OctaFX | OctaFX Forex Broker
Open trading account
Back

Forex: EUR/USD testing intraday lows at 1.3099/05

FXstreet.com (Barcelona) - The EUR/USD has certainly shifted course during US trading Thursday, descending into negative territory after a quick 30-pip drop. At this juncture, the pair is operating at session lows, quickly establishing fresh figures of this nature at the time of writing. Presently the cross is trading at 1.3099/03, fortified by the 1.3100 barrier.

According to the ICN.com Technical Analyst Team, “The EUR/USD is trying to move to the downside and is stabilize above 1.3115, keeping the possibility of positivity. Meanwhile, the stochastic is showing a negative crossover which worries us and we want to see how the pair will react at 1.3115 levels.”

Briefing the technical schematics, the cross is now facing a -0.35% drop. The Mataf.net analyst team identifies short-term supports for the EUR/USD at 1.3091, then 1.3024, and finally 1.2972. Conversely, the pair is slated to face resistance at 1.3210, then 1.3262, and ultimately 1.3329.

In the United States, Initial Jobless Claims (May 3) came in at 323K, against expectations of 335K. Moreover, Continuing Jobless Claims (April 27) yielded a figure of 3.005M, vs. a projection of 3.020M.

Commodities Brief – Precious metals shed European gains, silver falls below 24.00 barrier

The yellow metal managed to halt its ascent Thursday, having fallen off the 1474 handle earlier during European trading. Since then, the US session has witnessed a modest dip in commodity prices, including gold. In these moments, the price of gold is now trading at USD $1465.00 per oz. on the day. Ultimately, a daily closing above 1478.00 is required for a bullish scenario and uptrend, while at least a four-hour closing below 1440.00 for the bearish scenario by comparison.
Read more Previous

Forex: GBP/USD extends decline below 1.5500

The Cable slumped toward the 1.5500 area as the greenback strengthened across the board at the beginning of the NY session. With no clear catalyst, GBP/USD lost over 60 pips in a matter of minutes and fell to a low of 1.5485 before finding support.
Read more Next
Start livechat