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Flash: What can we expect of the EUR/USD? – UBS and Commerzbank

FXstreet.com (Barcelona) - The euro is trading in session highs around 1.2985/90 on Friday, buoyed by better-than-expected German IFO indicator. Adding to the buying sentiment, the greenback is trading on the back foot, extending its downside for the second consecutive session.

G.Yu y G.Berry, Strategists at UBS, remain bearish on the cross, suggesting, “As long as resistance at 1.3020 holds, there is scope for resumption of downside as bearish trend conditions persist. Support is at 1.2797 ahead of 1.2746”.

In light of the recent bounce off lows around 1.2820, Karen Jones, Head of FICC Technical Analysis at Commerzbank commented, “Since a bounce was seen we believe that further upside towards the 55- and 200-day moving averages at 1.2985/1.3020 is on the cards for the days to come, provided, of course, that 1.2821 underpins”.

Flash: Currency War caused USD to soar - HSBC

HSBC Strategists believe that due to the ensuing currency war, the USD rally has further to run.
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GBP/JPY bearish correction testing support zone 153.75

GBP/JPY faltered towards the broken support zone at 154.78 overnight, with losses paring the gains made in the NA session ad now resumes a bearish correction testing support zone 153.75.
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