All ears into Draghi’s speech

By GG Analyst in Reviews 0 Comment

EUR/USD

It seems the markets got stuck at one spot again. Earlier it was the channel between 1.3250 and 1.3400, where EURUSD was trading for a couple of weeks. Now the support is at 1.35 and the resistance is marked at 1.36. Yet, Friday’s upsurge on the payrolls was an exception, but we attribute it to nervousness of the markets. This week began with the return to the lower bound of the channel, i.e. to 1.35. On Tuesday the pair retraced and hit 1.36, while on Wednesday it again travelled down to the bottom of the channel. Now trading is held at more…

A long and bumpy road

By GG Analyst in Reviews 0 Comment

EUR/USD

Last week ended with a correction. Players were too weak to break through 1.34 in EURUSD. As before, they just hit the level without being able to consolidate at it. The bulls should be encouraged by the fact that Friday’s retracement was not that big as at the beginning of the week. Thus, we still expect that growth will continue in the coming days.  What we need is a good reason. It’s quite likely that the euro will again be moved by news from Spain. In the previous two weeks the rally was provoked by positive results of the auctions. This more…

Are the expectations too high?

By GG Analyst in Reviews 0 Comment

EUR/USD

The slight concession from Boehner inspired the currency markets on Friday. EURUSD was soaring up during the US session and grew on triggering stop orders this morning. The latest maximum hit by the pair is 1.3187. Yet since then the euro has slightly rolled back on the retracement of Asian markets and is now trading close to 1.3150. Possibly, the bulls’ efforts were not vain -the pair rose to its 7-month highs, which opens the way up to 1.3280, the starting level of the May sale. Despite the general optimism, Boehner’s concession is just the first step on a long road. more…

Holiday pessimism in Europe

By GG Analyst in Reviews 0 Comment

EUR/USD

It’s a funny thing – the market is teeming with moves in various directions. The EU currencies (EUR and GBP) suffered a lot yesterday. Oil is going down in price, while the stock market has grown just like other risky assets. No matter how illogical this move is, there are still some signs that the markets are getting back to reality. So, yesterday the single currency dropped down after the ECB’s revision of the EU economic growth outlook. Mr. Draghi was rather pessimistic in his comments: on average the European economy is forecasted to shrink by 0.3% in 2013. Yet, as more…

Risk demand is up, however not equally for all the currencies

By GG Analyst in Reviews 0 Comment

EUR/USD

The beginning of November was quite a hard time for stocks and risky assets. However, since the middle of the month the situation began to change for the better. Eventually, the S&P 500 index grew by 0.29%. It’s a petty growth, but taking into account the 6% drop in the middle of November we can speak about a rather good demand for risky assets by the beginning of December. The November sale pushed the stock to the levels where they again became attractive for buyers. The currency market, however, lacks this consistency. EURUSD got above 1.30 on the last trading day more…