OctaFX | OctaFX Forex Broker
Open trading account

Forex: EUR/USD muted around 1.2835/40

FXstreet.com (Barcelona) - The bloc currency remains in the red territory on Tuesday, orbiting around 1.2835/40 after failing to follow through the key level of 1.2880/5 overnight – where sits the 200-day moving average.

In the view of Christin Tuxen, Senior Analyst at Danske Bank, “Adding to the picture of EUR moving out of favour on a more structural note was the release last week of the quarterly COFER data from the IMF showing developing countries dumping the euro from their FX reserves. We think the euro could be in for another tough week ahead of Thursday’s ECB meeting as the possibility of rate cuts will remain a key discussion point”.

EUR/USD is now losing 0.11% at 1.2833 facing the next support at 1.2751 (low Mar.27) ahead of 1.2730 (low Nov.19) and finally 1.2680 (61.8% of 1.2042-1.3711).
On the flip side, a break above 1.2886 (MA200d) would expose 1.2890 (high Mar.26) and finally 1.2943 (MA21d).

Forex Flash: What to do with the USD/JPY? – Danske Bank, Commerzbank and BTMU

The BoJ will hold its 2-day meeting tomorrow and all the eyes will be upon the new Governor H.Kuroda and his long-waited announcements regarding measures to achieve the new 2% inflation target...
Read more Previous

Forex: GBP/USD falls to 1.5116/17

The GBP/USD has continued its fall lower Tuesday, having crashed below support (1.5178), en route to the 1.5116/17 level in these moments. At this juncture, the cross has descended a steadfast -0.73% off its opening, nearly touching its intraday lows (1.5109)
Read more Next
Start livechat