Forex wild dancing

By GG Analyst in Reviews 0 Comment

EUR/USD

It was a nervous and busy day yesterday. The single currency was yielding to the pressure put by the dollar demand. Here we observe quite a strange correlation and would like to enlarge on it. The large-scale selling of the yen stirred all the crosses with it, which in its turn forced market players to take their profits and switched to the liquid assets like dollars. This is where the decline of the euro by the beginning of the EU session came from. Further the initial decline was gradually offset. But still the pair hadn’t managed to recover fully by the more…

The BOJ shifts goals

By GG Analyst in Reviews 0 Comment

EUR/USD

It’s a big day for the single currency today. Since Draghi took up the post as the ECB’s head the euro has become much more volatile during press-conferences after the bank’s meetings. It’s mainly due to the fact that Draghi actively employs non-traditional means to help the suffering economy of the eurozone instead of sticking to the formal approach of his predecessor Trichet, who generally strived to maintain inflation. Besides, Mr Draghi’s forecasts prove to be much more precise. For instance, he promises that the EU economy will turn to growth in the second half-year. Judging by the statistics, this acceleration more…

Overcoming the resistance

By GG Analyst in Reviews 0 Comment

EUR/USD

Against our expectations, yesterday proved to be quite a busy day. The initial impulse to sell the euro has been quickly played out and then followed by purchases of the currency starting at 1.2870. In the mid of the US session EURUSD rose to 1.2870 at some point and during trading in Asia today almost hit 1.2880. Yet, the growth impulse is almost exhausted. Most commentators attribute appreciation of the pair to the selling pressure in the dollar, which was caused by the poor Manufacturing PMI data  from ISM. Against the expected preservation, the growth rate slowed down in March. The more…

EUR drift

By GG Analyst in Reviews 0 Comment

EUR/USD

The single currency keeps drifting down. The periods of consolidation are followed by sales. Now, when most exchanges are closed for the Catholic Easter, the market, most likely, will trade sideways. The week promises to be quite eventful, despite today’s lull. EURUSD is again at the local lows, below 1.28. Now it is trading at 1.2780, while last week’s low was 1.2750. It’s unlikely that slack trading in a few markets will provoke the break of this support. The currency markets in such days may be very volatile should some extraordinary events occur. But in the absence of such events currencies more…

A slack bounce of EUR

By GG Analyst in Reviews 0 Comment

EUR/USD

Opening of banks in Cyprus let the single currency heave a sigh of relief yesterday. No doubt, the euro grew mainly on positive sentiments, nothing more. There are still no reasons to believe that tomorrow things will be better than yesterday. Purchases of the single currency were supported by the inclination to take profits from the previous drop. Yet the bulls didn’t manage to push the currency far from the four-month lows. EURUSD was growing to 1.2840, but now is again hovering at 1.2800. We shouldn’t expect any volatility in the markets  today, as most of them are closed for the more…