The US dollar breaks the important resistance levels

By GG Analyst in Reviews 0 Comment

US Dollar

EURUSD

In our previous reviews, we wrote that the idea is coming back to the market (to buy dollars on the rate increase expectations). The idea was taking out quite cautiously during the last week of September and the first week of October. However, the bears managed to swing the market last week as well as to from a remarkable trend along with breaking some important support levels. In our fist review in October we mentioned that important support levels are 1.1150 and 1.1000. The first one was taken two weeks ago. Bulls tried to oppose, however the selling was activated straightaway more…

Pound repeated abysmal record of Brexit

By GG Analyst in Reviews 0 Comment

GBP

EURUSD

The pair was testing the downtrend resistance, which occurred in August, but finally could not break it. During first trading week of the new month and quarter, the American currency was feeling pretty good as a whole. It is quite possible that the markets will show higher interest to the dollar again as soon as yield curve changes its shape. Market participants are becoming more confident in rate’s increase in December by Fed Reserve, thus, the attractiveness of the American assets is growing in comparison with Euro assets, where both rate rising question and QE ending remain open. Markets confidence was more…

Following GBP other currencies appeal their boundaries on forex

By GG Analyst in Reviews 0 Comment

England

EURUSD

Forex was waiting for the idea during the third quarter. It did not appear, therefore EURUSD has changed for less than 1.5 figures during the last three months. Volatility indicator ATR (22), showing daily range of the last month, is being on the lows from the middle of 2014 during almost two months. On those days indicator was going even lower – to 40 points from the current 60, but we could see the movement, which we do not have now. It is a heaven for those who prefer range trading in Forex. Moreover, the actual range of trading in the more…

Federal Reserve started the wave of USD weakening

By GG Analyst in Reviews 0 Comment

USD

EURUSD

The American Fed Reserve managed to cause weakening of its own currency. On Wednesday dollar turned downwards that reflected in EURUSD rise to 1.1250 area on Monday. The same levels are highs of the previous two weeks. Moreover, the current levels are close again to the resistance line of the downtrend, which turned the pair in August and September. Hence, the current marks represent important resistance area. Now it will not be easy for the dollar to turn back to growth, since the key event – Fed Reserve meeting – has shown not that firm attitude of committee members as expected more…

USD demand will occur before Fed meeting

By GG Analyst in Reviews 0 Comment

USD

EURUSD

During last week, the main currency pair in Forex was moving around 1.1250. Decline of retail sales in August, lower than expected, caused temporary drop of dollar, while EURUSD grew to 1.1280 area– the high since September 9 – for a short period. The core sales decreased by 0.3% after growing by 0.1% a month before and decline expectations by 0.1%. There were enough buyers of the American currency, who returned everything to the place by the end of the day. Already then, the markets showed the unwillingness to sell dollar shortly ahead September FOMC meeting with the results release on more…