OctaFX | OctaFX Forex Broker
Open trading account
Back

EUR/USD: buy on dips - Westpac

FXStreet (Guatemala) - Analysts at Westpac Banking Corporation explained the conditions surrounding the EUR/USD a buy on dips strategy.

Key Quotes:

"Look to buy dips in EUR to 1.1230 with a stop at 1.1110. This is more a model and technicals driven signal than anything else, our macro view neutral EUR as the currency looks expensive here vis-a-vis the dire German data of late (factory orders, IP, exports and ZEW)."

"That aside, our model and technical signals are constructive: Price has stabilised above key medium term support towards 1.1100 while our G10 FX model portfolio remains long EUR for yet another week. German growth may be cooling but the model is more enamoured with the region's persistent outsized external surpluses."

USD/JPY: downside pressures mounting below 20 DMA

USD/JPY is currently trading at 119.75 with a high of 120.09 and a low of 119.54.
Read more Previous

EUR/USD: taking up short covering - FXStreet

Valeria Bednarik, chief analyst at FXStreet explained that EUR/USD advanced partially this Tuesday, but failed to rally beyond the 1.1400 level, weighed by worse-than-expected local macroeconomic data and a market that tossed and turned between hope and despair.
Read more Next
Start livechat