OctaFX | OctaFX Forex Broker
Open trading account
Back

EUR/USD bears in full control - JPMorgan

FXStreet (Bali) - EUR/USD bears remain in full control,
shooting for 1.2769/55/46 and potentially even for 1.2502, notes Thomas Anthonj, FX Strategist at JP Morgan.

Key Quotes

The downtrend of the EUR opened additional downside before a bounce looks to be due. Having decisively broken the potential base for a temporary 4th wave recovery at 1.2908 (wave 1 x 1.618) in EUR/USD the market opened additional downside to the next potential base at 1.2769/55/46 (monthly trend/pivots)."

"A straight extension to the latter is favored unless a break above 1.2996 (pivot) indicates that the 3rd wave low is in place and wave 4 up to 1.3165 (minor 38.2 %) already on its way.

"The latter would provide a good risk-reward to bet on the missing 5th wave decline whereas breaks above 1.3165 and above 1.3274 (daily trend) would constitute a scale jump in favor of a broader 2nd or b-wave rebound to 1.3413 (int. 50 %) and to 1.3701/19 (pivot/int. 76.4 %) at a later stage."

Views on NZ economy unchanged post election result - BNZ

There is little cause to alter the views on the NZ economy and financial markets, notes Bank of New Zealand, following the clear victory by the national coalition on Saturday’s General Election.
Read more Previous

Macroprudential risk for the Aussie - RBS

The RBA has set out the case for macroprudential measures to take heat out of the Australian property market, aimed at keeping rates lower for longer and help to keep AUD lower, notes Greg Gibbs, FX Strategist at RBS.
Read more Next
Start livechat