OctaFX | OctaFX Forex Broker
Open trading account

Forex Flash: EUR offer mixed outlook – UBS

FXstreet.com (Barcelona) - UBS Strategists, Gareth Berry and Geoffrey Yu take a technical perspective at today's EUR crosses and note that there is a generally neutral-trending bias ahead.

In particular, the EUR/USD maintains a neutral outlook, as there is a support at 1.2974, ahead of 1.2920, meanwhile resistance lies at 1.3228. In terms of the EUR/CHF, resistance is at 1.2173, then 1.2213 – while there is a significant support at 1.2120 as only a break below this would be a major bearish development, suggesting a neutral intraday view.

Moving to the EUR/GBP, there is a bullish bias, as he cross came under pressure from resistance at 0.8648. A closing break above would open 0.8747, while downside should be limited and support is at 0.8490. The EUR/JPY is also bullish in the near-term. Indeed, the focus is on resistance at 129.74, though a break above this would expose 132.05. Conversely, support is at 126.44, ahead of 124.94.

Portugal Current Account Balance declines to €-0.276B vs €-0.014B in Jan.

Read more Previous

European markets up ahead of G20 and Italy Presidential election

The German DAX 30 trades at 7548.25 (+0.37%), while the French CAC 40 quotes at 3563.75 (+0.90%) and the British FTSE 100 at 6222.25 (+0.54%) as the European morning ends and the G20 central bankers and finance ministers gather for a meeting on central bank stimulus, especially from the BoJ, and fiscal targets. The Italian FTSE MIB is up by +1.00%, at 15225, as the Italian government starts today the election of a new President. “It’s still unclear whether there has been enough agreement between the main parties to get sufficient votes for a single candidate to elect”, added the TD Securities analyst Annette Beacher.
Read more Next
Start livechat