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Forex: EUR/USD consolidating above 1.3100

FXstreet.com (Barcelona) - The shared currency remains in the positive territory on Friday, trading above 1.3100 and waiting for the US Payrolls figures due later. Recall that market participants expect the US economy to have created 145K jobs during April, exceeding the previous print at 88K.

“Our short-term view still remains that the EUR will move lower, but we continue to put our faith in poor economic data, growth divergence (Germany vis-à-vis the rest of the world) and/or increasing financial stability risks (perhaps led by a back-up in key EMU bond yields) as the trigger for these declines”, commented Stephen Gallo at BMO.

The cross is now advancing 0.45% at 1.3124 and a surpass of 1.3220 (high May 2) would open the door to 1.3231 (daily cloud top) and then 1.3243 (high May 1).
On the flip side, support levels line up at 1.3051 (low May 3) ahead of 1.3037 (low May 2) and then 1.3015 (low Apr.29).

Euro… after the fallout

The shared currency was seen managing quite well Friday, leaving behind the recent pessimism, focusing first on regaining the 1.31 handle as a pre-requisite to re-visit May highs around 1.3240. The nearest...
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Forex: GBP/USD retraces yesterday’s losses ahead of US NFP

With the US nonfarm payrolls report ahead, the GBP/USD had some more strength left to push higher, back to 1.5570 in order to fully retrace yesterday’s gains. However, profit taking has made the pair pull back a little. Earlier, the market had moved higher on the release of better than expected UK Markit Services PMI, up from 52.4 to 52.9 in April, instead of staying unchanged as expected.
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