EUR short-squeeze is wider, but weaker

By GG Analyst in Reviews 0 Comment

EUR/USD

The EUR short-squeeze continued yesterday, but this time on a much larger scale. The single currency was appreciating not only against the dollar, but also against the yen and the Aussie. Yesterday we mentioned that this run of events was quite possible. However, we repeat it again – it is too early to speak about a reversal in the pair. The current movement should be in no way regarded as the beginning of a reversal. The spikes two days ago and yesterday were quickly sold off. The attempt to rise from 1.2750 to 1.2775 was very short. Then followed the drop more…

The wrong time, the wrong way

By GG Analyst in Reviews 0 Comment

EUR/USD

In the second half of the last week the markets suffered a serious correction. Forex first stood aside, but on Friday also joined the general trend. The single currency dropped below 1.27 against the dollar at the end of the week, thus hitting a nine-week low. Then, at the beginning of September, the pair passed this level without a stop. Some believe that this time the pair’s return will be equally swift. Some consolidation is possible at 1.26. The 200-day MA, which had served as a strong support in September and October, broke under the pressure of the bears. Partly it more…

Stats are getting better, but the markets are still on the defensive

By GG Analyst in Reviews 0 Comment

EUR/USD

The US markets kept falling yesterday, but it already didn’t mean much for the euro. Going down to 1.2715, EURUSD hit its 2-month low. However, by the end of the day the pair had stabilized around 1.2745 and at the beginning of active trading in Asia jumped up to 1.2780. Now it keeps trading here (above Thursday’s highs). The eventfulness of the day (numerous statistics and the decisions of two CBs) didn’t develop into any high volatility in the markets. Draghi’s comments were moderately optimistic. He noted that the outflow of capitals from the suffering countries’ banks changed into the inflow more…

Payrolls: even more unpredictable this time

By GG Analyst in Reviews 0 Comment

EUR/USD

The analysts were cautious in their forecasts about ADP’s employment statistics. The company revised not only the calculation method, but also the previous data. As a result, the figures for September have been raised, now pointing to the employment growth of 114K in the private sector. Besides, the fresh October figures now indicate an increase by 158K. Traders couldn’t but take advantage of the improvement, which seems to be especially obvious against the background of the figures for August when growth made just 82K. Yet, the good news about the labour market doesn’t end here. The unemployment claims have decreased more more…

Thirst for risk

By GG Analyst in Reviews 0 Comment

EUR/USD

American exchanges will be open today. The markets look forward to this, since today is the last day of the month, so most funds will be reshuffling their portfolios. Very often it spills over into profit-taking, it means into the move opposite to that observed all through the month. In October the stock market has generally been on the decline. Following this logic, the US stock futures are growing now at the beginning of the day. Yesterday the single currency was appreciating, even despite rather poor news from Europe. EURUSD failed to test the level of 1.30, however the growth from more…