EURUSD is ready to pierce the resistance

By GG Analyst in Reviews 0 Comment

EUR/USD

The euro doesn’t even think to retreat. Yesterday’s correction in the pair from 1.3790 to 1.3740 by the beginning of the US session had ended with another uprise to the upper bound of the new channel. And in the Asian session today after a short respite the pair is again testing the resistance of the channel. Among yesterday’s statistics only the Consumer Confidence Index for the eurozone is of interest – it showed some improvement. However, it is hardly possible that growth of the index from -14.9 to -14.5 is the reason for the positive sentiment in regard to the single more…

Roller-coaster

By GG Analyst in Reviews 0 Comment

EUR/USD

The payrolls caused much trouble to the dollar. The employment stats were poor enough for the market participants to sweep away all thoughts about the stimulus tapering by the Fed in the near future. Yet, the negative news on the labour market didn’t drive the markets into pessimism as stock markets were growing. The US dollar tumbled down to the 23-month low against the euro. From Tuesday’s low of 1.3660 EURUSD has already grown to 1.3790. According to the published statistics, the number of new jobs increased by 148K against the expected 180K.  The unemployment decrease to 7.2% again occurred due more…

USD is sinking because of risk demand

By GG Analyst in Reviews 0 Comment

EUR/USD

Yesterday we witnessed a splendid rally against the dollar. Let’s be honest, it was quite a surprising thing. EURUSD grew from the lows of Thursday (1.3470) by over two figures. The markets slowed down only near the yearly highs, at 1.3680. Now we see some consolidation, so the pair has managed to retrace by 20pips off yesterday’s highs. When ascending, stock markets managed to hit a fresh historic high at 1733 (for the December futures). Psychologically the optimism is understandable: the markets got the long-awaited relief and the debt ceiling increase, which is able to arouse demand for risky assets. But more…

Great expectations and grim reality

By GG Analyst in Reviews 0 Comment

EUR/USD

The negotiations on Capitol Hill have stalled. The traders, who hoped that an agreement would have been reached by Monday, are now utterly disappointed, which results in a stock market correction after the heavy growth at the end of the previous week. See how phantom the reasons for recent growth of stocks have been – it’s been based only on the suppositions of progress, without any real evidence of such. So don’t be surprised if in the coming hours you will be a witness of no less impressive retracements. The politics is quite a phantom and unsteady thing. The economic stats more…

Unpredictability of Forex

By GG Analyst in Reviews 0 Comment

EUR/USD

Stock exchanges sighed with relief on the news that Obama and the republican leaders hope to avoid a government default. The recent messages point out that the best thing we can get now is an agreement on a short-term debt ceiling increase to gain time for negotiations. As we saw in the preceding three times, the farther the deadline was the farther the positions of the parties were. Now there are more incentives to look for a compromise to overcome the political crisis. But it is not our case. Thus, the US markets have grown by almost three percents from the more…