Politics force to avoid risky assets

By GG Analyst in Reviews 0 Comment

EUR/USD

And again politics are weighing upon Forex. This time the world’s major currency has troubles on both sides straight away. The USA is now one more step closer to the government shutdown (for the first time since 1996) and in Europe Berlusconi is about to hold another election. Both in the former and in the latter case the story isn’t new and has always turned out well, as politicians eventually  has found a compromise, very often being the delay in taking of “the most important decision”. A few more details on this. The US House of Representatives, which is made up more…

Tiresome flat trading

By GG Analyst in Reviews 0 Comment

EUR/USD

The single currency finds it difficult to hold above 1.35. Wednesday’s attempts to get back above this level turned into strengthening of pressure on the pair on Thursday. Yet, there wasn’t any utterly disappointing news about the eurozone. The market participants should generally feel the difference between the US and EU statistics. If with the former we are trying to assess how strong the growth is, with the latter we just feel the pulse: if the patient is alive or not. It is also important to feel this difference in the commentaries of officials. Thus, ECB’s Coeure reminded yesterday that the more…

A sudden return of EUR

By GG Analyst in Reviews 0 Comment

EUR/USD

Quite unexpectedly for us the currency market turned in the direction of the dollar’s decline. It occurred even before the beginning of the EU session, that is without any reason in the news background. As a result, from the daily low, which we described in our yesterday’s review (1.3461), the pair grew to 1.3536 in the midst of  trading in the USA. The movement to that area marked a return to the zone of highs after the Fed’s decision not to change the policy. If so, it means that the market has decided to get even higher, collecting stops above the more…

A modest downtrend

By GG Analyst in Reviews 0 Comment

Yesterday the market kept pushing the single currency down. It is remarkable that this process is going on gradually, without jerks. Already for five trading sessions in a row EURUSD has been showing a series of descending highs and lows. Yet, if at the initial stages the market was moving against the news, now the process is in tune with the released statistics. Yesterday’s data on German activity by Ifo proved to be worse than expected. Instead of the supposed growth to 108.4 the index reached only 107.7. It is not bad, taking into account that it is the highest level more…

Bears will try to break below 1.35

By GG Analyst in Reviews 0 Comment

EUR/USD

Players are gradually taking their profits after selling of USD. As we know, the market can go against fundamental factors for a while if technical analysis presupposes such a movement. Something like that was observed yesterday in the euro/dollar. The Prelim PMI for the eurozone was not bad. Despite the disappointment with slower growth of Germany’s manufacture, where the index has fallen from 51.8 down to 51.3, the services sector has surged, demonstrating the highest activity since last February. And it’s been only the third month for the last 2 years, when Germany’s services sector improved so much. So, the news more…