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Forex: EUR/USD finds support around 1.2810/15

FXstreet.com (Barcelona) - The single currency is giving away some pips at the moment, hovering over the area of 1.2810/15, as thin trade and lack of market-movers dominate the session so far.

Against the backdrop of the recent events in Cyprus, Analysts at Brown Brothers Harriman commented, “The market is casting about looking for the "next Cyprus". The consensus appears to be settling on Slovenia, where a new government is wrestling with a weak and leveraged (not nearly as much as Cyprus) banking system. Bond yields have risen sharply in recent days and the 5-year CDS has risen from around 240 to almost 355 over the past two weeks”.

The pair is now losing 0.02% at 1.2814 with the next support at 1.2804 (low Oct.2012) followed by 1.2751 (low Mar.27) and then 1.2730 (low Nov.19).
On the flip side, a breakout of 1.2884 (MA200d) ahead of 1.3050 (high Mar.25) and then 1.3163 (high Feb.28).

Forex Flash: ECB maintains straight line – Goldman Sachs

The ECB has established a very easy monetary policy stance: market overnight rates are close to zero and the liquidity situation is ample. However, “owing to impairments to monetary policy transmission stemming from the fragmentation of European financial markets, this easy policy stance is not being passed through to the real economy in the periphery, where stimulus is most needed.” notes the Economics Research Team at Goldman Sachs.
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Forex: GBP/USD stumbles to 1.5184/86

The GBP/USD has broken lower off the 1.5200 mark Friday, having fallen several pips to trade at 1.5184/86 in these moments. While trading negatively during American trading, the cross is now incurring a loss of -0.02%, having unsuccessfully summited the 1.5200 barrier.
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