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Forex: GBP/USD extends the intraday correction

FXstreet.com (Barcelona) - The sterling is accentuating its bearishness on Monday, falling from highs in the vicinity of 1.5250 to the boundaries of 1.5180 as risk aversion continues to swell.

“We believe that the longer term down move has further to run and view the current advance as a short term correction only. Longer term we look for losses to 1.4229, the 2010 low”, argued Axel Rudolph, Senior Technical Analyst at Commerzbank.

At the moment, the cross is losing 0.27% at 1.5191
Next support levels align at 1.5167 (low Mar.22) ahead of 1.5097 (MA10d) and finally 1.5090 (low Mar.21).
On the flip side, a breakout of 1.5280 (Upper Bollinger) would expose 1.5330 (high Feb.22) and then 1.5452 (high Feb.20).

Forex: EUR/USD dips to lows around 1.2940

The single currency is now posting fresh intraday lows in the proximities of 1.2940 as selling interest intensifies amongst traders....
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Forex: USD/CHF explodes to session highs in Cyprus panic move

The USD/CHF spent much of Monday morning suffering from optimism that was helping sustain the EUR during European trading. However, that move has quickly changed, after the Chairman of Cypriot Parliamentary Finance Papadoloulos that said they must assess benefits of a euro exit. This sent the pair shooting towards session highs at 0.9440/46, though the cross has since eased back to 0.9333/35.
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