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OctaFX.com-Feel free to ask Question! We invite you to be part of OctaFx for your success future, OctaFx offering 30% each deposit bonus as well 8USd no deposit bonus, fast server no re-quoutes guaranty so, join right away to became successful trader. Feel free to ask any question about OctaFX. we are glad to serve you the right way. We are here to help 24/7 because its our pleasure to server you! Open account today and enter the world of requote-free trading and the fastest execution! Join OctaFX today!
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OctaFX.Com - Financial News and Analysis
OctaFX_Farid replied to OctaFX_Farid's topic in Technical Analysis
Hopes of a shutdown, debt-ceiling deal boost markets FXstreet.com (Edinburgh) -US markets are extending the bullish momentum on Friday, advancing for the second consecutive session, as hopes of a deal to re-open the US Government shutdown and to rise the debt-ceiling are boosting the sentiment. The greenback, gauged by the US Dollar index, is trimming weekly losses and hovering over 80.40/45. At the moment, DowJones is up 0.63% seconded by the S&P500, 0.55% and the Nasdaq, 0.55%. Bourses across the pond also closed with gains following renewed hopes of a deal to unlock the US political stand-off. The FTSE100 led the winners, advancing 0.88% and followed by the DAX, 0.45% and the IBEX35, 0.08%. The shared currency is meandering around the middle of the weekly range in the proximities of 1.3540, closely following the developments in the US fiscal front. In the commodities’ space, the ounce troy of the precious metal is plummeting more than 2% at $1,266 while barrel of WTI is following the same path,, down 1.42% at $101.55. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 11,2013 OctaFX.Com News Updates -
OctaFX.Com - Financial News and Analysis
OctaFX_Farid replied to OctaFX_Farid's topic in Technical Analysis
USD/CHF consolidates 0.9120 winning front FXstreet.com (Chicago) - USD/CHF sustains gains for a 0.57% wining week back above the 0.91 zone amid a possible conflict resolution between democrats and republicans putting an end to the shutdown. Shutdown continues Yesterday, republicans agreed on short-term plan to increase the debt ceiling and gain time before it is too late for a US default. After a couple of hours of silence, president Obama said he would not approve the proposal leaving the country with uncertainty. Although Boehner worked overnight trying to negotiate, the shutdown continues despite rally triggered on hopeful spark that sent the equity markets to 9-month highs. On earlier data in the US, the Reuters/Michigan consumer sentiment index for October was 75.2 vs. expected 76 and past 77.5. Ahead of the Governor Board Member Danthine speech in Switzerland, the pair sustains gains above the 0.9120 zone. USD/CHF Technical Levels Technically speaking, the pair is offered at 0.9123 and oscillates between supports aligned at 0.9081 (October 4th highs), 0.9017 (October 9th lows) ahead of 0.8964 (October 4th lows) and the resistances set at 0.9139 (September 25th highs), 0.9176 (August 26th lows) followed by 0.9228 (September 14th lows). According OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 11,2013 OctaFX.Com News Updates -
OctaFX.Com - Financial News and Analysis
OctaFX_Farid replied to OctaFX_Farid's topic in Technical Analysis
GBP/USD turns negative FXstreet.com (Córdoba) - Following another failed attempt at 1.6000 and weighed by disappointing UK construction, the GBP/USD retreated to the 1.5950 area, turning intraday negative during the New York session. The GBP/USD found interim support at the 1.5970 zone, but as the greenback picked up strength, the Cable dropped to a fresh low of 1.5945 before finding support. GBP/USD has recovered slightly and it is currently trading around 1.5955, still 0.1% below its opening price. GBP/USD technical levels In terms of technical levels, if GBP/USD breaks below 1.5945, next supports are seen at 1.5915 (Oct 9 & 10 lows) and 1.5900 (psychological level). On the upside, resistances could be found at 1.6000 (psychological level) and 1.6050 (20-day SMA). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 11,2013 OctaFX.Com News Updates -
OctaFX.Com - Our Heartfelt Congratulations on Eid al-Adha! Dear trades, OctaFX team would like you to accept our most sincere and profound congratulations on the Feast of the Sacrifice! We wish you to spend these sacred days of one of the greatest holidays in Islam with your family and friends in happiness and harmony. Let your home prosper, your wishes be fulfilled and all your hopes and prayers be heard by Allah. During these days of celebration spread your kindness and love amongst your neighbors, friends and closest ones. We believe your good-natured deeds bring you mutual understanding and neighborliness. Let your actions these days serve the greater cause and be beneficial. We hope that compassion, generosity and peace will follow your steps in your everyday life. Let this Feast of Sacrifice be bright, effervescent and sincere, and become memorable for a long time. OctaFX CEO shared with us the most cordial congratulations – “On the occasion of upcoming holiday I would like to give my candid regards to our Muslim clients with a wish to spend their Sacred Sacrifice day in a good health, surrounded by delighted family and friends to their own satisfaction and to the well-being of the whole Muslim community”. Happy Eid al-Adha! Thrive with OctaFX! Open account today and enter the world of requote-free trading and the fastest execution! Join OctaFX today!
