OctaFX | OctaFX Forex Broker
Open trading account
Back

EUR/USD lacking directional strength - FXStreet

FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet explained that EUR/USD advanced up to 1.1386 in the European session, following a positive opening in local share markets, although the pair faded alongside with stocks, which closed the day pretty much flat, a few points below Monday's close.

Key Quotes:

"Technically speaking the pair continues hovering around last week's close, lacking directional strength, although the risk is turning towards the downside in the short term, as the 1 hour chart shows that the early rally was capped by the 100 SMA, while the technical indicators have retreated from near overbought levels and stand now around their mid-lines."

"In the 4 hours chart, a brief advance beyond the 20 SMA was quickly reversed, and the indicator maintains a bearish slope, whilst the Momentum indicator has retreated from its mid-line and the RSI hovers around 46, limiting chances of a stronger rally for this Wednesday."

GBP/USD: 1.5520 is key, failures provoke 1.5400 - Scotiabank

Eric Theoret, CFA, CMT FX Strategist at Scotiabank explained GBP/USD is a relative underperformer with a modest gain in the context of broad-based USD weakness, consolidating within a relatively tight range with no response to expectedly hawkish comments BoE MPC member McCafferty.
Read more Previous

CNY undervalued? - Westpac

Analysts at Westpac noted that the US Treasury's semi-annual FX report included a view that CNY is "below" medium term valuation rather than "significantly undervalued" as of the April report.
Read more Next
Start livechat