USD wins back important technical levels

By GG Analyst in Reviews 0 Comment

EUR/USD

The bulls found enough strength to repel another attack against the euro on Friday. It would have been too impudent of them to put the euro/ dollar down to another local high for the third day in a row, depriving it of over two figures. It didn’t happen though and the situation was developing under the basic scenario, that we had described earlier on Friday. EURUSD was gradually rising to 1.3800 and even got above that level for a while. Anyway, the week was closed below that level, the general downtrend still holds. The geopolitical tension around the Ukraine is still more…

Steel nerves of US investors

By GG Analyst in Reviews 0 Comment

EUR/USD

The pressure didn’t weigh on the markets for long. There is a strong feeling that there is little that can distract investors from buying the US stocks: neither overbought markets, nor geopolitical troubles in Europe, nor bringing of the Fed’s rate increase closer by half a year. The decline of the US stock indices caused by Yellen’s comments on Wednesday was bought out yesterday and by now we’ve returned to the same positions as last week and are generally in the area of record highs. Anyway, we can’t say the same about the euro/dollar. Yesterday purchasing of dollars against the EU more…

Two sides of the same day

By GG Analyst in Reviews 0 Comment

EUR/USD

The single currency suffered heavy selling. Before that, earlier in the day, bulls had tried to attack and pushed the pair up to 1.3966. But then it was no easy matter to find a reason to purchase the euro. Draghi’s comments and concerns about growth in China delivered a double hit to EURUSD. The ECB governor said yesterday that the forward guidance (implying that the rates will remain at the current or lower level for a long time) would, most likely, put pressure on the single currency. Besides, he added that strength of the currency was getting more and more important more…

EUR flew up on Draghi’s inertness

By GG Analyst in Reviews 0 Comment

EUR/USD

Draghi’s press-conference sent the euro much above 1.38. The single currency is now trading at 1.3850. Excluding a short-term upsurge of the pair in December, the pair was that high only in November 2011. Technically, growth of the pair isn’t likely to face any serious resistance right up to 1.4250. The spring triggered and pushed the pair up by over a figure in a couple of hours. It should be mentioned that the upsurge began 45 minutes before the press-conference, which means that the markets presupposed a possibility of the rate cut or measures to increase liquidity in the region. It more…

EUR is a step off 1.37

By GG Analyst in Reviews 0 Comment

EUR/USD

The US dollar keeps depreciating as demand for risky assets is growing. As before the risk demand spurs across-the-board depreciation of the dollar and renders great support to commodity prices. EURUSD managed to get above 1.3650, where from it slipped down at the end of January. Then the pair felt pressed due to expectations that the ECB would soften the monetary policy considering inflation easing. As it turned out, all in vain. The ECB doesn’t seem to hurry with easing of the monetary policy, referring to improvement in the performance of the eurozone. Moreover, one of the main threats of the more…