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OctaFX.Com - Financial News and Analysis
OctaFX_Farid replied to OctaFX_Farid's topic in Technical Analysis
Flash: staring at the debt ceiling, risk of a 2013 downgrade? – Rabobank FXstreet.com (London) - Research teams look at the market implications around a possibility of Republicans and Democrats failing to reach an agreement in time. Key Quotes: “We look back at the debt ceiling events of 2011 to get an idea what kind of market reaction we can expect before and after the debt ceiling deadline of October 17.Interestingly, they suggest only modest safe have flows before the deadline, as the perceived risk of a default remains low”. “The large declines in the 10y US treasury yield in 2011 occurred after the deal to raise the debt ceiling was made, first because of the perceived risk of a downgrade, then because S&P actually pulled the trigger". “However, the budget deficit has fallen substantially this year and the fiscal projections have also improved. This makes a downgrade in 2013 less likely, so the market impact of this year’s debt ceiling deadline should be less violent, unless Republicans and Democrats fail to reach an agreement in time". OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 10,2013 OctaFX.Com News Updates -
OctaFX.Com - Financial News and Analysis
OctaFX_Farid replied to OctaFX_Farid's topic in Technical Analysis
NZD/USD on the up on dollar weakness FXstreet.com (London) - The NZD/USD has climbed through the handle of 0.83 and is currently oscillating there supported in the 0.8290’s. US jobless claims data disappointed while the ongoing concerns around the debt ceiling are heating up as we approach the deadline. Over in New Zealand, Manufacturing PMI fell to 54.3. “Delving into the components, production, employment, new orders, finished stocks and deliveries fell across the board, perhaps responding to the on going elevated NZD”, explained research teams at TD Securities. NZD/USD Levels The 20 DMA is 0.8283, the 50 DMA is 0.8067 and the 200 DMA is 0.8182. RSI (14) reads 56.08. Supports are ascending from 0.8130, 0.8165, 0.8194, 0.8238 and 0.8249. Spot is currently 0.8297. Resistances are 0.8310, 0.8337, 0.8352 and 0.8374. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 10,2013 OctaFX.Com News Updates -
OctaFX.Com - MASSIVE Spread Reduction at OctaFX! This is a revolution in lowering the spreads that happened in OctaFX! We have reduced major currency spreads! Now you can enjoy trading with as low as 0.2 pip spreads. They’ve never been that tight. Open account today and enter the world of requote-free trading and the fastest execution! Join OctaFX today!
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OctaFX.Com - Financial News and Analysis
OctaFX_Farid replied to OctaFX_Farid's topic in Technical Analysis
EUR/GBP bid making fresh highs FXstreet.com (London) - EUR/GBP has made two attempts to the upside, reaching a high of 0.8488 on the session. Research teams at TD Securities noted that data releases from the calendar and said, “UK data this morning were all around disappointing, with industrial and manufacturing production as well as trade data for August all notably missing expectations”….the releases knocked GBP/USD lower. The BoE tomorrow should be a non-event with no change to the policy rate or the asset purchase program…the one clear risk is that this is the month they decide to start releasing their monthly statements leaving some potential for GBP shock”. And with regards to the EZ, they said, “An upside surprise to German industrial production data was the key fundamental development in the Eurozone overnight, but did little to offset the pressure on EUR/USD from earlier in the session”. EUR/GBP Levels The 20 DMA is 0.8406, the 50 DMA is 0.8499 and the 200 DMA is 0.8518. RSI (14) 63.84. Supports are ascending from 0.8365, 0.8376, 0.8404, 0.8424, 0.8439, 0.8463, 0.8475, 0.8488 and 0.8505. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 09,2013 OctaFX.Com News Updates -
OctaFX.Com - Financial News and Analysis
OctaFX_Farid replied to OctaFX_Farid's topic in Technical Analysis
