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Forex: EUR/USD in highs around 1.3020

FXstreet.com (Barcelona) - After dipping to fresh session lows, increasing buying interest is now lifting the cross to levels just shy of 1.3020 on Wednesday, printing session highs at the same time and leaving behind the horrible data from the German IFO.

“The bearish sentiment surrounding the single currency may gather pace over the near to medium-term as we anticipate the European Central Bank to push the benchmark interest rate to a fresh record-low in the coming months”, suggested David Song, Currency Analyst at DailyFX.

The cross is now advancing 0.10% at 1.3010 and a break above 1.3085 (high Apr.23) would open the door to 1.3130 (high Apr.19) and finally 1.3202 (high Apr.16).
On the downside, support levels line up at 1.2972 (MA21d) ahead of 1.2963 (low Apr.8) and then 1.2940 (MA200d).

Forex: EUR/GBP touches 0.8500, German and UK data out

Easing from 0.8538 high ahead of the London session, the EUR/GBP made a sharp drop on the publication of a disappointing IFO survey in Germany following yesterday’s weaker manufacturing and services PMIs there. The cross found support at the 0.8500 psychological level.
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