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Forex Flash: 117.66 level puts wrap on Gilt selloff – RBS

FXstreet.com (Barcelona) - According to Technical Strategist Dmytro Bondar at RBS, “Gilts reached support at 117.66, which might pause further weakness in the near-term, but remain bearish post 118.64 breakout and forming a gap around the level. The latter region of 118.61/64 has become a major resistance for the market.”

Additionally, “The 20/5/5/3 slow stochastic reached oversold region, which adds to the argument of a pause in the selloff for now. However, the market remains bearish and after breaking the 117.66 support, We would expect a test of 117.05 and potentially 116.50. Bear in mind there is also a minor support at 117.43. The caveat is a sustained recovery above 118.61 (or a close above the 118.94 gap).” he adds.

Forex Flash: EUR in focus following ECOFIN – Investec

With EUR/USD back above 1.3000 and with successful and encouragingly low-yielding Italian bond auctions yesterday morning, Europe remains in focus today. The next troubled member state flogging its wares in the bond market today is Spain with up to €4.0bn of relatively short-dated issuance going under the hammer.
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Forex: GBP/CAD supported 1.5480

With only second tier data out today, USD/CAD is expected by the market to remain in a range 1.0080/1.0130 which would equate to a weaker cross
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