EUR/CHF above 1.2300 as August added a more positive outlook on Germany FXstreet.com (Athens) – The EUR/CHF broke the 1.2300 handle again, after the data released in Germany earlier showed that the power horse is gradually leaving the disappointing July numbers behind. EUR/CHF spikes above 1.2300 as August gives a shiny outlook on Germany’s industry The EUR/CHF has been trading steadily upwards since the opening of the Asian trading session except for a couple of hours in the mid European trading session. However, after the power horse of Euro land released data that painted a solid growth outlook – totally out of the blue – the EUR/CHF gained solid support and is now hovering again above 1.2300 handle. Being more précised, industrial production in Germany increased by 1.4% on a monthly basis from a 1.1% decline in July, while it showed that it is up 0.3% on a yearly basis. Technical Outlook on EUR/CHF Our personal aspect of view remains the same; will the cross manage to overcome the 1.2317 area where the 30 daily MA standing over, while also it is just above the crucial 1.2315 level of the Fibonacci retracement as of 1.2215-1.2415? We should take upon major consideration the area as of 1.2312-1.2317 as also in 1.2312 we will find the 200-daily MA. Thus, the upper trend movement should overcome the above reef levels, in order the cross to trade higher. Karen Jones, Head Technical Analyst at Commerzbank mentions that the “EUR/CHF tested and rebounded off the 1.2217 June low. Rallies are now expected to remain capped by the 1.2312 200 day ma. Note only above 1.2315 will alleviate immediate downside pressure. This leaves the market vulnerable on the downside to further losses and it targets 1.2135/32, the April lows. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 09,2013 OctaFX.Com News Updates -
OctaFX.Com - Financial News and Analysis
OctaFX_Farid replied to OctaFX_Farid's topic in Technical Analysis
AUD benefits from Yellen bounce ahead of tomorrow's job numbers FXstreet.com (London) - AUD has rallied strongly in advance of President Obama’s nomination of Janet Yellen as the successor to US Federal Reserve Chairman Ben Bernanke. The ultra-dovish Yellen is seen as likely to be slow in tapering the Fed’s USD85bn monthly asset purchase programme, continuing to provide cheap liquidity to the markets. Despite being a foregone conclusion since Larry Summers’ resignation from the race in September, the confirmation of Yellen’s nomination has helped to rally AUD/USD 0.32 percent to USD0.9454. The Aussie dollar has been helped in anticipation of continuing commodity price support from the Fed. A further temporary AUD boost could be in store tomorrow, when it is anticipated that payroll numbers will show a September increase, aided by temporary workers hired during the general election. However Australia is still struggling with unemployment at a four-year high of 5.8 percent – something that could lead to the already dovish Reserve Bank of Australia to further slash its historic low 2.5 percent benchmark rate. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 09,2013 OctaFX.Com News Updates -
OctaFX.com - OctaFX introduces Free VPS solution! Always giving our clients the support and attention they deserve we created a perfect way to increase your profit! The great news is that starting from today, we provide you with our free VPS hosting solution for your Metatrader Expert Advisors. Having a problem with running a PC all the time to perform EA trading? Then, our splendidly tailored VPS solution is developed and designed exactly for you. Step up to be more independent even from a PC or internet connection – have your EA trade safely! OctaFX offers our clients to request personal VPS and run a pre-installed Metatrader 4 software and any EAs they want on a remote server at any time and have it trade automatically 24 hours a day. Here’s some thoughts of our CEO concerning that matter: “Our new service is created by our effective team to make your trading last longer and give you the profit you deserve. It has always been our top priority to provide you with high quality services in accordance with international standards”. OctaFX CEO Open account today and enter the world of requote-free trading and the fastest execution! Join OctaFX today!
