EUR is nearing 1.35, will it hold there for long?

By GG Analyst in Reviews 0 Comment

EUR/USD

The stock markets after some hesitation continued moving up to the new highs. The risk-sensitive FX currencies followed them. EURUSD is trading close to 1.35. Yesterday’s attempts to break through this level during the US session were halted by heavy selling. The difference between yesterday’s growth and the consolidation phase of the euro is that the US currency is depreciating across the board. Thus, what we see is weakness of the US currency against the background of global optimism, rather than strength of the euro caused by the capital repatriation on the growing confidence in the EU periphery. Unlike the beginning more…

The uptrend coming closer to the end

By GG Analyst in Reviews 0 Comment

EUR/USD

On Friday the euro broke through the bounds of the 2-week range – this was a big step, but now the currency again prefers to sit it out. Trading is again held in the narrow channel, mainly around 1.3450. Undoubtedly, the bulls are getting ready to attack 1.35, but don’t feel strong enough for that at the moment. Psychologically, it would be much easier if it happened together with breaking through 1500 in S&P 500. The attempts of such a simultaneous attack were observed yesterday. However, the stock bulls felt tired after the 8-day rally and decided to have some rest. more…

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…

Don’t try to stop the train running down full speed

By GG Analyst in Reviews 0 Comment

EUR/USD

The tug-of-war in EURUSD goes on. Strong impulses to sell end with gradual purchasing of the pair. Yesterday the lightning sale, which pushed the euro down straight by 60 pips in a bit more than an hour, turned into the victory of bulls. At the end of the day the positive news background finally gained the upper hand. And as a result, we are again about to break through 1.34. Surprising enough, but the good news came from Germany. The preliminary estimate showed quite a handsome increase in the Manufacturing and Services PMIs. In January the Manufacturing PMI grew to 48.8, 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…