USD bulls in search for stops

By GG Analyst in Reviews 0 Comment

EUR/USD

The single currency is helplessly crawling along the bottom of this week’s range. Yet it is remarkable that the attempts to send the pair down don’t stir due interest among buyers. This morning, for example, for no particular reason and even before the release of PMI stats EURUSD was pushed down to 1.3437, that is 20 pips below the daily open. Supposing that technically the pair will target at the support level near the preceding local low, we can expect a reversal only near 1.3290. It means that bears have a figure and a half in store. However, we can hardly more…

EUR is down against USD and GBP

By GG Analyst in Reviews 0 Comment

EUR/USD

Yesterday bears intensified their pressure on EURUSD, pushing the pair down to the lowest levels since last November. Now trading is held close to 1.3460. Bulls simply didn’t have enough strength to buy out EURUSD at 1.3520, so the strong selling impulse sent the pair down and now the latter doesn’t hurry to rise from there. Softness of the ECB’s monetary policy (the recent rate cuts and preparations for TLTRO) combined with the cyclic slowdown of the economy after quite a decent growth in the first quarter don’t make the single currency the best candidate to grow. Besides, yesterday the USA more…

USD’s futile attempt to trigger stops

By GG Analyst in Reviews 0 Comment

EUR/USD

The story with the Malay plane combined with closeness of the local lows in EURUSD provoked emergency liquidation of long positions. The pair was picked up below 1.35, but before that it managed to gather stops after reaching 1.3490. Bears were very close to the annual lows, set in early February (1.3476), but failed to cross them. Anyway, the week was closed above 1.35 and this morning the single currency was still being purchased.  Now the pair is trading at 1.3540, having come off the dangerous lows, which are able to provoke further decline. There is no important news scheduled for more…

USD’s attack on EUR

By GG Analyst in Reviews 0 Comment

EUR/USD

The single currency was depreciating all day long yesterday. The pair managed to stop its decline only close to 1.3520. Now trading is held about 10 pips above this local low. Despite the fact that the considerable part of the decline occurred after Yellen’s speech before the Congress on Tuesday, it is hard to find connection between these events as other currencies don’t show such dynamics. The cable, the Aussie and the yen suffered some losses yesterday and the Loonie didn’t manage to grow. The reason for the pressure put on the euro is seen in the policy easing in the more…

GBP is the only one to resist USD

By GG Analyst in Reviews 0 Comment

EUR/USD

The comments, preceding yesterday’s speech of Yellen, often contained hints at the possible beginning of an uptrend in USD. Actually, Yellen’s speech was of the same mood as the previous comments, that is rather dovish and cautious. Anyway, market participants got what they wanted – the dollar started its ascent. Addressing the Congress yesterday, Yellen drew attention to the persisting high rate of unemployment and the need for the stimulating monetary policy. In our opinion, these words clearly unveil the fear to allow sharp and quick toughening of the monetary policy and repeat the mistake, made by the Fed in the more…