OctaFX | OctaFX Forex Broker
Open trading account

Forex: GBP/USD eases from highs, around 1.5150

On stronger UK Services PMI data, the GBP/USD rocketed to 1.5198 high, but the profit taking stage has retraced 50 pips of daily gains already. The market is currently quoting around 1.5150 as the London morning ends. Investors will be pricing in expectations ahead of US ISM non-manufacturing PMI.

The UK Services PMI revealed a final reading of 51.8 in February, higher than the expected 51.0 and the previous reading of 51.5.
“Yesterday's break above 1.5080 resistance  has neutralized the negative outlook and current intraday bias is positive above 1.5080 area”, wrote Deltastock.com analyst Stoyan Mihaylov, pointing only to a break through 1.5220 on the higher frames to signal that a bottom is already in place at 1.4984.

Forex: EUR/USD erases European morning gains

All the fuss about the better than expected Markit Services PMI that send the EUR/USD to as high as 1.3076 has cleared off. The pair erased those gains back to the opening level of 1.3026. Still, the market trades higher now than when it closed last week, at 1.3018.
Read more Previous

Forex: USD/CAD trading negatively at 1.0265/66

The USD/CAD has oscillated in a 26-pip range 1.0254 - 1.0280) Tuesday, as the pair has seesawed back and forth during European trading. In its most recent move, the cross is moving into a trough at 1.0265/66, down a tepid -0.09% at the time of writing.
Read more Next
Start livechat