QE is getting out of date

By GG Analyst in Reviews 0 Comment

EUR/USD

EURUSD is already testing the resistance at 1.3550. Actually, the pair has already managed to go above this level, but yet it is too early to celebrate victory over this resistance. Anyway, the fact remains that the pair is still gradually purchased. There hasn’t been much news since the beginning of the week, so the market mechanically has continued the same trend. Today it is worth paying attention to the US inflation and retail sales statistics. Existing Home Sales are also noteworthy. It will be statistics for October, when a part of government services were closed for more than two weeks. more…

Toward the mountaintop, inch by inch

By GG Analyst in Reviews 0 Comment

EUR/USD

The euro keeps recouping its losses and has already recovered to the levels seen before the ECB’s rate decision. 1.3500 had been broken by the beginning of the EU session, after which bulls wanted to take the pair higher, but were stopped at 1.3540. The bears are retreating, albeit gradually. To surrender there should be more solid reasons and there hardly was any yesterday. In the meantime, stock markets were making their way up for the most part of the day. At the beginning of trade S&P 500 hit 1800 and Dow broke above 16000, but then players decided to start more…

The broken attack on USD

By GG Analyst in Reviews 0 Comment

EUR/USD

The US employment statistics proved to be favouable, though all the short-term growth potential of EURUSD had been “eaten away” by the market movement a day before. As a result, the dollar bulls failed to bring the pair below the lows of the previous day, yet the decline from 1.3435 to 1.3312 can hardly be called unimpressive. So, what was good about the employment statistics? First of all, the number of new jobs in October exceeded 200K (204), moreover the rates of the preceding two months were also revised up. Thus, the average rate for the last three months is also more…

The market froze expecting Draghi and US stats

By GG Analyst in Reviews 0 Comment

EUR/USD

Forex in general and EURUSD in particular are still in the standby mode, all waiting for Draghi’s commentary to the decision of the ECB’s governing council and for the release of the US GDP for 3Q and of unemployment claims, which can help to determine the trends of the labour market before tomorrow’s payrolls. The consensus forecast of economists doesn’t speak about changes in the refinancing rates and the deposit facility rate, but the community is waiting that Draghi will point out some measures to normalize liquidity in the banking sector of the region, as the latter is stalled getting ready more…

The need and chance for easing by ECB

By GG Analyst in Reviews 0 Comment

EUR/USD

On Friday USD purchasing continued and only on Monday we could see some stabilization. However the latter had been preceded by a serious attack on the euro during the Asian session, due to which EURUSD had tumbled down to 1.3440 at some point. It happened on reaction to the words of FOMC’s Richard Fisher, who criticized the US government for impeding the recovery. Anyway, the single currency found strong support at the level of its 7-week lows. The thing is that the pair has been purchased more than once at 1.3470 since the end of September. Later the pair stabilized at more…