OctaFX | OctaFX Forex Broker
Open trading account
Back

EUR/USD indicates possibility of rebound - RBS

FXStreet (Bali) - Dmytro Bondar, Technical Analyst at RBS, notes that EUR/USD charts indicate the possibility of rebound.

Key Quotes

"The EUR/USD has been trading above a key long-term support level of 1.2384, being the 23.6% retracement from the 2012 impulse wave."

"It has also posted a low of 1.2358 and failed to break below on the second test, indicating a possibility of a double-bottom formation and a subsequent bounce back to 1.2600 onto 1.2750 and 1.2840 should the pattern materialise."

"Weekly MACD is still bearish, but its histogram indicated a positive divergence with the price action, confirming the possibility of a bounce with good risk/reward, as a break below 1.2358 would cancel the view for a bounce and target 1.2043."

BoJ's Shirai: Japan to grow above potential in fiscal 2015

BOJ board member Shirai, speaking to business leaders in Hiroshima, in a speech titled "Japan’s Economic Activity, Prices, and Monetary Policy”, said that Japan economy will grow at or below its potential in fiscal 2014, then grow above potential in fiscal 2015, fiscal 2016, Reuters reports.
Read more Previous

Asia Recap: Consolidation in G10 FX

It has been a sedated Asian session, with G10 FX consolidating in slim ranges amid the absence of any external stimulus, neither commentaries from policy-makers nor economic releases of interest allowed greater volatility.
Read more Next
Start livechat