Bulls seek to close the month above 1.30 in EUR

By GG Analyst in Reviews 0 Comment

EUR/USD

Instead of the expected growth the US dollar demonstrated a decline yesterday. It’s remarkable that EURUSD managed to get above 1.30. If the pair consolidates at this high, by the beginning of the week and the month we will get the rate above the important psychological level and above the 200-day MA. This disposition can arouse a considerable purchase interest. We still have doubts about the further growth, having in mind the US and EU fundamental indicators, but are less sure that this scenario will develop in the near future. As this week has showed, the US dollar does not necessarily more…

Slight attempts to rise

By GG Analyst in Reviews 0 Comment

EUR/USD

The exchanges, especially the Japanese Nikkei, have slightly moved off yesterday’s lows, recovering from the heavy selling. Once again it supported such EU currencies as the euro and pound. Yesterday right after the release of the US statistics EURUSD rose to 1.2950, now it is trading a bit above 1.29. Our scenario of a grand downward reversal of the markets hasn’t developed yet, but it is obvious that there aren’t anything that would arouse growth. The fears, connected with the release of the EU preliminary PMI, haven’t realized as most of the published indices proved to be better than expected. The more…

Bernanke: a dove with a hawkish beak

By GG Analyst in Reviews 0 Comment

EUR/USD

Bernanke and FOMC’s meeting minutes arranged a roller coaster attraction for the markets yesterday. Since the speech of the Fed’s head to the Congress was the main event of the day, before it the markets had been quiet, gradually selling the dollar and purchasing income assets (now probably only stocks belong here). The US currency started falling more intensely when Bernanke mentioned that if the stimulus was curtailed too soon, it might hamper the labour market. The stock market hit new highs and EURUSD shot up to 1.30. However, it failed to consolidate there as then followed an avalanche of selling, more…

Have patience

By GG Analyst in Reviews 0 Comment

EUR/USD

The failures in the first half of the day didn’t distress the euro. FOMC’s member Bullard made it clear that the Fed was not going to curtail the stimulation programme in the near future. Anyway, the market reaction was relatively reserved as the markets were waiting for today’s speech of Bernanke. In the meantime, the euro is consolidating above 1.29, which didn’t yield yesterday morning. And again growth of the single currency has been caused by the upward movement of stock exchanges instead of the positive environment in the euro zone. This growth will hardly be long-lasting. The US stock markets more…

Timid attempts of EUR to go up

By GG Analyst in Reviews 0 Comment

EUR/USD

The US stock market is hitting new highs, albeit not as confidently as before. This craving of investors for the yield affects EURUSD. We can’t say that it will give rise to an ascending trend, but it is quite enough not to allow a drop in the pair. Last night the pair tried to break above 1.29. It failed, but the current position is a figure above Friday’s low. There aren’t any serious moves due to slack trading on Monday (most European countries had holidays) and absence of important macroeconomic news. Today this news vacuum in the euro zone and the more…