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USD/JPY extends the decline FXstreet.com (Córdoba) - The USD/JPY came under renewed pressure during the New York session as risk sentiment deteriorated and accelerated lower after breaking below the 102.50 area. As investors gear up for the Fed decision, the USD/JPY triggered stops and fell deeper into the red, hitting a 2-day low of 102.13 in recent dealings. At time of writing, the USD/JPY is trading at the 102.20 zone, recording a 0.7% loss on the day, and not far from its multi-week low scored Monday at 101.76. USD/JPY technical outlook "Yesterday's high at 103.42 was actually a test of 103.50 resistance and my outlook here is already bearish, for a slide through 101.72 low, en route to 100.60", said Stoyan Mihaylov, analyst at DeltaStock.com. "Crucial resistance on the upside is 103.85". OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 29, 2014 OctaFX.Com News Updates

EUR/USD pone a prueba 1.3600 FXstreet.com (Edinburgh) - El EUR/USD permanece bajo intensa presión vendedora hoy miércoles, cayendo hasta testear el soporte crítico de 1.3600. EUR/USD en mínimos de 4-días El par ya ha dejado atrás las ganancias iniciales de la semana, aunque parece haber encontrado decente contención en la zona de 1.3605/00 por ahora, mientras la comunidad FX se alista para la decisión de la Fed prevista para la tarde-noche en Europa. Pobres datos en el bloque de lo préstamos privados y de la oferta monetaria M3 estarían también colaborando en el sentimiento. En vista de esto último, analistas en BBH han comentado que “esto podría aumentar las especulaciones, acerca de la reunión del BCE de la semana venidera. Sin embargo, los números de los préstamos no estarían deprimidos por el precio del dinero, por lo que un nuevo recorte sugerido por algunos analistas, sería poco probable. Tal vez uno de los eventos más importantes de Davos haya sido la sugerencia de Draghi que el banco central podría comprar bonos sostenidos por préstamos a consumidores y empresas”. EUR/USD niveles relevantes A la hora de redactar el par retrocede 0.38% en 1.3617 y de penetrar 1.3594 (100-d MA) habilitaría 1.3564 (base diaria de la nube). Por la senda alcista, la primera resistencia se localiza en 1.3689 (máx. ene.28) seguida por 1.3716 (máx. ene.27) y por último 1.3740 (máx. ene.24). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 29, 2014 OctaFX.Com News Updates

EUR/USD challenges lows at 1.3650 FXstreet.com (Edinburgh) - The selling pressure is now sharpening in the shared currency, dragging the EUR/USD to test session lows around 1.3635/30. EUR/USD softer pre-FOMC The pair is now threatening to breach weekly lows posted on Tuesday just below 1.3630, as the greenback continues to gather traction ahead of the FOMC gathering. “We rather think the Fed will stay focused on the domestic economy—stronger and no longer in need of emergency support—and stay the course on reducing asset purchases established at the December meeting”, observed Shaun Osborne, Chief FX Strategist at TD Securities. EUR/USD levels to consider As of writing the pair is losing 0.23% at 1.3637 and a break below 1.3620 (10-d MA) would open the door to 1.3594 (100-d MA) and then 1.3564 (daily cloud base). On the upside, the initial barrier lies at 1.3689 (high Jan.28) followed by 1.3716 (high Jan.27) ahead of 1.3740 (high Jan.24). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 29, 2014 OctaFX.Com News Updates

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GBP/USD extends the correction, tests 1.6580 FXstreet.com (Edinburgh) - The selling interest is now dragging the GBP/USD to the area of 1.6585/80 after an unsuccessful attempt to follow through 1.6620. GBP/USD softer after GDP numbers The UK economy expanded at an annual pace of 2.8% and 0.7% inter-quarter. However the expansion was broadly in line with previous estimates, it seems that market participants were wishing for another upside surprise as evidenced by the knee-jerk to sub-1.6540 levels in the wake of the data. In the opinion of Ross Walker, Analyst at RBS, “Overall, the latest GDP data show economic growth being sustained over a full year and therefore provide the most compelling indication that the recovery is becoming more secure and a more 'normal' cycle is underway… The RBS forecast is for GDP growth of 2.7% in 2014. The Consensus Economics survey pitches the consensus forecast for 2014 UK GDP at 2.6% – among the major economies, only the US is expected to grow faster (2.8%)”. GBP/USD levels to watch At the moment the pair is down 0.01% at 1.6580 a break below 1.6471 (low Jan.27) would expose 1.6452 (low Jan.22). On the upside, the initial hurdle aligns at 1.6627 (high Jan.28) ahead of 1.6668 (2014 high Jan.24) and then 1.6700 (psychological level). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 28, 2014 OctaFX.Com News Updates

