Vector Securities - Analytics

    Vector Securities

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    The exchange market is waiting for significant news

    The exchange market is waiting for significant news

    Tuesday appeared to be one more boring day in the exchange market. Players need strong drivers to make a choice. Uncertainty with Greece remains an irritating factor for euro, what was expressed in regular testing of levels below 1.1300. But bears failed again. Regular rumours that the European Commission has a new compromise plan, which is currently being discussed, have pushed euro above 1.1300 again.

    Today economic calendar is practically empty. The market can only feed on political news. Today the meeting of Finance Ministers within the framework of the Eurogroup will be held, and the EU summit will be tomorrow. The hottest topic is Greece, though there is no quick solution, still, any information concerning this topic is able to provoke activity. So, the market is to continue unclear movement depending on fresh news.

    We’d also like to highlight scheduled meeting of “Normand four” on Ukraine, still, this question is on the periphery of the focus of the exchange market now, and it directly relates to Russian rouble.

     

    Trade tactics:

    Yesterday our euro’s long position was closed on stop without loss, after what we made one more attempt and opened purchase at lower level again – from 1.1280, stop is already set at the entry point. Technical indicators don’t give clear signals about market’s intentions. At this moment a relatively small range 1.1270 – 1.1360 is formed, exit from it is possible to any direction. It makes sense to consider opening of new positions in case of price exit from the range.

     

    Any opinions, advice, news, research, analyses, prices or any other information presented on this webpage is provided as general market commentary and does not constitute investment advice. "Vector Securities" shall not be liable for any loss, including loss of profit, which may arise directly or indirectly from the use of this information. 


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