JPY and CHF are fading against demand for risk

By GG Analyst in Reviews 0 Comment

EUR/USD

Tuesday was an eloquent reminder of the fight, that is now going on between the dollar-bears and bulls. Yesterday the victory was gained by the former. At the end of the day EURUSD was trading around 1.3260, that is 40 pips below the daily open, and a few hours before that, at the beginning of trading in New York, the pair had managed to go as low as 1.3230. Looking back at the Asian and European sessions, we see that already then the pair couldn’t get a grip on the levels above 1.3310. A few attacks were repulsed, so even the more…

USD stopped falling for a while

By GG Analyst in Reviews 0 Comment

EUR/USD

As had been supposed, there was no important news on Friday, so the market was in the profit-squeeze mode after quite a good rally earlier in the week. During the correction EURUSD fell from the area around 1.34 (Thursday’s high) down to the levels below 1.3320 (on the opening of this week’s trading and now). To some extent the modest performance of the single currency can be explained by weakness of the Asian exchanges, which have dropped down to the six-week lows.  Actually, there’s nothing left for EUR to do but react to the information coming from the outside, as there more…

So the last will be first

By GG Analyst in Reviews 0 Comment

EUR/USD

The dollar keeps getting weaker. It’s depreciating against all those currencies, which were the weakest in the first half year. Anyway, EURUSD is also distinguished by growth. Yesterday the bulls managed to “probe” 1.34. The pair was that high as far back as the middle of last June. Earlier we mentioned it more than once that the pair shouldn’t have any problems with breaking through this level. It’s even possible that the bulls will push the pair up to 1.36, which corresponds to the annual highs, but the further prospects of the pair depend on lots of factors, the majority of more…

A trend change?

By GG Analyst in Reviews 0 Comment

EUR/USD

The single currency failed to break through 1.33 yesterday. The pair was being sold despite the fact that Final PMI for Europe proved to be more positive than expected before. EURUSD stopped growing at 1.3299 in the heat of the EU session and afterwards  was falling down to 1.3230 right till the beginning of the active US session. In its turn, ISM Non-Manufacturing PMI couldn’t support the dollar’s strength. It is a bit surprising as the index totaled 56.0, which was last seen only in February, and, in addition, proved to be much above the previous (52.2) and forecasted (53.2) rates. more…

Changes for the better

By GG Analyst in Reviews 0 Comment

EUR/USD

Forex trading on Thursday was very nervous. The difference between the intraday top and bottom made 130 pips. It’s noteworthy that the rally towards 1.3300 was supported by quite positive statistics from Europe, but the main movement took place in the US session and was spurred by shifts in the US debt market. The latter is heading for higher yield. The minimal 10-year treasury yield of 1.39% about a year ago is now quite far from the current rates, showing the yield of 2.57%. Don’t be surprised if soon last month’s high of 2.76% is broken through and a fresh high more…