US: Richmond Fed Manufacturing Index slides a notch in January FXstreet.com (Barcelona) - The Richmond Fed Manufacturing Index dropped to 12 in January from 13 in December, the Federal Reserve Bank of Richmond informed on Tuesday. Analysts expected the indicator to remain at 13. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 28, 2014 OctaFX.Com News Updates

US: Richmond Fed Manufacturing Index slides a notch in January FXstreet.com (Barcelona) - The Richmond Fed Manufacturing Index dropped to 12 in January from 13 in December, the Federal Reserve Bank of Richmond informed on Tuesday. Analysts expected the indicator to remain at 13. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 28, 2014 OctaFX.Com News Updates

US: Consumer Confidence improves to 80.7 in January FXstreet.com (Barcelona) - US Consumer Confidence rose to 80.7 in January, from 77.5 in December, according to data released by the Conference Board. Analysts expected less growth to 78.1. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 28, 2014 OctaFX.Com News Updates

US Consumer Confidence up to 80.7 in January from 77.5 in December Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 28, 2014 OctaFX.Com News Updates

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EUR/USD off lows after mixed US data FXstreet.com (Córdoba) - The EUR/USD saw a short-lived bounce at the beginning of the New York session after the latest string of US data came in mixed. While the US Markit services PMI came in stronger-than-expected in January, December's new home sales disappointed and the Dallas Fed manufacturing index came in in line with forecast. The EUR/USD barely reacted to the data, moving off lows to an hourly high of 1.3675 where the 55-hour SMA halted the recovery. EUR/USD flat on the day At time of writing, the EUR/USD is trading at the 1.3665 area, virtually unchanged since opening. In terms of technical levels, the EUR/USD could find immediate resistances at 1.3678 (55-hour SMA), 1.3700 (psychological level) and 1.3716 (Jan 27 high). On the other hand, supports are seen at 1.3652 (Jan 27 low), 1.3640 (21-day SMA) and 1.3600 (psychological level). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 27, 2014 OctaFX.Com News Updates

US January Dallas Fed Manufacturing Business Index improves to 3.8 vs 3.7 (February) Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 27, 2014 OctaFX.Com News Updates

US New Home Sales Change (MoM) down to -7% in December from -3.9% (November) Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 27, 2014 OctaFX.Com News Updates

Flash: EUR/USD forecast poll shows reflexivity theory at works - FXStreet FXstreet.com (Barcelona) - Goncalo Moreira CMT, FXStreet Technical Analyst notes that the latest data for the FXStreet Currencies Forecast Poll, released on Friday, reveals an interesting behavioural pattern: in the last 51 weeks our poll participants got the market direction right 27 weeks, a little bit more than the 50% of the time. Key Quotes “This week, for the first time the average forecast coincides, furthermore, with the euro close price around 1.37. Interestingly enough, taken as a group, poll participants were correctly forecasting 1.37 four weeks ago, but they got it blatantly wrong (insist, as a group) forecasting 1.35 in their short-term views just one week before on January 17th.” “A correlation of 54% is not enough to attribute the one-month-ahead prognosis with any forecast capacity. Worth mentioning, in turn, is the very high correlation the short-term views usually have with the one-week-ahead close price, which is above 80%.” “Although last Friday's close exceeded the close from two weeks ago, when the data suggested that “more traders went from remaining cautiously bullish to openly enthusiastic”, this week's poll points to a lower rise in price. A rise in short-term expectation which is can be seen as value chasing price.” “At a first glance, the predominant red colour on our dashboard hasn't changed. But comparing the relative frequency of bullish and bearish biases extracted from the most recent data and from the week before, the most notable change we notice is the increase in optimism in the short-term, now encompassing 28% of the polled participants after bottoming below 10% last week.” “What does this means for traders? Despite seven weeks of alternation between positive and negative performances in the EUR/USD, never was the uniformity among participants so high as last Friday. Misinterpreted as a message to go with our friend the trend, we should have taken this consensus of opinion as a reason to adopt a contrarian approach. Unless this market leaves the 1.35-1.37 range behind we will be fooled by value chasing price. This is reflexivity theory at works.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 27, 2014 OctaFX.Com News Updates

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AUD/USD for 0.85? FXstreet.com (Guatemala) - AUD/USD has reclaimed the 0.87 handle after a punishment of sellers hitting the unit down through the figure from 0.8760. The pair was hit after RBA’s Ridout saying AUD near 0.80c would be a fair deal. Then China came issuing alerts on credit risks in the coal industry. The pair wasn’t below 0.87 in three years. Some analysts expect pressure to build as we head towards 0.8500 with there only being real support in 0.8630/40. AUD/USD Levels The 20 DMA is 0.8894, the 50 DMA is 0.9004 and the 200 DMA is 0.9332. RSI (14) reads 52.95. Supports are ascending from 0.8560, 0.8630/40. Spot is 0.8717 with resistances at 0.8775, 0.8815, 0.8858 and 0.8889. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 24, 2014 OctaFX.Com News Updates

