Dying carry-trade

By GG Analyst in Reviews 0 Comment

EUR/USD

The markets are still in dissonance. Yesterday the single currency was appreciating while the US stock exchanges were on the decline. The EU markets were closed and will be back to work only today. The thin pre-holiday currency market was warmed up to the degree that triggered stop-orders. As a result, the daily minimum was set at 1.3180 at the beginning of trades and then with short hitches the pair got to 1.3250. Anyway, the pair didn’t manage to grow higher – instead traders got down to collecting their profits and activity started to gradually subside. This day promises to be more…

Pre-holiday market speculation

By GG Analyst in Reviews 0 Comment

EUR/USD

Yesterday the US markets went through a one-minute drop by over 2% on the news that the House of Representatives wouldn’t vote for adopting a new fiscal policy. Republican leader Boehner, the speaker of the House, announced that since the bill didn’t have enough advocates, the vote would be postponed. Boehner’s “plan B” hasn’t worked. Now both the parties have to quickly come to a mutual agreement, otherwise the automatic spending cut and tax increase will deal a hard blow to the economy. The Forex market took the news calmer. The euro tried to get to 1.33 yesterday afternoon, but in more…

EUR – the strongest major at the moment

By GG Analyst in Reviews 0 Comment

EUR/USD

The markets seem to be gripped by the holiday mood. The decrease in the number of market participants clears the way to stop-order levels. It’s especially typical of our digital era, when trading depends largely on the digital algorithms. At such moments like this the pair, leaving the established trading range, stumbles over an avalanche of stop orders, which boost the further motion etc. In our case, the single currency, cursed by everyone earlier this year, is now the best among the majors. For instance, against the dollar the euro has been appreciating for 8 days in a row and is more…

Are the expectations too high?

By GG Analyst in Reviews 0 Comment

EUR/USD

The slight concession from Boehner inspired the currency markets on Friday. EURUSD was soaring up during the US session and grew on triggering stop orders this morning. The latest maximum hit by the pair is 1.3187. Yet since then the euro has slightly rolled back on the retracement of Asian markets and is now trading close to 1.3150. Possibly, the bulls’ efforts were not vain -the pair rose to its 7-month highs, which opens the way up to 1.3280, the starting level of the May sale. Despite the general optimism, Boehner’s concession is just the first step on a long road. more…

Is the Christmas Forex-rally about to start?

By GG Analyst in Reviews 0 Comment

EUR/USD

Don’t be surprised at yesterday’s retracement of the markets. It doesn’t really mean that the further upward move is not possible and that the market is disappointed because Bernanke has proved to be tougher than needed. Yesterday’s move down as well as selling late on Wednesday has just marked taking of profits and rebalancing of positions before the Christmas rally. Yes, we believe that it hasn’t started yet, since the level of 1.3140 hasn’t been passed. The bears have pushed the pair off this level frequently this year. But this time there’s a good chance that the level will be passed more…