Friday profit taking?

By GG Analyst in Reviews 0 Comment

EUR/USD

The trends of yesterday’s sluggish session were quite similar to those seen a day before: gradual depreciation of the dollar.  This is quite likely to develop into a new trend. The reversal ran like this: the slight gradual improvement last week with purchases on the intraday dips spilt over in triggering of stop-orders at the beginning of this week, which is confirmed by long candlesticks on short-term time frames (especially in the 15min-candles). The euro purchases despite the news made it quite clear that the bulls’ intentions were serious. On Wednesday the pair was falling from the daily open of 1.2815 more…

All’s well that ends well

By GG Analyst in Reviews 0 Comment

EUR/USD

Yesterday the market fooled us all. It happens. The euro’s depreciation, caused by the ongoing uncertainty around Greece, attracted buyers, who further lifted EURUSD above 1.28. Last night the pair jumped even higher, to 1.2865, on the news about the ceasefire in the Middle East. Looking at a bigger time frame, we see that EURUSD has been reversing since November 13. Each attempt to push the euro lower spilt over into new purchases – long lower shadows in the daily candlesticks clearly indicate this. It’s remarkable that this coincides with the beginning of the rally in USDJPY. Thus, it follows that more…

Reality Bites

By GG Analyst in Reviews 0 Comment

EUR/USD

Encountering resistance from the IMF, the European ministers of finance haven’t come to terms on the Greek debt issue. The EU and IMF have absolutely different views on the future of Greece. The Fund considers that with the current state of affairs the country won’t be able to observe the terms of the agreement (reduction of the debt to 160% of GDP). And in this case the IMF will be unable to issue another bailout tranche to the country. We, just like most market players, expected that the creditors would finally manage to come to an agreement. This didn’t happen. Now more…

Rating agencies back in the game

By GG Analyst in Reviews 0 Comment

EUR/USD

The market optimism was growing all through the day yesterday, which is clearly seen in several asset classes. For instance, EURUSD grew above 1.28 during the US session, though had started the day below 1.2750. That optimism was caused by the increased hope for the successful competition of the fiscal cliff talks, which in its turn arose on Obama’s confidence about coming to terms with the republicans. The market reacted as if the politicians had never thrown about such assertions, which further proved to be just empty words. Later the market ardour was cooled a bit by the news that Moody’s more…

An opportunity to buy?

By GG Analyst in Reviews 0 Comment

EUR/USD

Now the situation in the markets looks more reassuring than at the end of the previous week. There is a growing feeling that the drop by over 5% since the day of Obama’s reelection was a too pessimistic reaction of the market players to the possible fiscal cliff. Sure, the issue is serious and risks are real (we do remember that last-moment deal in the style of the best American action films in August 2011). However, at the current levels the stocks look rather attractive for buying. The investor interest is growing with the approach of Thanksgiving Day, when the markets more…