OctaFX | OctaFX Forex Broker
Open trading account
Back

Forex Flash: EUR/USD may close below 1.3202 key support - Commerzbank

The EUR/USD recent rebound from the 1.3315/00 area of support (long term Fibo retracement and the 3 month uptrend) was extremely tepid and market breached below it yesterday. “Key support at 1.3202, the 7 month uptrend, is exposed and a close below here is required to negate the up move completely”, wrote analyst Karen Jones. “Please note given strength of the US Dollar elsewhere this is looking increasingly likely”, she added, negative biased while capped by the 1.3434/1.3520 resistance. “Only above here will suggest another run up to the 1.3711 recent high (not favored)”, the Commerzbank analyst concluded.

Forex Flash: Fed minutes reveal heightened debate over policy – UBS

According to Research Analyst Garth Berry at UBS, “The Fed Minutes yesterday revealed that like many other central banks globally, debate over policy is rising, in some cases to boiling point. Despite the launch of numerical targets, it appears that the 2013 FOMC is demanding more flexibility on policy execution.” The dollar found bids as the minutes showed 'a number of' FOMC members saw a need for early slowing of stimulus, regardless of economic performance. However, the Fed as a whole is not in any risk of moving beyond debates, as opposed to the BoE, whose minutes yesterday showed deep splits in policy direction and forward implementation.
Read more Previous

Forex: NZD/USD establishing fresh lows at 0.8330/33

The NZD/USD, like several other risk-based assets over the past 24-hours, has been under siege, following the fallout of the FOMC yesterday. Overnight trading revealed an overall negative slide as the pair has plunged below the 0.8400 level, establishing session lows in these moments at 0.8330/33.
Read more Next
Start livechat