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OctaFX.Com - Financial News and Analysis
OctaFX_Farid replied to OctaFX_Farid's topic in Technical Analysis
USD/JPY continues to gain on debt ceiling speculation FXstreet.com (London) - USD/JPY has been the bellwether pair of the US debt ceiling stand-off, with the yen strengthening into any fears that Congress will fail to pass a bill to extend the limit before October 17. Today has seen the yen falling from its eight-week highs on speculation that there will be a breakthrough in the deadlock that has led to the first US government shutdown in 17 years. But despite market sentiment, there seems to be little in the way of reassuring language coming from The Hill. Republican House Speaker John Boehner has maintained that the House will not pass a “clean” debt limit extension bill, ie. one that does not include provisions for a cut in federal spending. However, the Democrat-controlled senate will not approve anything that comes with policy riders, particularly that would delay the implementation of the Affordable Care Act. Treasury Secretary Jacob Lew has warned that congress is “playing with fire” over the debt ceiling. He will answer questions about the debt ceiling in front of the Senate Finance Committee, on Thursday, which pay present an opportunity for Republicans to ascertain areas of potential compromise. USD/JPY has gained 0.46 percent so far today, after touching a session high of JPY97.2415. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 08,2013 OctaFX.Com News Updates -
OctaFX.Com - Financial News and Analysis
OctaFX_Farid replied to OctaFX_Farid's topic in Technical Analysis
EUR/JPY ready to retest 132.00 area FXstreet.com (Athens) – The EUR/JPY has been constantly trading upwards since the kick-off of the early trading session in Asian – apart from a couple of hours after the dismal release of the German factory data – and now ‘flirting’ again with 132.00 zone EUR/JPY threatens seriously 132.00 area, being both in uptrend momentum and oversold The EUR/JPY is trading nearly the 132.00 key zone the last hour, despite the fact that the US fiscal budget “jitters” continue to elevate. The cross did only made a mini pause after the release of the dismal factory data pertaining to the factory orders of the power horse of Germany. However, it soon pares its losses and is heading north gain, ready to cross again the resistance as of 132.00 area. Traders should bear into major consideration that from a technical perspective of view, the daily graph depicts clearly an uptrend momentum combined with an oversold momentum, which in plain English is very positive for the cross. Technical Outlook on EUR/JPY Greg Gibbs, FX Strategist at RBS feels “that many investors may be starting to see an end to the Euroland crisis. Current levels of EUR/JPY provide a good entry level for long positions if you are prepared to bet on the US avoiding the worst case fiscal debt ceiling scenario.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 08,2013 OctaFX.Com News Updates -
OctaFX.Com - Financial News and Analysis
OctaFX_Farid replied to OctaFX_Farid's topic in Technical Analysis
Canada Exports up to $39.77B in August from $39.05B Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 08,2013 OctaFX.Com News Updates -
OctaFX.com- China Unionpay deposits now available! Dear clients! OctaFX moves on with its expansion into Chinese market and glad to announce another convenient deposit option for our clients. Our clients in China can now deposit their accounts via China Unionpay cards. This is a very popular payment system in China, counting hundreds of millions of users worldwide. OctaFX supports major Chinese banks and China Unionpay cards. The deposit is instant and absolutely free of charges, no commissions or other hidden fees are applied. Just as usual you can deposit your account in your Personal Area or by following this link (Personal Area login required). https://my.octafx.com/deposit/new/ We are very proud to serve our clients in China and we do promise to offer more convenient deposit options and promotions this year! Open account today and enter the world of requote-free trading and the fastest execution! Join OctaFX today!
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OctaFX.Com - Round 18 OctaFX Champions’ stories of success arrived!! Dear traders! Round 19 of OctaFX Champion Demo Contest gathers pace and we would like you to hear from Round 18 winners, as it’s always inspiring to get the view of the contest from the leaders themselves! Let us remind you our winners: OctaFX Forex Championship 1st place – Mr. Fitriyanto Muzamil from Indonesia 2nd place – Mr. Makmun Herri Rojiqien Martadireja from Indonesia 3rd place – Mr. Mohd Musa Mohd Yusof from Brunei The last runner in the contest – Mr. Ahmad Naufal from Indonesia. What is the key factor to your success? Why are you better than everyone else? 1st place – Mr. Fitriyanto Muzamil: This is a combination of analysis, courage and luck. I managed to increase my profits because I saw the exact moment, I dared to take risks, and it turned out market movements matched my expectations How do you feel being an OctaFX Champion? 1st place – Mr. Fitriyanto Muzamil: I am very proud to be the champion. It makes me more confident and motivates me to continue to learn and explore trading system. 2nd place – Mr. Makmun Herri Rojiqien Martadireja: I am very happy, and now I'm sure the analysis done by me was effective. How involved in the contest you were – was it taking all of your time? 1st place – Mr. Fitriyanto Muzamil: I open position only at a certain moment when I am confident in my chances. But to determine the exact moment one must frequently monitor market. 2nd place – Mr. Makmun Herri Rojiqien Martadireja: No, it only takes me 1 to 2 hours to do an analysis before the start of trading. What trading tools are most preferred by you? Majors or exotic, and why? 1st place – Mr. Fitriyanto Muzamil: I combine several tools, it must be determined by needs. 2nd place – Mr. Makmun Herri Rojiqien Martadireja: Majors, it is easier to get a reference from a friend via forums. How long does it take to become a good trader? 1st place – Mr. Fitriyanto Muzamil: No time limit, because a trader must keep learning and explore skill every time. I first learned about trading 6 months ago. 2nd place – Mr. Makmun Herri Rojiqien Martadireja: It took me 30 days. As you can see, our winners have some points in common, on the other hand some of their techniques are completely different – it proves that there are several solid ways to become an OctaFX Champion. Now, being incredibly motivated by our winners’ words – feel free to register in Round 20 OctaFX Champion Demo contest! Open account today and enter the world of requote-free trading and the fastest execution! Join OctaFX today!
