OctaFX | OctaFX Forex Broker
Open trading account
Back

Forex Flash: EUR crosses look mixed ahead - UBS

FXstreet.com (Barcelona) - UBS Strategists Gareth Berry and Geoffrey Yu have taken a technical look at today EUR crosses and are mixed in outlook ahead.

Starting with EUR/CHF, they are bullish and note that there is scope for more upside as bullish trend persists. They see resistance is at 1.2312 ahead of 1.2349 and support at 1.2240 and 1.2214. They are bearish EUR/GBP, noting that the cross is testing important support at 0.8410. They feel that a closing break below would be a strong bearish development; triggering deeper sell-off to 0.8285. They see resistance is at 0.8489 ahead of 0.8546. Finally, they are neutral EUR/JPY and note that resistance is at 129.91 ahead of 131.12. They write, “Initial support is at 126.44, a move below would signal scope for further correction to the strong support at 124.94.”

Euro on autopilot between 1.30-1.31

The shared currency remains drawn to the upper echelons of the 1.30-1.31 range so far, while market participants have started to shift their focus on the ECB gathering due on Thursday. Furthermore, market...
Read more Previous

Forex: USD/JPY bounces after retesting yesterday’s low at 97.36

Ever since the 98.12 high printed after Japan’s economic indicators being released, the USD/JPY engaged in a downside momentum that could only find a stop in mid-European morning by reaching the yesterday’s low of 97.36. Then, the pair bounced to 97.60 and is currently quoting around 97.50.
Read more Next
Start livechat