OctaFX | OctaFX Forex Broker
Open trading account
Back

Forex Flash: Fade EUR/USD upticks pre ECB - OCBC Bank

FXstreet.com (Barcelona) - Emmanuel Ng of OCBC Bank notes that with the pending ECB meet today, he retains a preference to fade any upticks with the pair content to keep its head above the 200D MA at 1.2892.

He feels that a continued failure to test higher may see a reversal back towards 1.2750 and then 1.2700. Looking to GBP/USD he adds that the pair managed to end higher on the day on Wednesday but this may well have been on the back of a broad weak dollar tone with the UK construction PMI improving less than expected. He writes, “Generalized expectations for a potential for further QE may limit strong GBP gains in the short term with a 1.5000-1.5400 band expected to hold.”

France: Mar Markit Services PMI down to 41.3 vs 43.7 in Feb

Read more Previous

Germany Markit Services PMI down to 50.9 in Mar from 54.7 in Feb

Read more Next
Start livechat