it seemed that we turned on a serious resistance at 1.35. Thus, on the one hand, we’ve got a series of ascending intraday lows, but on the other hand bears are putting up strong resistance at 1.35.  By the end of the week the market has stuck somewhere in between 1.3418 and 1.3490, which were hit during the European and US sessions (now it is 1.3450). It’s remarkable that for all that stock exchanges don’t feel any confusion. For them the situation is pretty clear. The next chairman of the Fed, Janet Yellen, is more…

EUR bears should be more eager

By GG Analyst in Reviews 0 Comment

EUR/USD

Despite the blow Draghi delivered to the single currency last week  and also the pressure put by the employment statistics, the single currency is still strong enough to make its way up. The charts show a series of ascending intraday lows: 1.3293, 1.3317, 1.3358. In the short term these data can be enough to be bullish, but regarding a longer term it is quite dangerous to purchase the single currency at the current levels. Trading is now held at 1.3430 and it is the highest rate which EURUSD corrected to after the rate cut announcement. It is quite likely that the more…