Vector Securities - Analytics

    Vector Securities

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    The beginning of the week passed in boring consolidation

    The beginning of the week passed in boring consolidation
    The first day of the week was boring. Absolutely all currencies traded in narrow ranges against the lack of significant events. Australian and New Zealand dollars strengthened slightly after publication of Chinese data, which showed considerable growth of crediting in China. During the day the common currency also succeeded to move away from morning minimums on messages about granting bridge loan to Greece to settle with creditors, but it didn’t provoke serious changes. Today news background is as boring as yesterday. However, there is a probability that after a day of consolidation the market will become active. Herewith dollar retains an advantage.

     

    Trade tactics:

    Now our view of current situation in EURUSD pair remains the same – we expect breakthrough below 1.0800 in the direction of 1.0740 – 1.0760, where we will consider advisability of exit from short positions.

     

    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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