Within the channel till fresh news releases

By GG Analyst in Reviews 0 Comment

EUR/USD

Friday passed under the sign of correction, during which the dollar recouped some of the losses it had suffered in the antirally earlier in the week. From the technical viewpoint, over the last five weeks the pair has been in the uptrend. The major issue the markets are concerned about has been “frozen” till September, though already at the end of this week the attention of the markets will be riveted on Bernnake’s speech. In fact, behind all this technical stuff unfairly little attention is paid to the current fundamental news. According to the PMI reports the production has been on more…

Trying to ride the tide

By GG Analyst in Reviews 0 Comment

EUR/USD

Yesterday the single currency dropped below 1.25 for the first time in two weeks. Formally, the worsening of market sentiments was caused by the audacity of the Greek coalition. Many expected that the “pro-european” winning parties would support the austerity policy, imposed by the EU, but instead the Greeks decided to ride the wave. This wave was heaved by France’s new President Hollande and soon was supported by the Prime Ministers of Italy and Spain. We are talking about concentration on the growth instead of the austerity. Yesterday the Greek parliament eagerly discussed the postponement of the budget consolidation for 2 more…

Back to 2009?

By GG Analyst in Reviews 0 Comment

EUR/USD

The miracle that was awaited by many hasn’t happen. The utterly poor EU Prelim PMI figures that came in yesterday morning deeply upset the market participants. Yet unfortunately it was not the only bad news of the day.  According to the Markit PMI data for Germany, the affairs of the local manufacturers are now at their worst since summer 2009. The preliminary PMI figure for June dropped down to just 44.7. France and Euro-Zone in general feel a bit better then forecasted. But we believe that they won’t be able to show better dynamics than Germany for any significant space of more…

EURO: Reversal or Sales Opportunity?

By GG Analyst in Reviews 0 Comment

EUR/USD

Markets cannot remain in sell mode all the time. At one time or another the ticker will swing the other way. Perhaps, we will see one of these moments in the near future. The euro has found the support just above 1.26. This happened despite the S&P’s logical decision to downgrade the rating of the European rescue fund (EFSF) after lowering France’s rating. The good news here is that the lending capacity of the fund hasn’t been affected.  It still can lend up to 440 billion euro to the troubled European nations. That piece of news provided a short-term support to more…