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Forex Flash: EUR/JPY buy on dips – Danske Bank

FXstreet.com (Barcelona) - The pair is consolidating below the key resistance at 132.00 on Monday, retracing ground after last week’s tops around 131.40/50 on a weaker yen.

According to the research team at Danske Bank, the pair would head higher after completing a 4-week triangle formation. The analysts added that a surpass of 130.43/131.12 would open the door to 132.04. “Clearance here boosts the tone further for 134.54 next, the 30 November 2009 lower high. The triangles’ projected target then lies at 136.55. Moving averages are rising in positive formation, while momentum and other studies also support/confirm the market’s positive structure”, concluded the experts.

Forex Flash: FX majors react to talk of US suspension of easing – Investec

The GBP/USD’s struggle to grind higher faltered once again at the end of last week as a resurgent dollar took the pair back down to 2-week lows in the 1.5300s. According to Lee McDarby, Investec Corporate Treasury, “The dollar is back in vogue at the moment with talk of the States exiting its quantitative easing program, better economic data Stateside and suggestions that the Chinese will increase their USD reserves.
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