OctaFX | OctaFX Forex Broker
Open trading account

EUR/USD erases gains to trade flat

FXstreet.com (Córdoba) - The shared currency failed to sustain the IFO propelled gains versus the greenback and after hitting a daily high of 1.2993, it lost momentum and pulled back. Better-than-expected US durable goods orders data provided some support for the dollar, which dragged EUR/USD back to its opening levels.

At time of writing, EUR/USD is trading at the 1.2930 zone, where it is virtually unchanged on the day, as investors refrain from taking big positions ahead of the US long weekend.

As for technical levels, on the downside immediate supports for the pair could be found at 1.2900 (10-day SMA/psychological level) and 1.2820 (low May 23), while on the flip side, resistances are seen at 1.3000 (psychological level), 1.3030 (high May 14) and 1.3050 (high May 10).

Flash: EUR/GBP said 0.8591 was on the card - Commerzbank

EUR/GBP had advanced to the figure 0.8600 in London trade and Commerzbank are looking for a daily close above 0.8637 if their medium term forecast is to change.
Read more Previous

American equity markets cap off two-day weakness

The US stock market again opened lower Friday, concluding a late week weakness across global equities. In the United States, Durable Goods Orders (April) grew +3.3%, against projections of just +1.5%, and compared with -6.9% previously. In addition, Durable Goods Orders ex Transportation (April) were reported at +1.3%, against expectations of +0.5%.
Read more Next
Start livechat