OctaFX | OctaFX Forex Broker
Open trading account

Forex Flash: EUR/USD clueless but bias is to the downside – Commerzbank

FXstreet.com (Barcelona) - Steady trading last week, between the 55 and 200 day moving averages at 1.2954/1.3050, gave few clues to direction. “However given the markets recent failure at its 50% retracement at 1.3225 our negative bias remains”. Ahead of here lies the 2013 resistance line at 1.3123”, wrote analyst Karen Jones, focused on the 1.2954 200 day MA. “We should see failure shortly and a slide to 1.2839, the 78.6% retracement of the move up in April. This is the last defense for the 1.2740 recent low”, she added, pointing to key support at 1.2679/61 (61.8% Fibonacci retracement of the July-to-January rise and the November 2012 low).

Forex Flash: USD trading on weaker footing following US Q1 GDP report - BTMU

Lee Hardman, FX analyst at the Bank of Tokyo Mitsubishi UFJ notes that the US dollar has continued to weaken modestly overnight following the weaker than expected US GDP report on Friday, with USD/JPY hitting an intraday low of 97.35.
Read more Previous

Forex Flash: Failure of USD/JPY to break 100.00 has provided a bout of long liquidation - BBH

Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman notes that he has long argued that the dollar´s advance from the 76 region seen in mid-November was the market pricing in the stimulative monetary and fiscal policy associated the Abenomics.
Read more Next
Start livechat