OctaFX | OctaFX Forex Broker
Open trading account
Back

Forex: EUR/USD approaching Thursday's high of 1.3290

The EUR/USD continues extending higher as the European session unfolds and after regaining the 1.3200 handle. The pair is already above Friday's high of 1.3245 and is getting closer to Thursday's high of 1.3290. Investors will have to face the downward trend line drawn since Feb-1 high (1.3711).

On focus is the Italian election today, while tomorrow we'll have Fed's Bernanke giving his semi-annual testimony. On today's economic calendar is US Chicago Fed and Dallas Fed indexes, as well as German Buba Weidmann's speech, at 15:30 GMT.

Last Friday’s Doji may signal basing attempt, however, “break above range top at 1.3243 is seen as initial requirement, with regain of more significant 1.3300, previous base and near 50% of 1.3431/1.3144, required to confirm”, wrote Windsor Brokers analyst Slobodan Drvenica, pointing to bearish continuation through 1.3144, also 90 day MA, to open 1.3100 and 1.3061, 50% of 1.2660 /1.3710 upleg.

Forex Flash: Bunds eye recovery after correction – RBS

Bund prices have met the first target of 143.70, being the 50% retracement from the December-January extremes and the 13-week moving average. According to Technical Markets Strategist Dmytro Bondar at RBS, “We believe the market will continue recovery towards the 144.20 area onto 145.00 after a possible correction.”
Read more Previous

Forex Flash: Can UK financial repression suppress yields? – Deutsche Bank

The GBP has weakened further on the downgrade to now trade at 1.5122 and 1.1467 against the Dollar and Euro, respectively. Whilst certainly off the lows of 1.5073 and 1.1398 in the overnight session in Asia, the pound is nonetheless still weaker against the Dollar and Euro, respectively since Moody’s action.
Read more Next
Start livechat