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OctaFX_Farid

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  1. Thank you very much for your kind feedback. We appreciate your time and valuable feedback in helping us to make more better work. OctaFX wishing you happy trading. Please stay tuned for the news and updates from OctaFX! Open account today and enter the world of requote-free trading and the fastest execution! Join OctaFX today!
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  3. GBP/USD struggling around 1.6700 FXStreet (Córdoba) - The GBP/USD recovered some of the lost ground yesterday helped by better market's sentiment amid easing tensions in Ukraine. The GBP/USD however was weighed by disappointing UK construction PMI and dropped all the way back to opening levels around 1.6665 before the slide was contained. At time of writing, the GBP/USD is trading the 1.6690 area, 0.2% above its opening price, with immediate resistance at 1.6716 daily high. GBP/USD technical perspective Valeria Bednarik, chief analyst at FXStreet noted that the technical picture still pretty neutral according to the 4 hours chart. "The pair has been trading in a 150 pips range ever since mid-February, capped below key 1.6745 static resistance level… only a clear sign the level has been taken will favor an upward rally towards this year high around 1.6820, while dips down to 1.6600, 38.2% retracement of its latest daily bullish run, should continue to attract buyers". OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 04, 2014 OctaFX.Com News Updates
  4. US: Redbook Index rose 2.7% YoY FXStreet (Edinburgh) - The Redbook index advanced at a an annual pace of 2.7% and contracted 1.3% on a monthly basis in the week ended on February 23 vs. previous prints at 2.9% and -1.3%, respectively. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 04, 2014 OctaFX.Com News Updates
  5. EUR/USD consolidates ahead of NY open FXStreet (Córdoba) - The EUR/USD managed to advance Tuesday as risk aversion eased following reports that Russian troops on exercises near Ukraine have been ordered back to base. The EUR/USD climbed more than half a cent and reached a high of 1.3773 during the European trade but lacked strength to break decisively above that level and was confined to a phase of consolidation ahead of the New York open. At time of writing, the EUR/USD is trading at the 1.3760 zone, still up 0.2% on the day, with no first-tier data scheduled for today. EUR/USD technical outlook "Yesterday's slide from 1.3823 high is still limited above 1.3725 support, and my outlook here is bullish, for a break through the crucial 1.3790 resistance, en route to 1.3893", said Stoyan Mihaylov, analyst at DeltaStock.com. "Crucial on the senior frames is 1.3640 low". OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 04, 2014 OctaFX.Com News Updates
  6. Flash: What’s the sentiment around the EUR/USD today? – Commerzbank and OCBC Bank FXStreet (Edinburgh) - The single currency is extending its bounce off 1.3720 on Tuesday amidst easing tensions around the Crimean peninsula, pushing the EUR/USD to another test of levels beyond 1.3770. According to Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair “eased back from the 2008-2014 downtrend at 1.3826 and while capped here the risk is we will see failure and a slide back to the 1.3675 6 week up channel. A break below here is required to alleviate immediate upside pressure”. Strategist Emmanuel Ng at OCBC Bank added, “Barring a further degeneration of risk appetite levels stemming from the Ukrainian tensions, slightly subsiding ECB rate cut expectations may lend the pair background support ahead of the ECB meeting later this week. Expect a 1.3650-1.3800 range to prevail in the interim”. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 04, 2014 OctaFX.Com News Updates
  7. Ukraine Crisis: Putin says sanctions against Russia would cause mutual damage FXStreet (London) - Putin says sanctions against Russia would cause mutual damage. • “Threats are counterproductive and harmful” • Putin says Crimean administration is fully legitimate • Crimea has “right to self determination” • “Russia not considering adding Crimea to Russia” • Russia still preparing for G8: "If they don't want to come, they don't have to" OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 04, 2014 OctaFX.Com News Updates
