Unsteady growth of EURUSD

By GG Analyst in Reviews 0 Comment

EUR/USD

The euro bulls were very close to breaking through 1.31 yesterday. The uptrend in the euro can tell favourably on the demand for debt securities of the EU troubled countries. Another positive fact from the technical viewpoint is breaking through the 200-day MA, which happened last Thursday in the volatile session after Draghi’s speech. Besides, strengthening of the single currency goes in line with our opinion regarding Forex and its cycles. The fundamental data keep us from recommending to stake everything on buying the currency. First of all, we have a continuous uptrend of the US stock markets, which may start more…

Sad payrolls

By GG Analyst in Reviews 0 Comment

EUR/USD

The published employment statistics showed that the warning signals of other indicators earlier last week had been absolutely correct. According to the latest labour market report  the number of jobs in the USA grew just by 88K against the expected 190K. In line with the recent correlations the US dollar was falling on the poor stats. The single currency went above 1.30 at some point, which had been last seen only on March 25. Now the euro is trading slightly below this level – at 1.2990. In the meantime, the US exchanges were in correction. Maybe it is too early to more…

Forex wild dancing

By GG Analyst in Reviews 0 Comment

EUR/USD

It was a nervous and busy day yesterday. The single currency was yielding to the pressure put by the dollar demand. Here we observe quite a strange correlation and would like to enlarge on it. The large-scale selling of the yen stirred all the crosses with it, which in its turn forced market players to take their profits and switched to the liquid assets like dollars. This is where the decline of the euro by the beginning of the EU session came from. Further the initial decline was gradually offset. But still the pair hadn’t managed to recover fully by the more…

The BOJ shifts goals

By GG Analyst in Reviews 0 Comment

EUR/USD

It’s a big day for the single currency today. Since Draghi took up the post as the ECB’s head the euro has become much more volatile during press-conferences after the bank’s meetings. It’s mainly due to the fact that Draghi actively employs non-traditional means to help the suffering economy of the eurozone instead of sticking to the formal approach of his predecessor Trichet, who generally strived to maintain inflation. Besides, Mr Draghi’s forecasts prove to be much more precise. For instance, he promises that the EU economy will turn to growth in the second half-year. Judging by the statistics, this acceleration more…

A new quarter, old trends

By GG Analyst in Reviews 0 Comment

EUR/USD

EUR is again on the defensive. Since the end of the previous year we’ve often observed long-term trends in the currency markets, one- or two-month long. It’s noteworthy that while in the previous years  we saw a division into risky/safe currencies and assets and unison movements in accord to this division, this year attacks have been mainly launched at one particular currency. Since February such an attack has been targeted at the single currency. The pair, gradually falling from 1.37, reached 1.2750 at the end of the previous week. Clumsy attempts to bounce  off on the almost low trade volume on more…