USD holds the line pretty well, for now

By GG Analyst in Reviews 0 Comment

EUR/USD

The US dollar managed to preserve its positions on Monday. For EURUSD absence of motion can signal that bulls are moving up fresh reserves. The pair needs a break as technically it now looks overbought or quite so, depending on the technical indicator considered. In the meantime, the American currency, taking advantage of the opportunity, has been gathering momentum at other ‘fronts’. Stock traders decided to take their profits. The optimism, aroused by the employment statistics, didn’t last for long. To stir some considerable selling in the euro and stock exchanges we need a serious reason, but as we go forward more…

The strong payrolls didn’t help USD grow against EUR

By GG Analyst in Reviews 0 Comment

EUR/USD

And again the euro is growing despite the news. The preceding eventful week ended with the US employment stats. The November report met the market’s high expectations and even surpassed them somewhere, but failed to produce any continuous effect on the euro, which eventually grew against USD. Now the euro/dollar is above 1.3700, which is the highest level since the end of October and within the reach of a long-term resistance (1.3750). This resistance is rather conventional, so we can hardly expect a burst of activity, should it be broken. The previous highs (1.3785, 1.3815, 1.3830) are of more importance now. more…

It’ll be hard for payrolls to strengthen USD

By GG Analyst in Reviews 0 Comment

EUR/USD

The ECB with Draghi at the head didn’t suggest any new incentives or ways to stimulate money supply in the eurozone yesterday, moreover they made it clear that the issue didn’t have any discernible outline even in the discussions. In this connection purchasing of the single currency was an understandable and justified reaction of the market. As a result, since the beginning of the press-conference the euro/dollar has grown by about a percent and is trading at the five-week high of 1.3670. But for the strong US statistics, it could be much higher. Yesterday’s statistics proved to be much better than more…

Ambivalent Forex

By GG Analyst in Reviews 0 Comment

EUR/USD

The markets are still moving in different directions. The single currency is strong enough to recover, while the stock markets are in the red zone. Yesterday the euro dropped to 1.3530 for a while, but now it is again attacking 1.3600. The currency’s fall was spurred by the ADP’s favourable employment statistics. In November the non-farm employment grew to 215K (against the expected 172). Besides, the rates of October and September were revised up, together making by 94K more than estimated before. This revision has brought ADP’s data closer to the official statistics, which have been showing higher rates recently. This more…

The broken attack on USD

By GG Analyst in Reviews 0 Comment

EUR/USD

The US employment statistics proved to be favouable, though all the short-term growth potential of EURUSD had been “eaten away” by the market movement a day before. As a result, the dollar bulls failed to bring the pair below the lows of the previous day, yet the decline from 1.3435 to 1.3312 can hardly be called unimpressive. So, what was good about the employment statistics? First of all, the number of new jobs in October exceeded 200K (204), moreover the rates of the preceding two months were also revised up. Thus, the average rate for the last three months is also more…