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OctaFX.Com - Financial News and Analysis
OctaFX_Farid replied to OctaFX_Farid's topic in Technical Analysis
Flash: The USD/JPY looking for slide to 200 day ma - Commerzbank FXstreet.com (Athens) – Karen Jones, Head Technical Analyst at Commerzbank suggests that the USD/JPY hasn’t changed. Key Quotes “The market remains under pressure and is on course for the 200 day ma at 96.63, the August low at 95.80 and the 95.58 5 month support line. This is expected to hold the downside and provoke reversal.” “The short term resistance line offers initial resistance at 98.32 ahead of the 100.62 September high then 101.54/60 July high and the Fibonacci retracement.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 04,2013 OctaFX.Com News Updates -
OctaFX.Com - Financial News and Analysis
OctaFX_Farid replied to OctaFX_Farid's topic in Technical Analysis
USD/JPY extends decline below 97.30 FXstreet.com (San Francisco) - The Dollar is getting hurt today's session following the weaker than expected jobless claims and ISM non-manufacturing reports. Against the Japan Yen, the Greenback is now trading around 97.30. After declining around 55 pips from 97.85 to break below 97.50, the USD/JPY has reached intra-day lows around 97.25. Currently the pair is pricing at 97.32, almost flat on the day. Short term perspective is slightly bearish according to the FXstreet.com trend index in the 1-hour chart. Indicators such as CCI and Momentum are pointing to the south while the Stochastic and MACD are neutral. USD/JPY Technical Bias According to FXstreet.com Chief Analyst Valeria Bednarik, "USD/JPY attempt to recovery halted around 97.80, with the pair turning back south early US session." Support levels are at 97.20, 96.80 and 96.40. Resistance levels are at 98.00, 98.40 and 98.80. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 03,2013 OctaFX.Com News Updates -
OctaFX.Com - Financial News and Analysis
OctaFX_Farid replied to OctaFX_Farid's topic in Technical Analysis
USD/JPY lower on weaker US labor data excluding furloughed workers FXstreet.com (Athens) – The USD/JPY is heading lower after the US initial jobless claims release, proved to be slightly weaker than expected but it is logically much worse as it doesn’t reflect the more than 800.000 workers furloughed due to government’s shutdown. USD/JPY under pressure as initial jobless claims become more baffling than ever The USD/JPY was hovering around 97.65 before the release of the US labor data, but after the data released across the board at a slightly weaker level, the cross started to move downwards, as the greenback got under renewed pressure across the board. We could consider that the real fact that the American dollar got under pressure, dragging down the pair almost 10 pips nearly 97.55 area, was not that the initial jobless claims increased by 1000 to a seasonally adjusted 308.000 in the week ended as of the 28th September. The careful reader should see behind the curtains; the figure released by the Labor Department has a lot of drawbacks. After California, Nevada it’s now the 800,000 not included in data First of all, it doesn’t conclude the more than 800.000 workers furloughed due to government’s shutdown. What’s more, Federal furloughs won't show up in forthcoming claims data, according to the US Department of Labor. Finally, we should take for granted that anyhow the data is distorted enough not only because does not include the furloughed workers but also due to the fact that the 4-week moving average of claims includes the weeks when California and Nevada underreported claims due to the computer system upgrades. On the other hand, Fed officials would well see the 800,000 furloughed workers more as a “temporary layoff”, therefore it will not influence their decision on the debt-ceiling. Technical Outlook on the USD/JPY Emmanuel Ng of OCBC Bank, suggests “that with the pair is under considerable downside pressure. Having punctured the 98.00 level convincingly, the next support of consequence is only expected towards the 200-day MA (96.58). Structurally, the USD is expected to remain laden on the back of the fiscal impasse while any deterioration in global risk appetite levels may also weigh on the JPY-crosses.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 03,2013 OctaFX.Com News Updates -
OctaFX.Com - Financial News and Analysis
