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…

EUR is still consolidating

By GG Analyst in Reviews 0 Comment

EUR/USD

EURUSD is still squeezed in a narrow price range. Purchases get stronger on the dips below 1.33, but the bears fiercely defend the level of 1.34, actively selling on the moves towards 1.3370. As is usual in such cases, the break through the resistance or support threatens to provoke a powerful movement in one or the other direction. As we mentioned yesterday, the long standstill in an effort to break through 1.34 reduces the chance of an upsurge. The continuous rally in the stock markets confirms this fact. Yet, don’t forget an old expression of Keynes: markets can remain irrational longer more…

Decisive battle between bulls and bears

By GG Analyst in Reviews 0 Comment

EUR/USD

Yesterday there was a real tug-of-war in the markets. It’s surprising that none of the camps won and EURUSD closed out the day just where it started it. The upward impulse in the pair was felt at the beginning of trades in London. Just as we expected, the bulls made another attempt to break through 1.34. The bears proved to be stronger, the pair didn’t even touch this level. The markets gossiped about the problems of Germany’s banks – that some of them would need fresh capital and others would even face splitting. Anyway, the bears failed to launch a full-fledged 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…

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…