Euro-bears to attack 1.29 again

By GG Analyst in Reviews 0 Comment

EUR/USD

The euro-bears had enough courage, but no strength to test 1.29. On the disappointing Ifo Business Climate statistics the euro sank down to 1.2895. The Ifo index is considered to be one of the best health indicators for the largest EU economy. In September instead of the expected growth it fell down to 101.4, which is the lowest value since February 2010. It should be mentioned here that the falls of such amplitude (-13.7 points after the peak of 115.1 in February) very often forego the periods of economic contraction. Apparently, in the third quarter Germany won’t be able to show more…

Just a regular retracement

By GG Analyst in Reviews 0 Comment

EUR/USD

After the launch of QE3 was announced, the single currency has grown from 1.29 to 1.3170. However, since the beginning of the week the pair has lost already 2/3 of these gains. Once again the markets realize that there’s no such thing as a free lunch, even Dove Ben sees that. As we already mentioned at the end of summer, the markets have climbed too high and want a retracement. One of the reasons why the markets feel agitated is increased US oil inventories. Earlier this index gave good timely signals to the market (weekly releases), but now its trustworthiness looks more…

Markets take a respite?

By GG Analyst in Reviews 0 Comment

EUR/USD

The euro/dollar formed a double top when trying to break through 1.3170 for the second time in the last two trading days. Is it the start of a reversal? Well, probably, but most likely it’s just profit-taking after the significant growth. From the lows of July the single currency has risen against the dollar by 11 big figures. Moreover, the move from 1.26 to 1.31 has happened just within six trading days. Of course, after such a rally the market needs to come round. The caution in relation to the further demand for risk comes as a result of the active more…

Instead of launching QE3 FOMC may just indicate its parameters

By GG Analyst in Reviews 0 Comment

EUR/USD

Commonly the opinions of markets and economists coincide. Eventually, the latter give their recommendations to traders, who thereafter shape the market. But sometimes it is different and now is just the case.  On drawing near the FOMC’s conference, economists feel more and more eager to announce the parameters of new purchases. Yet, many believe that these large-scale purchases won’t take place in September.  We’ve already mentioned that the current situation is not as bad as it was during the previous 2 launches of QE. It would be more correct to say that there exist many threats to the further growth, which more…

The number of buyers is growing

By GG Analyst in Reviews 0 Comment

EUR/USD

It was a rather quiet day yesterday, yet it proved to be favourable for the euro. It’s noteworthy that the signal currency ignored the downward revision of German and Euro-Zone Manufacturing PMIs.  This activity indicator has been below the waterline of 50 points for more than a year (13 months). And its current value makes just 45.1. Anyway, by the end of the EU session EUR/USD rose above 1.26. For more than two weeks the currency has been fluctuating near the upper boundary of the upward channel, which formed at the end of July. Bulls want a move up. At this more…