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Forex: EUR/USD rejected from 1.3120

FXstreet.com (Barcelona) - The single currency is trading back around the key mark at 1.3100 on Wednesday, after comments by Luxemburg PM, J.C.Juncker, saying that the euro area would remain stuck into recession have undermined the ongoing upside.

“Recent spread tightening on the European bond market justifies EUR/USD at current levels and with trading accounts most likely still fairly short, potential remains for a further correction higher”, added S.Holbek, Senior Analyst at Danske Bank.

As of writing, the cross is up 0.13% at 1.3100 with the next hurdle at 1.3135 (high Mar.8) ahead of 1.3163 (high Feb.28) and then 1.3229 (50% of Feb-Apr slide).
On the downside, a dip beyond 1.3006 (low Apr.9) would then target 1.2963 (low Apr.8) en route to 1.2928 (MA10d).

Forex: GBP/JPY eases off highs to 152.30/34

The GBP/JPY has fallen off a session high of 152.63 earlier today during European, easing slightly and paring some of its gains to trade presently at 152.30/34 in these moments. Despite the recent pullback, the cross remains robustly active in positive territory, securing an advance of +0.40% above its opening still.
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European markets surge Wednesday

European stock indices rose strongly Wednesday, notching solid gains across the board despite rumblings of a mounting ratings action facing Slovenia, and perhaps even worse – talks of a bailout. Beginning with the indices and composites, the EURO STOXX 50 grew +1.10% as it settles in region of 2623.74, up +29.61 points in these moments. In addition, the FTSE 100 index is trading in positive territory, operating at 6348.79, advancing +30.88 points or +0.56% at the time of writing. Finally, the DAX broke slightly higher, oscillating in the zone of 7704.34, after a movement of +56.27 points and up +0.87%.
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