OctaFX | OctaFX Forex Broker
Open trading account
Back

Forex Flash: What to do with EUR/USD? – UBS and Commerzbank

The single currency is hovering over session highs on Thursday, regaining the key resistance of 1.3000 and printing fresh intraday highs above 1.3020, ahead of the ECB monetary policy meeting.

G.Yu and G.Berry keep the bearish stance on the cross, suggesting, “As the pair closed below the support at 1.2997, this is a major bearish development, paving the way for weakness to 1.2877. Resistance is at 1.3080”.

In addition, Karen Jones, Head of FICC Technical Analysis at Commerzbank, comments that the market would remain offered while trading below the downtrend set from February highs. “EUR/USD is quite frankly struggling to bounce, very near term we note the 13 count on the 240 minute chart and remain unable to dismiss a small rebound ahead of further losses – this strength should be sold into”, recommends the expert.

Forex: EUR/GBP rises on London morning

Big day for the EUR/GBP as investors will be dealing with a load of data, but more importantly, with monetary policy decisions from the ECB and the BoE. The cross has been getting stronger since yesterday, with the 0.8600 level proving to be of decent support and the market is currently rising on the London morning.
Read more Previous

Italy Producer Price Index (MoM) -0.4% in Jan; 0.7% (YoY)

Read more Next
Start livechat