Two sides of the same day

By GG Analyst in Reviews 0 Comment

EUR/USD

The single currency suffered heavy selling. Before that, earlier in the day, bulls had tried to attack and pushed the pair up to 1.3966. But then it was no easy matter to find a reason to purchase the euro. Draghi’s comments and concerns about growth in China delivered a double hit to EURUSD. The ECB governor said yesterday that the forward guidance (implying that the rates will remain at the current or lower level for a long time) would, most likely, put pressure on the single currency. Besides, he added that strength of the currency was getting more and more important more…

Rehabilitated risk-demand

By GG Analyst in Reviews 0 Comment

EUR/USD

Despite the tangible pressure, which had weighed upon the single currency in the first half of the day, the US session again was marked by purchases of the euro and in the US stock markets. By the end of the day stock indices had entered the positive territory and by now futures have already recouped two thirds of the correction, which have been in place since the end of the previous week. EURUSD got above 1.39 during the New-York session yesterday and has been steadily trading above this level since then. It was caused by comments of Germany’s Finance Minister Schäuble. more…

Mounting pressure of dollar-bulls

By GG Analyst in Reviews 0 Comment

EUR/USD

The pressure of USD is getting harder to resist, but the euro seems to cope well with it. Profit-taking in stock exchanges and easing of the situation with the overbought market contributed to decline of US indices , but at the same time aroused demand for dollars. The US currency grew against most of its counterparts yesterday. EURUSD lost about 20 pips, closing the day at 1.3857, while during the day it went as low as 1.3830. Albeit small, this pullback can lay the basis for further growth, as buyers of the single currency and stocks can again appear in the more…

USD holds the line pretty well, for now

By GG Analyst in Reviews 0 Comment

EUR/USD

The US dollar managed to preserve its positions on Monday. For EURUSD absence of motion can signal that bulls are moving up fresh reserves. The pair needs a break as technically it now looks overbought or quite so, depending on the technical indicator considered. In the meantime, the American currency, taking advantage of the opportunity, has been gathering momentum at other ‘fronts’. Stock traders decided to take their profits. The optimism, aroused by the employment statistics, didn’t last for long. To stir some considerable selling in the euro and stock exchanges we need a serious reason, but as we go forward more…

EUR flew up on Draghi’s inertness

By GG Analyst in Reviews 0 Comment

EUR/USD

Draghi’s press-conference sent the euro much above 1.38. The single currency is now trading at 1.3850. Excluding a short-term upsurge of the pair in December, the pair was that high only in November 2011. Technically, growth of the pair isn’t likely to face any serious resistance right up to 1.4250. The spring triggered and pushed the pair up by over a figure in a couple of hours. It should be mentioned that the upsurge began 45 minutes before the press-conference, which means that the markets presupposed a possibility of the rate cut or measures to increase liquidity in the region. It more…