OctaFX | OctaFX Forex Broker
Open trading account

Forex: Kiwi surrenders some gains, still notches impressive week (+1.95%)

FXstreet.com (Barcelona) - The NZD/USD closed the New York session down 41 pips at 0.8588. The pair still notched an impressive week, finishing up 1.95% and closing above key resistance (0.8480) on the weekly chart. Currently, the pair is edging lower in early Asia trade, down 22 pips at 0.8566.

“No evidence to think that looking for intraday demand levels is not the best strategy. A sequence of 'level on top of level' premium demand lies around 0.8533/0.8513. If enough profit margin, a long play will surely be an option for many players,” according to the Supply/Demand report on FXStreet.com

Short term moving averages on the daily chart remain bullish, with price above both the upward sloping 9 and 20 day moving averages. The weekly close above .08480 is constructive and this level should now act as firm support on pullbacks. First support comes in at 0.8546 (bullish hammer candle on 30min chart), followed by 0.8513 (9 DMA). Initial resistance sits at 0.8572 (low price on April 11th, now resistance), followed by 0.8629.

Forex: EUR/JPY winning streak ends, closes down 176 pips at 129.03

The EUR/JPY traded sharply lower on Friday, closing down 176 pips at 129.03. Previously, the pair had traded higher the last 6 days and still closed the week +1.69%. Market participants will be awaiting Bank of Japan Governor Kuroda’s speech (due out later in the session at 1:30 GMT). Economic data out of Europe will be light with Trade Balance being reported at 9:00 GMT.
Read more Previous

BoJ Kuroda speech: Working to reach 2% inflation in 2 years

BoJ Kuroda speech to the central bank's branch managers was made public at 00.30GMT. According to the new governor, there seems to be indications that the poor economic performance in Japan is about to find a bottom, with the latest indicators showing signs of recovery, and an initial rise in inflation expectations.
Read more Next
Start livechat