EURUSD is ready to pierce the resistance

By GG Analyst in Reviews 0 Comment

EUR/USD

The euro doesn’t even think to retreat. Yesterday’s correction in the pair from 1.3790 to 1.3740 by the beginning of the US session had ended with another uprise to the upper bound of the new channel. And in the Asian session today after a short respite the pair is again testing the resistance of the channel. Among yesterday’s statistics only the Consumer Confidence Index for the eurozone is of interest – it showed some improvement. However, it is hardly possible that growth of the index from -14.9 to -14.5 is the reason for the positive sentiment in regard to the single more…

The dollar’s decline slows down

By GG Analyst in Reviews 0 Comment

EUR/USD

Though Wall Street is close to record levels, Forex has been rather quiet over the last 24 hours. While S&P 500 yesterday closed at the highest level in history, EURUSD failed to break even through the highs of Thursday night. The only achievement of bulls yesterday was that they managed to stop the correction at 1.30, taking the pair to 1.31. Well,  it’s not bad, taking into account that just a couple of days ago the pair was at the three-month low of 1.2750. Anyway, the market hasn’t yet built the present-day tempered attitude to the stimulus rollback in the rates. more…

The Fed tries to adjust market expectations

By GG Analyst in Reviews 0 Comment

EUR/USD

FOMC’s officials claim now that the markets misinterpreted Bernanke’s words at the press-conference a week ago. Yesterday Lockhart (doesn’t vote this year) said that market participants misunderstood the intention of the Fed’s head and that he would be watching closely the negative consequences for the debt market. Besides, William Dudley noted that the market reaction goes counter to the Fed’s statements and expectations of the majority of FOMC’s members.  Powell spoke in much the same vein. The massive pressure from these four officials eventually has produced its effect. Government bond yields have slightly decreased in comparison with the trend observed for 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…

The downtrend in EUR is getting clearer

By GG Analyst in Reviews 0 Comment

EUR/USD

The domination of high technology in trading and many risks arising in this connection again came to the surface yesterday, when the false report in Twitter in two minutes washed over 130bln out of the market. Two messages from the hacked account of the Associated Press about an explosion in Washington caused heavy selling in the stock market, which deprived it by about a percent. Yet, soon the situation stabilized. Being important for stock exchanges, this news didn’t produce an equally strong effect on the Forex market. Yesterday the pair was mainly affected by the news on the business activity in more…