Impudent bulls and bears

By GG Analyst in Reviews 0 Comment

EUR/USD

Yesterday bulls and bears were again measuring their strength against each other, trying to budge EURUSD. Either the parties were equally strong or they were not willing to continue the fight, but after a steep drop the pair in a while returned to the previous levels. Impertinence of bears showed itself when they intensified their pressure on the euro right after the release of relatively good news from Germany. The Ifo statistics indicated growth of the Business Climate Index to the highest level over the last 16 months and, therefore, exceeded expectations. In August the index has risen to 107.5 against more…

America’s slowing down even without cuts in public spending

By GG Analyst in Reviews 0 Comment

EUR/USD

Signals of economic activity subsidence after a slight surge in spring keep coming from America. Following the decline of new home sales (by 13%), goods orders also sharply decreased. This index lost 7.3%, which is twice as much as the expected correction of 3%. Besides, the growth rate a month ago was also revised down. All in all, yesterday’s drop crossed out more than half of increase in goods orders over the preceding three months. In connection with these statistics the following question inevitably comes to mind: weren’t the data on acceleration of the US economic growth in the first half-year more…

US housing market: everything okay?

By GG Analyst in Reviews 0 Comment

EUR/USD

New home sales in the USA dropped right by 13.4% in July. That unexpectedly sharp decline gave rise to dollar selling in the second half of Friday’s trade. EURUSD flew up by half a figure to 1.3400. That was the third attempt to break through that level for the last three weeks. The first attempt was in the first decade of August – then the pair just touched that level. And the other two tries took place last week, yet each time the pair failed to consolidate above those levels. At the moment trading is held at 1.3380 and the pair more…

USD is up against the developing currencies and Aussie

By GG Analyst in Reviews 0 Comment

EUR/USD

As could be expected, trading crossed the bounds of the narrow range, thus arousing strong volatility in the currency market without any particular reason. The euro purchases had led the pair from 1.3320 to 1.3450 by the beginning of the active US session.  Thus, the pair entered the area of half-year highs, going beyond the peak of June 19, which made 1.3420. It is also remarkable that this movement was not immediately followed by a retracement. Up to now trading is held above 1.34, which speaks about strength of the bulls and inspires hope for further growth. Anyway, the picture may more…

EUR got stuck in the corridor

By GG Analyst in Reviews 0 Comment

EUR/USD

In the absence of any significant news trading in the markets is usually nervous and technical levels of support and resistance become particularly important for traders. Since neither Europe nor the USA didn’t publish any important statistics yesterday and are not going to release any today, the market, being left to itself, is drifting in the corridor of 1.3300-1.3370. This range can’t be called very narrow, but note that since the end of Thursday the market has jerked to its bounds and stayed there for a while, preferring to return to the area between 1.3325 and 1.3355. As there are no more…