The cable is pushed down below 1.7

By GG Analyst in Reviews 0 Comment

EUR/USD

Yesterday’s EU PMIs stirred pleasant surprise in the markets. Almost all preliminary indexes ( for Germany, France, the eurozone) proved to be in the green area, surpassing all the expectations and preceding values. The Composite PMI for the eurozone in general grew to 54, which is beyond the expected and previous 52.8. These data put considerable influence on the course of trading and changed attitude to the single currency. The pair managed to recover from the unreasonable selling before the beginning of active trading in Europe. Then bears pushed EURUSD down to 1.3437. On the tide of positive EU statistics the more…

USD bulls in search for stops

By GG Analyst in Reviews 0 Comment

EUR/USD

The single currency is helplessly crawling along the bottom of this week’s range. Yet it is remarkable that the attempts to send the pair down don’t stir due interest among buyers. This morning, for example, for no particular reason and even before the release of PMI stats EURUSD was pushed down to 1.3437, that is 20 pips below the daily open. Supposing that technically the pair will target at the support level near the preceding local low, we can expect a reversal only near 1.3290. It means that bears have a figure and a half in store. However, we can hardly more…

EUR is down against USD and GBP

By GG Analyst in Reviews 0 Comment

EUR/USD

Yesterday bears intensified their pressure on EURUSD, pushing the pair down to the lowest levels since last November. Now trading is held close to 1.3460. Bulls simply didn’t have enough strength to buy out EURUSD at 1.3520, so the strong selling impulse sent the pair down and now the latter doesn’t hurry to rise from there. Softness of the ECB’s monetary policy (the recent rate cuts and preparations for TLTRO) combined with the cyclic slowdown of the economy after quite a decent growth in the first quarter don’t make the single currency the best candidate to grow. Besides, yesterday the USA more…

USD’s futile attempt to trigger stops

By GG Analyst in Reviews 0 Comment

EUR/USD

The story with the Malay plane combined with closeness of the local lows in EURUSD provoked emergency liquidation of long positions. The pair was picked up below 1.35, but before that it managed to gather stops after reaching 1.3490. Bears were very close to the annual lows, set in early February (1.3476), but failed to cross them. Anyway, the week was closed above 1.35 and this morning the single currency was still being purchased.  Now the pair is trading at 1.3540, having come off the dangerous lows, which are able to provoke further decline. There is no important news scheduled for more…

Bulls leave no hope

By GG Analyst in Reviews 0 Comment

EUR/USD

The US dollar retained the positions gained on Thursday, remaining at 1.36 against the euro. In the meantime, commentators are considering the issues of the Portuguese Bank as a small hitch, which shouldn’t be exaggerated. They’d better regard it as a canary in the coal mine. Anyway, in general investors are positively disposed now, which is mainly a result of the strong US employment statistics. These data (employment growth by 288K in June and returning of the weekly unemployment claims close to 300K) increase chances of inflation acceleration in the coming months. Yet, the participation rate is rather low and in more…