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Forex: USD/CAD continues to correct higher

FXstreet.com (Barcelona) - After dipping to the boundaries of 1.0190, the cross has managed to get traction and start a recovery to the current levels of 1.0215/20, backed by a better momentum in the USD.

According to analysts at TD Securities, in the short-term, “Trend strength signals are mixed across a range of time frames, suggesting that while the short-term trend down from 1.0340 may extend modestly, momentum is not especially strong and the market may struggle to overcome retracement support around 1.0185”.

At the moment, the cross is now losing 0.18% at 1.0215 with the next support at 1.0181 (low Mar.15) followed by 1.0160 (low Feb.22) and then 1.0055 (low Feb.18).
On the upside, a breakout of 1.0259 (MA21d) would expose 1.0315 (high Mar.8) and finally 1.0329 (high Mar.7).

Forex: GBP/USD recovering the mark of 1.5183/85

The GBP/USD has moved in a very volatile pattern Monday, having oscillated sporadically during American trading. After two failed attempts at the downside, which bottomed out at 1.5155 and 1.5160 respectively, the cross is now recovering some of its losses to trade at 1.5183/85, still incurring a loss of -0.31%.
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Expectations are growing for a “new dimension of monetary easing policies” following the appointment of a new BoJ governor and two deputy governors. “While the new team’s inaugural press conference held last week did not offer any major surprises, we think it confirmed a strong commitment to enhanced easing.” writes Junko Nishioka, Chief Economist at RBS.
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