The US economic downturn. The worst is yet to come

By GG Analyst in Reviews 0 Comment

EUR/USD

The bulls finally broke through 1.35 yesterday and pushed the pair up by almost a figure. Already at the end of the New York session there were bold attempts to break through 1.36, but it wasn’t that easy. Today the pair feels like correcting the preceding growth, now being at 1.3550. The market participants seem to be indifferent to the economic news. Neither the favourable report on the US employment by ADP nor the dreadful GDP statistics put an end to the uptrend.  First, there was good news from Europe – the consumer sentiment and business confidence got better. The index more…

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…

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…

Turn for the better

By GG Analyst in Reviews 0 Comment

EUR/USD

The single currency got a strong impulse for growth after the lull on Monday. Formally, it happened after the publication of the BOJ’s decision. Actually, it was just a reason for traders to join the game since earlier they preferred to abstain from trading in anticipation of the major event. Moreover, the purchases of the euro were boosted by the positive news from the region. Dutch Finance Minister Dijsselbloem was elected the new head of the Eurogroup. Besides, it also became known that in March the Eurogroup will consider a bailout of Cyprus. Cyprus is not a big country, but the more…