USD is up against the developing currencies and Aussie

By GG Analyst in Reviews 0 Comment

EUR/USD

As could be expected, trading crossed the bounds of the narrow range, thus arousing strong volatility in the currency market without any particular reason. The euro purchases had led the pair from 1.3320 to 1.3450 by the beginning of the active US session.  Thus, the pair entered the area of half-year highs, going beyond the peak of June 19, which made 1.3420. It is also remarkable that this movement was not immediately followed by a retracement. Up to now trading is held above 1.34, which speaks about strength of the bulls and inspires hope for further growth. Anyway, the picture may more…

JPY and CHF are fading against demand for risk

By GG Analyst in Reviews 0 Comment

EUR/USD

Tuesday was an eloquent reminder of the fight, that is now going on between the dollar-bears and bulls. Yesterday the victory was gained by the former. At the end of the day EURUSD was trading around 1.3260, that is 40 pips below the daily open, and a few hours before that, at the beginning of trading in New York, the pair had managed to go as low as 1.3230. Looking back at the Asian and European sessions, we see that already then the pair couldn’t get a grip on the levels above 1.3310. A few attacks were repulsed, so even the more…

USD stopped falling for a while

By GG Analyst in Reviews 0 Comment

EUR/USD

As had been supposed, there was no important news on Friday, so the market was in the profit-squeeze mode after quite a good rally earlier in the week. During the correction EURUSD fell from the area around 1.34 (Thursday’s high) down to the levels below 1.3320 (on the opening of this week’s trading and now). To some extent the modest performance of the single currency can be explained by weakness of the Asian exchanges, which have dropped down to the six-week lows.  Actually, there’s nothing left for EUR to do but react to the information coming from the outside, as there more…

EUR and GBP to test important resistances

By GG Analyst in Reviews 0 Comment

EUR/USD

The euro/dollar remains in the uptrend. Last week the level of resistance moved from 1.3000 to 1.3050. And the resistance of bears is only at 1.3170 now. Technically,  a “flag” is forming. And usually it spills over into continuation of a trend. In our case, should 1.3170 be broken through with confidence, traders will get a buy signal with the approximate target at 1.3570, which is our long-term target. Talks about further growth will be sensible only after these levels are reached. Yet the ability of the single currency to stand firm above 1,36 seems to be more and more doubtful more…

USD corrects to the downside

By GG Analyst in Reviews 0 Comment

EUR/USD

The single currency came under pressure yesterday evening on the words of  Jörg Asmussen that the ECB’s intention to “keep the rates at or below the current levels for an extended period of time”  goes beyond  a 12-month horizon. Officially the CB has announced that these words shouldn’t be treated as precise directions. However, we, like the majority of market players, have become firm in our suppositions. For example, when the Fed started to use the same phrase, the period of time to keep the rates low went beyond a 12-month limit (actually, by now it’s been already more than two more…