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Forex: EUR/USD keeps pushing higher, around 1.3230

The shared currency continues to hold the upper ground of the range so far, retracing to the area of 1.3225 after hitting the boundaries of 1.3240

Against the backdrop of the Italian elections (results due after 14GMT), the research team at NAB commented, “… anything other than a clear win for Bersani’s Democratic Party in the lower house and a seemingly workable Bersani/Monti coalition in the Senate will almost inevitably see pressure resurface on euro peripheral debt markets and with that risk that EUR/USD heads further south to as far as 1.30”.

At the moment, the cross is gaining 0.11% at 1.3232 facing the next resistance at 1.3246 (high Feb.22) ahead of 1.3293 (MA55d) and then 1.3320 (MA10d).
On the downside, a breach of 1.3146 (low Feb.22) would open the door to 1.3123 (MA100d) and finally 1.3039 (low Jan.10).

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The USDJPY rose to a new multi-year high of 94.77 overnight after several Japanese newspapers reported that Haruhiko Kuroda has won the government's nomination for Bank of Japan Governor. The same reports claimed that Kikuo Iwata has been selected as one of the two deputy governors – a fact he himself confirmed later.
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Forex Flash: EUR/USD targets 1.2679/61 – Commerzbank

The EUR/USD closed the week below the 1.3202 7 month uptrend to add confirmation of the bearish signal: “We have an initial downside target to 1.2679/61, this is the 61.8% retracement of the move up from July 2012 and the November 2012 low”, wrote analyst Karen Jones, pointing to initial support at 1.3075/3, the 38.2% retracement of the same move. “Near term rebounds should find that the previous 3 month trendline should now act as resistance at 1.3317 and the outlook will stay negative below 1.3435”, she concluded.
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