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Forex: EUR/USD eases to 1.2940

FXstreet.com (Barcelona) - The single currency is back to the area of 1.2940/45 on Friday after hitting intraday highs above 1.2960 on stops-triggering and hopes of a final agreement in Cyprus.
In the meantime, last news from Cyprus remarks that officials are mulling the idea of lower levy on bank-deposits (5%-7%), going back to the basics of the former plan albeit with modifications.

In the data space, recall that the German IFO indicator missed expectations in March, coming in lower than the previous print in all of its components as well.

At the moment, the cross is up 0.39% at 1.2945 and a surpass of 1.2966 (MA10d) would aim for 1.2979 (high Mar.20) and finally 1.3017 (MA21d).
On the other hand, support levels align at 1.2879 (MA200d) en route to 1.2844 (low Mar.19) and then 1.2827 (low Nov.22).

Silver plunges below 28.60, support broken

The white metal has been dealt a critical blow Friday as it relinquished its hold on the 29.00 level during European trading as investors mull the situation in Cyprus. With the country trying to secure a bailout, silver spot prices felt the brunt of this movement, trading near an intraday low of 28.57. In these moments, the price of silver has rebounded slightly off its lows to trade at 28.66 per oz. Proponents of silver will look for a recovery up to the 28.80 level, onto the eventual 29.00 barrier for prolonged stability.
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Cyprus deposit levy back on the table

The latest news on the Cyprus bailout negotiations suggest that the proposition to tax bank deposits is back on the table. According to Bloomberg the Eurogroup is considering creating a ‘bad’ bank and a ‘good’ bank to which the deposits from the country’s two largest lenders, Laiki and Bank of Cyprus, would be assigned.
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