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Forex: EUR/JPY may fill Monday gap in the days to come - Commerzbank

FXstreet.com (Barcelona) - The wide gap from Friday’s low at 124.22 to the 55 day moving average at 121.90 can be filled in the days to come as the EUR/JPY bounces after such risk-off weekly opening. “Only a daily New York close above the current March high at 126.03 will put the 127.71 February high back on the map, however”, wrote analyst Karen Jones, pointing to tough resistance at 127.95/129.60, the March 2010 high and the 78.6% retracement of the move down from 2009.

“Below Monday’s low at 121.45 lies the 120.73 mid-January high which we expect to be retested this week at some stage”, she continued, with a medium term bias to the upside while the next lower 118.74 February low holds on a daily New York closing basis.

Forex Flash: Cypriot Parliament to approve bailout fearing the ECB – TD Securities

After much discussion over the Cyprus bailout, negotiations concluded last night to reduce the impact of the levy on smaller savers and “the Cypriot parliament is due to vote on the bailout conditions today, although there is a risk that this is pushed back to tomorrow”.
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Forex: GBP/USD extends its decline below 1.5100

Pessimism has continued to overwhelm sterling sentiment this morning, ahead of the UK inflation figures and the BoE Letter of Inflation due later.
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