They sold Euro before Draghi’s speech

By GG Analyst in Reviews 0 Comment

Mario Draghi

EURUSD

Traders could not resist the tension. After quite stable growth inside a tight channel the pair broke its support at 1.1350 and went down for more than a half figure. Today traders have enough time before the coming Draghi’s speech, therefore they are not in hurry to buy cheaper euro but instead boosting selling. Except risks of monetary policy, pressure to common currency caused either by higher demand for risky assets that makes the protective function of the common currency less attractive. Moreover, we should notice good indicator of home sales. Existing Home Sales in March added 5.1% that was higher more…

Birth of oil trend changing

By GG Analyst in Reviews 0 Comment

Oil

EURUSD

The pair is showing that short-term bottom was formed in the end of last week. At the moment it reaches 1.13 without any significant news and comments. More confidently we can comment the short-term turn after hitting resistance level at 1.1320 (38.2% rebound from April peaks), then the nearest target may become 1.1350 level, and later on – 1.14 and 1.1450. In the news today we are waiting for release of Housing market index from NAHB, though we are not expecting it can move market seriously. Tomorrow’s Germany and Eurozone ZEW Economic sentiment have much more chances to move the market. more…

Market is making a pause before G20 and OPEC – non-OPEC

By Admin in Reviews 0 Comment

G20

EURUSD

The pair, probably, laid to the floor. Yesterday EURUSD stabilized around 1.1260 level, and it continues to trade there today. Hesitations of market participants can be explained: they do not have ideas for the further trend development or drastic break of growth to the decline side. Meanwhile, nobody wants to run into the future since the weekend will bring too many official multinational meetings. IMF will report in Washington its vision of world economy (Analytical chapters of the report were published a week ago). As well we can wait for the cooperative announcements from G20 that will meet during Summit. Moreover, more…

The main issue of the Pound

By GG Analyst in Reviews 0 Comment

GBP Brexit

EURUSD

Last 24 hours Euro is moving rather nervously. Yesterday, slipping back to 1.1320, the pair unexpectedly rallied up and managed to reach 1.1430 in the middle of the American session. By the end of the day Euro remained below 1.14 level, though today bulls made one more attempt to attack the price and the pair for some time has jumped up to 1.1450 – the highest level since October,15. But in a couple of hours again it was at 1.1350 level. If we look above those wild bounces we can easily notice that as a whole trading of EURUSD is going more…

Easy come, easy go

By GG Analyst in Reviews 0 Comment

EUR/USD

EURUSD suffered the biggest intraday drop since June 2010 – by about 1.5%. The pair fell from 1.32 down to 1.30, thus ruining all hopes for growth and getting back to the model of consecutive descending highs and lows, which set in at the end of the previous week. This massed selling was due to a combination of two factors at once. First, the markets felt pressure because of the rather poor corporate reports and concerns over the global economic growth. The latter arose due to the pessimistic outlook of the IMF. Then, the head of Bundesbank  and apparently one of more…