Friday profit taking?

By GG Analyst in Reviews 0 Comment

EUR/USD

The trends of yesterday’s sluggish session were quite similar to those seen a day before: gradual depreciation of the dollar.  This is quite likely to develop into a new trend. The reversal ran like this: the slight gradual improvement last week with purchases on the intraday dips spilt over in triggering of stop-orders at the beginning of this week, which is confirmed by long candlesticks on short-term time frames (especially in the 15min-candles). The euro purchases despite the news made it quite clear that the bulls’ intentions were serious. On Wednesday the pair was falling from the daily open of 1.2815 more…

Reality Bites

By GG Analyst in Reviews 0 Comment

EUR/USD

Encountering resistance from the IMF, the European ministers of finance haven’t come to terms on the Greek debt issue. The EU and IMF have absolutely different views on the future of Greece. The Fund considers that with the current state of affairs the country won’t be able to observe the terms of the agreement (reduction of the debt to 160% of GDP). And in this case the IMF will be unable to issue another bailout tranche to the country. We, just like most market players, expected that the creditors would finally manage to come to an agreement. This didn’t happen. Now more…

Rating agencies back in the game

By GG Analyst in Reviews 0 Comment

EUR/USD

The market optimism was growing all through the day yesterday, which is clearly seen in several asset classes. For instance, EURUSD grew above 1.28 during the US session, though had started the day below 1.2750. That optimism was caused by the increased hope for the successful competition of the fiscal cliff talks, which in its turn arose on Obama’s confidence about coming to terms with the republicans. The market reacted as if the politicians had never thrown about such assertions, which further proved to be just empty words. Later the market ardour was cooled a bit by the news that Moody’s more…

An opportunity to buy?

By GG Analyst in Reviews 0 Comment

EUR/USD

Now the situation in the markets looks more reassuring than at the end of the previous week. There is a growing feeling that the drop by over 5% since the day of Obama’s reelection was a too pessimistic reaction of the market players to the possible fiscal cliff. Sure, the issue is serious and risks are real (we do remember that last-moment deal in the style of the best American action films in August 2011). However, at the current levels the stocks look rather attractive for buying. The investor interest is growing with the approach of Thanksgiving Day, when the markets more…

False optimism

By GG Analyst in Reviews 0 Comment

EUR/USD

Yesterday the market didn’t hurry to stop a retracement. The single currency continued its upward trend against the dollar and hit a new local high at 1.28. Then, just like a day before, the pair moved off the maximums and took up a defensive position. Today we see systematic purchases in the pair, very cautious at the moment. But it can be just the beginning. We still believe that the euro’s attempts to recover this week resulted from the technical short-squeeze and retracement after the large-scale selling since the second half of October. Our opinion is confirmed by the fact that more…