OctaFX_Farid replied to OctaFX_Farid's topic in Technical Analysis
EUR/USD muted on US Claims FXstreet.com (Edinburgh) -The euro remained mostly indifferent after the Initial Claims came in below expectations, with the EUR/USD hovering over 1.3600 the figure. EUR/USD indifferent after data The pair is trading unchanged on Thursday, after Initial Claims dropped to 308K in the week ended on September 27th, surpassing estimates at 313K albeit a tad higher than the previous week print at 308K. Next on tap will be the ISM Non manufacturing, with prior estimates pointing to a decrease to 57.4 during September. EUR/USD key levels The pair is now advancing 0.19% at 1.3604 with the next resistance at 1.3623 (high Oct.3) followed by 1.3660 (high Feb.4) and then 1.3711 (2013 high Feb.1). On the downside, a break below 1.3578 (low Oct.3) would clear the way to 1.3526 (MA10d) and finally 1.3505 (low Oct.2). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 03,2013 OctaFX.Com News Updates -
OctaFX.com- OctaFX King of the Road Contest Current update of OctaFX Champion Demo Contest! Currently our top contestant mhayaj (18) from Jordan has piled up with 112.0 Points. So, come and grab the opportunity and be the part of matchless traders. Deposit to your account today, register for the contest and let the most proficient trader win! How to take part in the contest Start Now! Thank you for trading with OctaFX. Open account today and enter the world of requote-free trading and the fastest execution! Join OctaFX today! Please stay tuned for the news and updates from OctaFX! Wishing you luck and profitable trading, yours truly, OctaFX!
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OctaFX.Com - Financial News and Analysis
OctaFX_Farid replied to OctaFX_Farid's topic in Technical Analysis
EUR/USD consolidates below 1.3600 FXstreet.com (Edinburgh) -The shared currency keeps the upper band of today’s range, with the EUR/USD meandering around 1.3580/1.3600. EUR/USD boosted by Italy, ECB The single currency found extra oxygen after Italian PM Enrico Letta won the confidence vote in the Senate (235-70), leaving behind the political unease after last weekend’s events. Recall that ‘Il Cavaliere’ Silvio Berlusconi ordered PdL’s parliamentary members to withdraw their support to the Government, triggering once again another political crisis in the peninsula. Further impulse came in after the ECB meeting and press conference by President Mario Draghi. A repetition of past comments and announcements disappointed investors, who were expecting a dovish tone. EUR/USD relevant levels The pair is now advancing 0.44% at 1.3587 with the next resistance at 1.3660 (high Feb.4) followed by 1.3711 (2013 high Feb.1) and finally 1.3800 (psychological level). On the downside, a break below 1.3505 (low Oct.2) would aim for 1.3500 (psychological level) and then 1.3467 (low Sep.30) OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 02,2013 OctaFX.Com News Updates -
OctaFX.Com - Financial News and Analysis
OctaFX_Farid replied to OctaFX_Farid's topic in Technical Analysis
GBP/USD deflates to 1.6230 FXstreet.com (Edinburgh) -The bullish momentum around the sterling is losing steam at the moment, with the GBP/USD hovering over 1.6230/25 after hitting fresh multi-month highs around 1.6260. GBP/USD following risk The 1.6250/60 band seems to be quite a tough barrier for the pair so far, proved by the recent unsuccessful attempts to follow through it despite the favourable risk-on atmosphere. The pair managed to comfortably leave the poor result from the Construction PMI in the UK behind, missing estimates and coming in lower than the August’s reading. “As noted of late, recent gains are now “stretched”, despite the more positive stance in weekly charts. Any slippage below 1.6100 should now raise some concern, though the risk of unraveling recent gains would only develop on a close below the interim 1.5955 of late September”, suggested Tim Riddell, Head of Global Markets Research at ANZ. GBP/USD relevant levels As of writing, the pair is up 0.23% at 1.6233 with the next resistance at 1.6300 (psychological level) followed by 1.6380 (2013 high Jan.2) and then 1.6400 (psychological level). On the flip side, a break below 1.6162 (low Oct.2) would expose 1.6100 (low Sep.30) and finally 1.6092 (MA10d). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 02,2013 OctaFX.Com News Updates