Summers’ refusal boosted USD selling

By GG Analyst in Reviews 0 Comment

EUR/USD

Just like on Thursday, Friday’s trading got nowhere for EURUSD. The pair was drifting between 1.3250 and 1.3320. It happened since everybody already was in anticipation of the Fed’s decision, which will be announced only this week, and since there was no important news, which could push the market beyond the traded levels. Such news came out a bit later, at the weekend. Lawrence Summers withdrew his name as a candidate for Federal Reserve chairman, which let the markets fly up at the weekly opening.  The reason standing behind that is Summers’ advocacy of the stimulus rollback in a much nearer more…

Expanding discrepancy

By GG Analyst in Reviews 0 Comment

EUR/USD

Yesterday we said  that it was high time for the markets to start correcting. However, yesterday’s move can hardly be called a correction in the full sense of the word, as the single currency failed even to go above the intraday low of Wednesday and the daily high was almost the same as a day before. So, now we can speak rather about the end of growth. At such moments the most cautious traders take their profits, but the majority of traders haven’t joined the movement yet. It can be easily understood, as the most important event of these days  – 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…

USD is in full retreat

By GG Analyst in Reviews 0 Comment

EUR/USD

Albeit with a certain delay, the markets seem to get imbued with the realization that the stimulus rollback won’t take place as soon as supposed before. Against this background money has again started flowing into risky assets. More so, some agitation can be observed in the developing markets as well, which in its turn helps commodities and commodity currencies. In general, the dollar is depreciating across the board. EURUSD was on the rise all through the day yesterday. And if before the beginning of the active Asian session growth hadn’t been very fast, afterwards it picked up speed. As a result, more…