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  9. EUR/GBP tipped for the upside on firm ECB FXStreet (Guatemala) - EUR/GBP has been tipped to keep rates on hold this week and the pair is starting to create a sideways channel post Fridays rally, giving back some of the gains when the pair reached a high of 0.8270. EUR/GBP is trading between a band of 0.8251 and 0.8223 while that range is starting to narrow between 0.8230/40. There were slight improvements for both the UK and EZ Markit Manufacturing PMI’s. In respect of the Central Banks this week, RBS analysts explained that this week's March BoE MPC meeting may be dull . However, while financial markets will undoubtedly be preoccupied with the Ukraine, they said Thursday's ECB meeting and Friday's payroll report provide the main macro economic event risks for developed currencies this week. “Last week's stronger than expected Euro area CPI tips the balance in favour of an unchanged decision on interest rates from the ECB. We do not totally rule out the possibility of a liquidity injection (for example, the non-sterilization of the Securities Market Program (SMP) purchases) and this is where most of the event risk for the EUR lies…Given the increasing probability that the ECB keeps policy on hold on Thursday, we expect EUR/GBP to trade a little more strongly this week”. EUR/GBP Levels The 20 DMA is O.8251, the 50 DMA is 0.8273 and the 200 DMA is 0.8436. RSI (14) reads 48.57. Supports are ascending from 0.8157, 0.8191, 0.8209, 0.8220. Spot is 0.8236. Resistances are 0.8268, 0.8290, 0.8301 and 0.8337 OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 03, 2014 OctaFX.Com News Updates
  10. Canada: Industrial Product Price (Jan) up 1.4% FXStreet (Edinburgh) - Canadian Industrial Product prices advanced 1.4% inter-month during January, surpassing forecasts at 0.8% and up from December’s 0.6%. The Raw Material Price Index rose 2.6% in the same period, vs. 0.4% expected and 1.8% previous. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 03, 2014 OctaFX.Com News Updates
  11. US: PCE rose 1.2% YoY in January FXStreet (Edinburgh) - The US Commerce Department informed that the US inflation, measured by the Personal Consumption Expenditures, rose 1.2% YoY during January, surpassing December’s 1.1%. On a monthly basis, prices rose 0.1%. The Core reading, which strips the food and energy costs, rose 1.1% over the last twelve months and 0.1% MoM, matching estimates. Personal Income expanded 0.3% on a monthly basis while Personal Spending rose 0.4%. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 03, 2014 OctaFX.Com News Updates
  12. US Personal Consumption Expenditures - Price Index (MoM) meets forecasts (0.1%) in January; 1.2% (YoY) Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 03, 2014 OctaFX.Com News Updates
  13. Flas: JPY supported on geopolitical tensions - BTMU FXStreet (Barcelona) - Lee Hardman, FX Analyst at the Bank of Tokyo Mitsubishi UFJ, suggested the JPY has been benefited from the Russia-Ukraine developments. Key Quotes "The yen has continued to strengthen modestly in the Asian trading session reflecting heightened investor uncertainty relating to the latest developments in the Ukraine. G7 leaders and the presidents of the European Council and European Commission have released a statement over the weekend condemning the Russian Federation’s clear violation of the Ukraine’s sovereignty." "For the time being they have decided to suspend participation in activities associated with upcoming G8 meeting which is scheduled to take place in Sochi in June. They have also supported the Ukraine’s work with the IMF to negotiate a new loan programme and implement required reforms as well as supporting the Ukraine’s right to choose its own future." "It follows a request on the 1st March from Russian President Putin to the Federation Council which was granted to send troops to the Ukraine. The Ukraine has subsequently called for a mobilization of troops." "The developments are already encouraging accelerated capital outflows from the two countries, and will have a negative spill over impact upon the surrounding region. The further weakening of the rouble, with the USD/RUB rate rising to a new record intra-day high today just below the 37.0-level, has prompted the Central Bank of Russia to raise its key policy rate by 1.5 percentage points to 7.00%." "The rouble has already fallen sharply by around 10% against the US dollar in early 2014 increasing upside risks to the CBR’s 5.0% inflation target. The combination of accelerated capital outflows and tighter monetary policy will weigh further upon economic growth in Russia which had already slowed sharply to just 1.3% in 2013." OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 03, 2014 OctaFX.Com News Updates
