OctaFX | OctaFX Forex Broker
Open trading account
Back

Forex Flash: S&P 500 looks bullish ahead - Nomura

Nomura Strategist Saeed Amen has taken a look at the S&P 500 from a purely technical perspective and believe it looks bullish ahead.

Amen begins by noting that spot is up on the week and as such he is flipping to a bullish view. Looking at a daily chart he notes that RSI is trending higher which indicates upside momentum. Further, he notes that spot has tested the upper Bollinger Band several times which short and medium term SMA´s are pointing upwards. He finishes by writing, “Also bandwidth is expanding, which suggests that we are in a breakout. Our target is 1575.”

Forex Flash: AUD/USD is bearish but may still retrace to 1.0384 - Commerzbank

Last week's rally failed at 1.0300 (38.2% retracement), but Commerzbank analysts remain unable to rule out a deeper retracement to tougher resistance at 1.0375/80 and at 1.0384 the 55 day ma, “where we should again see failure”. However, intraday support is at 1.0194 ahead of 1.0117, and “our longer term outlook is negative”, targeting 0.9805 (2011-2012 support line and then 0.9404 the 2009 peak).
Read more Previous

Forex Flash: Dollar maintains momentum after payrolls - BTMU

Derek Halpenny, European Head of Global Markets Research at the Bank of Tokyo Mitsubishi UFJ notes that the USD/JPY rate remains well supported above the 96.00 level after further strong gains on Friday after the better than expected employment report from the US.
Read more Next
Start livechat