Bears will try to break below 1.35

By GG Analyst in Reviews 0 Comment

EUR/USD

Players are gradually taking their profits after selling of USD. As we know, the market can go against fundamental factors for a while if technical analysis presupposes such a movement. Something like that was observed yesterday in the euro/dollar. The Prelim PMI for the eurozone was not bad. Despite the disappointment with slower growth of Germany’s manufacture, where the index has fallen from 51.8 down to 51.3, the services sector has surged, demonstrating the highest activity since last February. And it’s been only the third month for the last 2 years, when Germany’s services sector improved so much. So, the news more…

Get ready to troubles in the eurozone

By GG Analyst in Reviews 0 Comment

EUR/USD

A day after the Fed had announced about its idleness the markets corrected just a little bit. For example, EURUSD didn’t even go below 1.35. Taking into account that a week ago it was below 1.33 and two weeks ago – around 1.31, it is quite a considerable progress. From the viewpoint of technical analysis, purchases became more intense after the pair had managed to consolidate above the 200-day MA on one of trading days of September. It means that coming back from the summer holidays “big money” saw a bullish picture in the pair. On the fundamental side the reason more…

Irresolute Bernanke and falling dollar

By GG Analyst in Reviews 0 Comment

EUR/USD

Are you surprised? If you a regular reader of our reviews, then scarcely. At the September meeting of the FOMC it was decided to change nothing in the policy of the Fed. The US dollar fell against the single currency by more than two figures. Partly it happened due to the local highs being close (1.34) – breaking through them gave rise to the across-the-board selling of USD. As a result, the movement stopped only at 1.3520, where the pair keeps consolidating now. Besides the traditional list of estimates of economic indicators the commentary to the decision also mentions that the more…

Be careful, bulls

By GG Analyst in Reviews 0 Comment

EUR/USD

Americans were again raising the general demand for risks yesterday. As a result, without any particular reason, from the beginning of trading in America, growth of US corporate stocks (except for Apple) was pulling up EURUSD. Against the dollar the single currency grew above 1.3300, though consolidation in this area cannot be called strong yet. Earlier, in August, the pair was getting support at these levels, which may serve as a good reason for a fierce fight this time as well. Very often strong supports turn into strong resistances and vice versa. As we wrote yesterday, the European statistics is signaling more…

EUR doesn’t budge even despite weakness of USD

By GG Analyst in Reviews 0 Comment

EUR/USD

Yesterday risk demand was getting stronger all through the day. It wasn’t seen much in the performance of the euro/dollar, which was fluctuating between 1.3230 and 1.3275 and failed to go above the extremums of the previous day. It wasn’t a big surprise, taking into account that there were no important macroeconomic stats released and the news that Obama had taken a less aggressive stance regarding Syria was already built in the rates. Anyway, today bulls tried to speed up the pair, hitting a new local high of 1.3281. Last week we mentioned that the period of strong macroeconomic data from more…