USD suffered because of PMI

By GG Analyst in Reviews 0 Comment

EUR/USD

The US dollar suffered because of the poor statistics. First of all, Manufacturing PMI for May was significantly revised up. In Italy the index made 47.3 against 45.5 a month ago. In France it was raised from the same 45.5 to 46.4. In Germany – from 49.0 to 49.4. Manufacturing PMI for the euro zone totaled 48.3 against the first estimate of 47.8. Though the index is still below 50, reflecting a decline, it is possible to notice the general upward trend, lasting for about a year already. By contrast with it the market was surprised by a sharp plunge of more…

Stock and Forex markets are in disharmony

By GG Analyst in Reviews 0 Comment

EUR/USD

The last day of the month wasn’t very lucky for the stock exchanges. Players decided to gather their profits and were eagerly selling stocks. However, it wasn’t an obstacle for S&P 500, which demonstrated the highest monthly close in history and all in all seven months of growth. It is remarkable that in the meantime there was a real fight between bears and bulls in Forex. As could be expected, the latter didn’t hurry to abandon 1.30 and spared no effort to help the pair consolidate lower. Over Friday the pair first fell from 1.3050 to 1.2950, but at the end more…

Bulls seek to close the month above 1.30 in EUR

By GG Analyst in Reviews 0 Comment

EUR/USD

Instead of the expected growth the US dollar demonstrated a decline yesterday. It’s remarkable that EURUSD managed to get above 1.30. If the pair consolidates at this high, by the beginning of the week and the month we will get the rate above the important psychological level and above the 200-day MA. This disposition can arouse a considerable purchase interest. We still have doubts about the further growth, having in mind the US and EU fundamental indicators, but are less sure that this scenario will develop in the near future. As this week has showed, the US dollar does not necessarily more…

Rebellion of EU currencies

By GG Analyst in Reviews 0 Comment

EUR/USD

The sudden and ungrounded surge of European currencies (EUR, GBP, CHF) against the dollar should be treated as nothing more than ousting of bears from the market. It can be also called the last-ditch fight of the bulls, who summoned all strength to reverse the situation. But as practice shows, very often yesterday’s bulls turn out to be tomorrow’s bears, so these are the same big players, gaining liquidity for further attacks. Why are we so sure? The thing is that there was no reason for purchasing the euro. The only important event in Europe yesterday was the release of German more…

EUR again failed to break through 1.30

By GG Analyst in Reviews 0 Comment

EUR/USD

On Friday the single currency came up against the resistance at 1.30. The pair once again failed to pass this key level, so we are still staking on the bearish scenario of events. While the United States is about to start a cycle of the policy toughening (now it concerns only the stimulus pullback), Europe is still in limbo – the situation is mainly influenced by exterior factors here (affairs of the USA and China). Europe is unable to get out of recession on its own. It’s sad that this situation is already treated as normal. Germany’s final GDP for the more…