  14. Flas: JPY supported on geopolitical tensions - BTMU FXStreet (Barcelona) - Lee Hardman, FX Analyst at the Bank of Tokyo Mitsubishi UFJ, suggested the JPY has been benefited from the Russia-Ukraine developments. Key Quotes "The yen has continued to strengthen modestly in the Asian trading session reflecting heightened investor uncertainty relating to the latest developments in the Ukraine. G7 leaders and the presidents of the European Council and European Commission have released a statement over the weekend condemning the Russian Federation’s clear violation of the Ukraine’s sovereignty." "For the time being they have decided to suspend participation in activities associated with upcoming G8 meeting which is scheduled to take place in Sochi in June. They have also supported the Ukraine’s work with the IMF to negotiate a new loan programme and implement required reforms as well as supporting the Ukraine’s right to choose its own future." "It follows a request on the 1st March from Russian President Putin to the Federation Council which was granted to send troops to the Ukraine. The Ukraine has subsequently called for a mobilization of troops." "The developments are already encouraging accelerated capital outflows from the two countries, and will have a negative spill over impact upon the surrounding region. The further weakening of the rouble, with the USD/RUB rate rising to a new record intra-day high today just below the 37.0-level, has prompted the Central Bank of Russia to raise its key policy rate by 1.5 percentage points to 7.00%." "The rouble has already fallen sharply by around 10% against the US dollar in early 2014 increasing upside risks to the CBR’s 5.0% inflation target. The combination of accelerated capital outflows and tighter monetary policy will weigh further upon economic growth in Russia which had already slowed sharply to just 1.3% in 2013." OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 03, 2014 OctaFX.Com News Updates
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  17. Session Recap: Anything but Ukraine; Dollar on the weak FXStreet (San Francisco) - The US dollar was the biggest loser in the session as investors were reluctant to take positions on the Greenback ahead of a crucial week ahead. However news coming from Ukraine said that 2,000 Russian soldiers landed in Crimea. Market was dumbfounded. Late risk aversion didn't benefit the USD today as earlier in the day the US GDP posted a downward revision to 2.4% in the Q4. Expectations were about 2.5%. Stocks rallied to record highs in the S&P however major indexes faded gains with the Ukraine's news and Wall Street closed mixed the day but with solid gains in the week and the month. The EUR/USD advanced for fourth week in a row to close above 1.3800. In the month, the pair performed a spectacular come-back from 1.3475 priced earlier in the month to reach Friday's high at 1.3825, 2014 high. So what’s next for the EUR/USD? "Mostly it will depend on the main barometers of each economy, the ECB policy meeting and the US employment figures, next Thursday and Friday respectively," comments FXStreet chief analyst Valeria Bednarik. "The most likely scenario there, is an on hold stance and a mild hawkish speech; in the US, employment tumbled the last months, so my take is that will be the key for March trends, as another bad number will probably put the greenback under pressure, and boost the EUR/USD towards December high around 1.3900," Bednarik adds. According to the Forecast Currencies Poll, the EUR/USD bullish momentum is expected to extend next week: Our #FXpoll shows the pair may extend beyond 1.3900, albeit bears will take over in a 1 month view. However, the Dollar may lose ground in the short term, but market still believes in taper as we may assume from the Forecast Poll results. Main headlines in the American session: Canadian GDP falls 0.5% in December. rises 2.9% in Q4 US: Q4 GDP growth revised down to 2.4% versus 3.2% US: Chicago PMI slightly up to 59.8 in February US: Reuters/Michigan Consumer Sentiment Index rises to 81.6 in February US: Annual Pending Home Sales fall 9.0% in January White House: Russian intervention in Ukraine would be a grave mistake... Ukraine acting president accuses Russia of aggression Things are heating up in Crimea US stocks closed mixed the day, but post solid gains in February OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 01, 2014 OctaFX.Com News Updates
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  19. USD/JPY severing the 102 handle FXStreet (Guatemala) - USD/JPY has severed the upside 102.00 handle despite key technical being eroded on the way down through the three month support at 101.72. USD/JPY reacted well to the Personal Consumption Expenditures Prices and Core Personal Consumption Expenditures Prices for Q4 Q/Q that beat expectations 1.0% vs 0.7% and 1.3% vs 1.1% respectively. However, the US Q4 GDP disappointed slightly as it only rose 2.4% vs a better expected 2.4%. Up next on a busy day of data we have Chicargo PMI which is expected to ease to 56.4 in Febuary from 59.6 in January (14.45 GMT). Then we have Michigan consumer sentiment at 14.55GMT, expected 81.2 and to round things off we have Pending home sales at 15.00GMT expected to rise 1.8% vs the January disappointment when we had a decline of 8.7%. Technically, Karen Jones, chief analyst at Commerzbank said, “The market had been previously capped on the topside by its 55 day ma at 103.28. This guards 104.45 en route to the more important 105.45/50 recent high and long term Fibo”. She also notes a multitude of supports between 101 and 100, “We look for this ‘zone’ to under pin. This area is also reinforced by the 55 week ma at 99.41”. USD/JPY Levels The 20 DMA is 102.12, the 50 DMA is 103.31 and the 200 DMA is 100.18. RSI (14) reads 44.32. supports are ascending from 101.07, 101.25, 101.38, 101.60 and 101.99. Spot is 102.01. Resistances are 102.22 102.47 and 102.68. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Feb 28, 2014 OctaFX.Com News Updates
