OctaFX | OctaFX Forex Broker
Open trading account

Quick facts from Monday, like 38 calendar days of gains in the S&P500 gone...

It has been a trading day like no other this year, as a wave of selling hysteria hit the Euro, but most importantly all Yen crosses, as investors grow anxious over the governability of Italy. Below is a quick summary of a few amazing things that Monday's trading session has left us:

- As Chris Ciovacco, founder at CiovaccoCapital, comments on his twitter account: "38 calendar days of gains in the S&P 500 gone: S&P closed at 1486 on Jan 18. Today's close 1487. When risk-reward is poor gains get "taken back" quickly..."

- Adam Button, editor at Forexlive points at 2 other great facts. Firstly, what he calls a chart for posterity in EUR/JPY, which fell nearly 200 pip fall in over 5 minutes. Secondly, the CBOE VIX, or volatility index, which as Adam explains, "has taken a 20% jump today, it’s the second large jump in a week and the chart now threatens to fill-in the year-end gap." The latest update on the VIX reads at +30%...

- All Yen crosses have broken below the 20-day EMA, printing sizeable bearish engulfing bards in most cases which has eroded over 20+ calendar days of gains in just a few hours. While there is still commentators out there suggesting that the Yen is starting to look expensive again, a buy dips on Yen crosses is a sensible idea, be watchful as the growing selling force may have some real substance behind, chart moves don't lie...

- 1/4 of the Italian population has not showed up to vote, which portrays the disbelief and lack of commitment toward politicians.

Forex: EUR/GBP knocks on 0.88 dumping to 0.86 right after

Big moves this Monday in markets, and EUR/GBP was not an exception, climbing first to a fresh 15-month high at 0.8815 in very early NY trade, to start dumping soon after when first results for Italian election started to come out, showing signs of uncertainty. Mostly all markets printed highs around 15:00 GMT, and then started to selling off, every kind of risky asset.
Read more Previous

Forex: USD/JPY slams through 92.20 key support

USD/JPY is currently testing the breaking point and key previous support at 92.20, bouncing from fresh Feb lows at 90.84, following the great sell-off the pair suffered when Italian election results started to be released in early NY session. USD/JPY printed a fresh 34-month high in early Asia-Pacific yesterday to start the week off on headlines of the new BoJ head to be elected soon, being most probably candidate Kudora, one of most dovish contenders.
Read more Next
Start livechat