The flat end of the week

By GG Analyst in Reviews 0 Comment

EUR/USD

Yesterday the single currency would have had a hard time, if the German PMI hadn’t come to the rescue. The preliminary French PMI, published half an hour before, intensified pressure on the euro due to the decrease in the Manufacturing and Services PMIs. The former fell from 48.8 right down to 47.3 against the expected 48.6 and the latter – from 48.4 to 48.1 against the expected 48.2. The French economy keeps slowing down. The Composite PMI in the meantime dipped down to 48.0, which hasn’t been seen since last February. The pair managed to stay above 1.26 (the low was more…

1.2600 as a crucial correction level

By GG Analyst in Reviews 0 Comment

EUR/USD

The single currency is still being attacked by bears. These traders have decided to take advantage of the moment and sell the euro at a higher price due to the previous correction. Besides, as has already been mentioned, in the periods of such surface lull, trading volumes are quite handsome, which enables players to store liquidity for a serious attack. Unfortunately, it is hard to understand which stance big players will take. Now it seems that the euro’s correction is coming to its end and the pair will soon reach fresh highs since the beginning of October (below 1.2500). Now trading more…

Pernicious for USD, favourable for EUR

By GG Analyst in Reviews 0 Comment

EUR/USD

The US market was trying to form a rebound off the weekly open almost all through the day yesterday, but these attempts were ruined by the bears’ finale. As a result, the stock exchanges again fell sharply, developing last week’s decline. This behaviour of the stock market has a beneficial impact on EURUSD. During bears’ attacks the euro is growing against the dollar. Yesterday afternoon the pair went as high as 1.2757, thus growing by a figure and a half over the day. The fluctuations of the recent week vividly show how much the market volatility has increased. Traders are trying more…

The bearish market for Oil

By GG Analyst in Reviews 0 Comment

EUR/USD

The pressure on the dollar failed to last for all day long yesterday. EURUSD was reversed near 1.2800 and pushed off to 1.2665 during the New-York session. This decline made up for almost all losses suffered on the release of FOMC’s minutes. Now the pair is close to the support level of the short-term trend. If in the coming hours bears become more active and manage to push the pair below yesterday’s lows, the dollar will be strong enough to resume its rally and continue growing in accordance with the fundamental indicators. However, should the upward movement continue, we will probably more…

AUD and JPY are temporarily stronger than USD

By GG Analyst in Reviews 0 Comment

EUR/USD

Neither bulls nor bears managed to push the market out of the existing trading range. The slowdown of growth and further short-term weakness of the single currency dropped the pair only to 1.2584. And though hardly anyone doubts the dollar’s ability to continue growth, traders are simply too weak for such a step. For the next attack they need to store more liquidity. And this happens when the rate floats or consolidates. The example of this can be the period from the beginning of August till its middle. At that time after the consolidation within 1.3350-1.3400 the pair tumbled down below more…