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Forex: EUR/USD upside stalled around 1.3120

FXstreet.com (Barcelona) - The euro is now retiring to the area of 1.3090/1.3100 after the previous bull attempt run out of steam in the boundaries of 1.3120, as the effects of the Chinese trade data are waning.

According to Derek Halpenny, Strategist at BTMU, the euro resilience is quite remarkable despite the recent action by the ECB, negative rates chat and stronger US Payrolls. “It does suggest that factors like reserve re-cycling may well be playing some role in supporting the euro. But the stability of the periphery debt markets in conjunction with record current account surpluses also mean reduced euro sales in the market. It’s not necessarily due to increased foreign investor demand for periphery debt – we guess the core is where foreign investors continue to go – but the stability in the euro-zone is reducing the appetite for speculative selling”, Halpenny wrote.

EUR/USD is now up 0.19% at 1.3102 with the next resistance at 1.3132 (high May 7) ahead of 1.3155 (MA100d) and finally 1.3160 (high May 3).
On the downside, a breach of 1.3068 (low May 7) would aim for 1.3053 (low May 6) and then 1.3033 (low May 3).

Forex Flash: Stocks up but EUR/USD and USD/JPY locked in range - Societe Generale

Kit Juckes, Global Head of Currency Strategy at Societe Generale notes that equities keep on ascending but EUR/USD and USD/JPY are still locked in their April ranges.
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Forex: USD/CAD retreats off highs to 1.0048/50

The USD/CAD has eased slightly off the 1.0060 level in a highly muted session for the pair, moving in a consolidation of 21 pips (1.0039 – 1.0060). Indeed, the cross has not been able to break in either direction, devoid of catalysts during European trading. That being said, a recent 10 pip easing has took place off session highs, leaving the pair at 1.0048/50 in these moments.
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