OctaFX | OctaFX Forex Broker
Open trading account
Back

Forex: EUR/GBP falls below support to trade at 0.8472/73

FXstreet.com (Barcelona) - The EUR/GBP fell below the 0.8500 support during American trading Thursday, in what has been a wild session for the pair. Having already bottomed out at 0.8435 (session low), the cross managed to recover its losses and nearly make a retest of the 0.8500 level – the attempt stalled at 0.8487, and now the pair trades at just 0.8472/73.

Following a drop below the 0.8500 support, the EUR/GBP is slated to face additional calculated measures at 0.8445, ahead of 0.8400, and finally 0.8380. Conversely, any upside attempt or subsequent movement higher will encounter means of resistance at 0.8555, then 0.8575, and finally 0.8600, notes the ICN.com technical analyst team.

“The EUR/GBP pair failed to hold above 0.8500, we mentioned earlier that trading for few hours above 0.8500 is needed to confirm the bullish scenario, actually, the pair printed a strong reversal candlestick pattern, suggesting we may see a downside reversal.” notes the ICN.com analyst team.

Forex: USD/CHF erases gains back to 0.9450 area

The USD/CHF jumped from 0.9460 to 0.9526 high on the ECB press conference, but the pair has already retraced it all back to 0.9450 and lower as Draghi was kind of vague and the market is also positioning itself ahead of tomorrow’s US NFP report. The USD/CHF has just printed its current daily low at 0.9438 and is now surrounding the opening price at 0.9453.
Read more Previous

Forex: USD/JPY pushes above 96.00

USD/JPY has continued its march higher after soothing words from ECB President Draghi, added to the bullish momentum that followed through from last nights BoJ meet.
Read more Next
Start livechat