USD/JPY extends below 104.00 FXstreet.com (Edinburgh) - The USD/JPY is extending its intraday decline on Thursday, as the greenback continues to weaken amidst downbeat data in the US economy and renewed JPY strength. USD/JPY still bullish Despite today’s correction lower, most analysts rule out any change in the main bullish perspective, although today’s decline should be followed carefully. In the opinion of strategists at the Swiss bank UBS, “While today’s aggressive selloff in USDJPY doesn’t mark an outright bearish reversal, it certainly suggests that the pair is entering into an extended correction. Our main concern is that the current weakness has not only failed below the previous high of 105.48 on Jan 2, it has broken support as at Monday’s 103.85 low, suggesting a pattern of lower highs and lower lows”. USD/JPY relevant levels At the moment the pair is losing 0.75% at 103.71 with the immediate support at 103.00 (low Jan.14) ahead of 102.85 (2014 low Jan.13) and then 102.56 (low Dec.18). On the upside, a break above 104.15 (MA200h) would expose 104.55 (MA21d) and finally 104.84 (high Jan.23). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 23, 2014 OctaFX.Com News Updates

AUD/USD rallies are being faded FXstreet.com (Guatemala) - The AUD/USD rallies are being sold, post a soft China PMI reading last night. The Australian CPI figures gave flight to the pair but price action there became heavy and rallies are a fade, despite the weaker set of recent US data. Data wise, US weekly jobless claims rose 1k to 326,000 which came in slightly better than forecast . Markit US PMI 53.7 preliminary in January was weak. Economists had forecast a rise to 55.0 from 54.4. Existing homes sales printed 1.0% beating expectations of 0.4%. AUD/USD Levels The 20 DMA is 0.8901, the 50 DMA is 0.9015 and the 200 DMA is 0.9340. RSI (14) reads 41.11. Supports are ascending from 0.8720, 0.8737, 0.8756. Spot is 0.8780 while resistances are 0.8815, 0.8858, 0.8889, 0.8940 and 0.8956. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 23, 2014 OctaFX.Com News Updates

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US Markit Manufacturing PMI declines to 53.7 in January from 55 in December Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 23, 2014 OctaFX.Com News Updates

Canada BoC Interest Rate flat at 1% Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 22, 2014 OctaFX.Com News Updates

GBP/JPY reaching yearly highs FXstreet.com (Guatemala) - GBP/JPY has reached a high of 173.14 from 171.50 on the day post Central Bank policy making activity. “November, BoE minutes concede that u/rate may reach the 7% policy threshold “materially earlier” than the central bank had expected but there was no need to raise rates soon. The BoJ policy meeting ended with the current pace of monetary expansion maintained, as expected”, explained TD Securities strategists. Strategists at Brown Brothers Harriman explained “The BOJ left policy unchanged, with the current plan being to increase the monetary base by ¥60-70trn until the inflation target is achieved”. GBP/JPY Levels The 20 DMA is 171.90, the 50 DMA is 168.60 and the 200 DMA is 157.60. RSI (14) reads 65. Supports are ascending from 169.80, 170.10, 170.60, 171.10, 172.35, 172.75. Spot is while resistances are 173.15 and 173.95. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 22, 2014 OctaFX.Com News Updates

Flash: JPY Bullish Percentage Index 60% bullish - FXStreet FXstreet.com (Barcelona) - Goncalo Moreira, FXStreet Technical Analyst notes that the Yen Bullish Percentage Index has 60% of its components in a bullish mode, this means that the currency is trending up against a basket of more than 20 world currencies when measured in a Point and Figure chart. Key Quotes “In turn, Euro-based pairs have mostly been below the 50% mark since the start of the year.” “The most recent trend change came with the 50% line crosses on the 17th January, when the EUR/JPY called to live a descending channel by rejecting the 142.80s. The pair is now dealing with this line, but it has to do it in a convincingly manner in order to get rid of the downside offensive.” “The BPI oscillating above and below 50% without reaching the 70 or 30 levels, as is the case for the Euro is indicative of uncertainty about the prevailing trend. Things look but different for the quote currency which has revealed enough strength to abandon the 10% level and carry up through the central line.” “A firmer JPY has been also reflected in recent speculative futures positioning (see theCoT Positioning report for more details).” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 22, 2014 OctaFX.Com News Updates

US January 12 Redbook index (MoM) improves to -0.2%; 3.1% (YoY) Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 22, 2014 OctaFX.Com News Updates