  20. GBP/USD bounces at 1.6680 following US GDP FXStreet (San Francisco) - The Sterling is currently recovering ground against the US dollar following the weaker than expected US Q4 GDP second estimate of 2.4%. The GBP/USD bounced at 1.6680 to price at 1.3725. The second estimate of the Q4 US GDP shows a growth of 2.4%, below expectations of 2.5% and revised down from prior reading of 3.2%. The GBP/USD is currently trading at 1.6710, 0.16% positive in the day. The short term perspective is now slightly bullish according to the FXStreet trend index in the 15-minute chart. CCI is bearish; however, the Momentum is bullish while the stochastic and the MACD are neutral. GBP/USD levels The GBP/USD would face resistance at 1.6770, 1.6800 and 1.6820. On the downside, supports are at 1.6680, 1.6660 and 1.6620. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Feb 28, 2014 OctaFX.Com News Updates
  21. USD/CAD breached 1.1100 on data FXStreet (Edinburgh) - The CAD is strongly appreciating against the USD on Friday, pushing the USD/CAD to test the support at 1.1100 in the wake of US, Canada data. USD/CAD in 2-day lows The pair is now breaching the 1.1100 key support after the US GDP expanded below estimates at an annual pace of 2.4% vs. 2.5% forecasted. Adding to the downside, the Canadian economic activity grew 2.9%, bettering forecasts for a 2.5% gain and up from 2.7% previous. According to James Knightley, Analyst at ING Bank NV, “it looks as though 1Q14 GDP growth is going to be soft too given the damaging impact from bad weather. However, the Federal Reserve appears prepared for this and expects it to be merely a temporary effect. As such we look for the Fed to continue with the tapering of their QE programme at the March FOMC meeting, although weather impacted soft ISM and payrolls figures next week may lead to some market caution on this”. USD/CAD key levels At the moment the pair is losing 0.42% at 1.1089 with the next support at 1.1074 (low Feb.26) followed by 1.1071 (10-D MA) and finally 1.1055 (low Feb.25). On the upside, a surpass of 1.1145 (high Feb.26) would aim for 1.1160 (high Feb.27) and then 1.1225 (2014 high Jan.31). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Feb 28, 2014 OctaFX.Com News Updates
  22. EUR/USD back below 1.3800 FXStreet (Edinburgh) - The shared currency is now retreating to sub-1.3800 levels vs. the USD on Friday, dragging the EUR/USD back to 1.3790/85. EUR/USD buoyant at 2014 highs After posting fresh ytd highs near 1.3815, spot is slipping back to the high 1.37s although the EUR remains well bid at current levels. In light of the recent advanced EMU’s inflation figures for February, Analyst Martin van Vliet at ING Bank NV, commented “the stable headline inflation reading coupled with the ongoing signs of economic recovery provide an argument for the ECB to keep their powder dry next week. To be sure, if the ECB decides to ease policy anyway, it will probably merely consist of a small refi-rate cut; the deposit rate would likely stay at zero”. EUR/USD levels to consider At the moment the pair is up 0.58% at 1.3789 with the next resistance at 1.3813 (2014 high Feb.28) followed by 1.3819 (high Dec.30) and then 1.3894 (2013 high Dec.27). On the downside, a breach of 1.3694 (low Feb.28) would target 1.3660 (21-d MA) en route to 1.3647 (daily cloud base). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Feb 28, 2014 OctaFX.Com News Updates
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  25. Flash: Sterling 10 yrs down; GBP/USD still bullish - Scotiabank FXStreet (Guatemala) - Camilla Sutton, CFA, CMT, Chief FX Strategist at Scotiabank said "GBP is weak, down 0.2% and UK 10‐year gilt yields are down to 2.66%, flirting with the first break of the 200‐day MA for the first time since May 2013. Rising risk aversion is weighing on all European currencies." Key Quotes "GBP/USD short‐term technicals: bullish but signals are fading and threatening a shift into sell territory. There is better risk reward elsewhere for near‐term traders." OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Feb 27, 2014 OctaFX.Com News Updates
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