The bears take profits before a new attack

By GG Analyst in Reviews 0 Comment

EUR/USD

The traders are taking profits on the euro’s decline. It is clearly seen in EURUSD and EURJPY. And these are the main pairs in which the flight from the weak euro into “liquidity” was especially strong. Yesterday they were jerking up after the fruitless attempt to break through the local lows. That was exactly profit-taking, not an attempt to reverse since there was no good news from Europe. Quite the contrary, the German ZEW came out much worse than expected. The economic sentiment indicator dropped down to -15.7, thus bringing the modest growth of October to naught and the current situation more…

There’s one problem – politicians

By GG Analyst in Reviews 0 Comment

EUR/USD

Greece hasn’t received any money. Of course, yesterday’s meeting of the EU finance ministers didn’t solve all the problems with a wave of a magic wand. And no one had really expected that, so the market reaction was rather reserved. The single currency hit new lows this morning. At night the pair sank down to 1.2675. Looking from a broader perspective, we see that EURUSD is moving along the lower bound of the downward channel. It’s noteworthy that the  bounces  here are getting weaker and shorter. This sale is very likely to get stronger, as we risk stumbling over the wave more…

The wrong time, the wrong way

By GG Analyst in Reviews 0 Comment

EUR/USD

In the second half of the last week the markets suffered a serious correction. Forex first stood aside, but on Friday also joined the general trend. The single currency dropped below 1.27 against the dollar at the end of the week, thus hitting a nine-week low. Then, at the beginning of September, the pair passed this level without a stop. Some believe that this time the pair’s return will be equally swift. Some consolidation is possible at 1.26. The 200-day MA, which had served as a strong support in September and October, broke under the pressure of the bears. Partly it more…

Stats are getting better, but the markets are still on the defensive

By GG Analyst in Reviews 0 Comment

EUR/USD

The US markets kept falling yesterday, but it already didn’t mean much for the euro. Going down to 1.2715, EURUSD hit its 2-month low. However, by the end of the day the pair had stabilized around 1.2745 and at the beginning of active trading in Asia jumped up to 1.2780. Now it keeps trading here (above Thursday’s highs). The eventfulness of the day (numerous statistics and the decisions of two CBs) didn’t develop into any high volatility in the markets. Draghi’s comments were moderately optimistic. He noted that the outflow of capitals from the suffering countries’ banks changed into the inflow more…

Politics and currency speculations

By GG Analyst in Reviews 0 Comment

EUR/USD

It was all so encouraging on Wednesday… The euro-traders repulsed the bears’ attack, got down to active buying of EURUSD at 1.2945 and in a couple of hours brought the pair to 1.30. It is of interest that by opening of trades in the USA the euro had been carefully “put” back at the starting point of the mini-rally. Thus, the 1.3020 mark proved to be a strong resistance. Formally the bulls took cover under two favourable reports on spending in Germany and France. But if we take a closer look at the reports, they are not that favourable. The German more…