OctaFX | OctaFX Forex Broker
Open trading account

EUR/USD: Consolidated at 1.1347 – Commerzbank

EUR/USD has not only eroded the 200-week ma at 1.1347, spent yesterday trading above this level. This is critical from a longer-term perspective, in the opinion of Karen Jones from Commerzbank.

“A weekly close above the 200-week ma would target the 1.1570 January 2019 high and the 1.1815 September 2018 high.”

“Our target is the 12-year downtrend at 1.1950. We would allow for some near term consolidation around this moving average ahead of further gains.”

“Above 1.1950 will introduce scope to the 200-month ma, 2018 high and the long term Fibonacci retracement at 1.2525/1.2644.”


Japan PM Abe confirms second stimulus package to fight coronavirus outbreak

Japanese PM Abe returned on the wires in the last hour, via Reuters, confirming the earlier report of the second stimulus package to battle the corona
Read more Previous

Japan: GDP figures deteriorated further – UOB

UOB Group’s Senior Economist Alvin Liew and Senior FX Strategist Peter Chia give their views on the recently published GDP figures in the Japanese eco
Read more Next
Start livechat