A rare thing: EUR and USD are both growing

By GG Analyst in Reviews 0 Comment

EUR/USD

On Friday a decisive move was done. Having summoned their strength, the bulls defeated the bears and broke through 1.34. Then, after some consolidation, the upsurge continued. As a result, on Friday EURUSD reached the high of 1.3478, the daily low then made 1.3348. The growth was partly boosted by positive Ifo Business Climate in Germany. Again and again we see that indicators show better rates, which promises a higher business activity later in the year. Last week started with the improved ZEW data, which were followed by favourable PMI and at the end of the weak by positive Ifo stats. more…

EUR is still consolidating

By GG Analyst in Reviews 0 Comment

EUR/USD

EURUSD is still squeezed in a narrow price range. Purchases get stronger on the dips below 1.33, but the bears fiercely defend the level of 1.34, actively selling on the moves towards 1.3370. As is usual in such cases, the break through the resistance or support threatens to provoke a powerful movement in one or the other direction. As we mentioned yesterday, the long standstill in an effort to break through 1.34 reduces the chance of an upsurge. The continuous rally in the stock markets confirms this fact. Yet, don’t forget an old expression of Keynes: markets can remain irrational longer more…

A long and bumpy road

By GG Analyst in Reviews 0 Comment

EUR/USD

Last week ended with a correction. Players were too weak to break through 1.34 in EURUSD. As before, they just hit the level without being able to consolidate at it. The bulls should be encouraged by the fact that Friday’s retracement was not that big as at the beginning of the week. Thus, we still expect that growth will continue in the coming days.  What we need is a good reason. It’s quite likely that the euro will again be moved by news from Spain. In the previous two weeks the rally was provoked by positive results of the auctions. This more…

Is the Christmas Forex-rally about to start?

By GG Analyst in Reviews 0 Comment

EUR/USD

Don’t be surprised at yesterday’s retracement of the markets. It doesn’t really mean that the further upward move is not possible and that the market is disappointed because Bernanke has proved to be tougher than needed. Yesterday’s move down as well as selling late on Wednesday has just marked taking of profits and rebalancing of positions before the Christmas rally. Yes, we believe that it hasn’t started yet, since the level of 1.3140 hasn’t been passed. The bears have pushed the pair off this level frequently this year. But this time there’s a good chance that the level will be passed more…

Unsteady upturn

By GG Analyst in Reviews 0 Comment

EUR/USD

The markets keep going up, albeit rather unsteadily. The common currency is systematically purchased against the dollar. This week the slope of the curve is equal to the one, which was observed in the previous three weeks. Yet, so far there hasn’t been even a single attempt to break lower, as it was one, two and three weeks ago. However, we should mention that opportunities for such a retracement will be quite many in the coming days. The major risk is posed by the ECB’s meeting with the further press-conference of Draghi, scheduled for tomorrow. Regarding the USA, the ADP employment more…