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Forex: EUR/USD keeps correcting lower

FXstreet.com (Barcelona) - After climbing to levels just shy of 1.3040, the shared currency started a correction lower to the current levels around 1.3015, accompanied by an increasing risk aversion.

“In respect of EUR/USD the key driver the next couple of weeks will be relative monetary policy. Hence, the timing of Fed’s QE exit and whether the ECB will cut rates or not will be pivotal for the cross”, suggested Senior Analyst at Danske Bank, S.Roed-Frederiksen.

The cross is now up 0.19% at 1.3015 facing the next hurdle at 1.3040 (high Apr.5) followed by 1.3050 (high Mar.25) and then 1.3107 (high Mar.15).
On the downside, a breach of 1.2918 (MA21d) would bring 1.2896 (MA200d) and finally 1.2868 (MA10d).

Forex Flash: Price/volume divergence looms against Gilts – RBS

Gilts continued beyond the 119.56 pivot point, being the 161.8% Fibonacci projection from the March 2013 impulse wave. According to Technical Strategist Dmytro Bondar at RBS, “The price action suggests the full wave projection of 120.52 would be tested soon.”
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Forex: AUD/USD rejects 1.0425, back below 1.0400

After rising around 55 pips from the 1.0370 in the early American morning, the AUD/USD traded above the 1.0400 area to test intra-day highs at 1.0425, but pair was unable to trade higher and the Aussie was rejected down. Currently the AUD/USD is trading below the 1.0400.
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