OctaFX_Farid

USD/JPY eyeing 121.00 levels? – FXStreet FXStreet (Barcelona) - According to Valeria Bednarik, Chief Analyst at FXStreet, a USD/JPY break above the resistance at 120.40/50 shifts focus to the key 121.00 figure. Key Quotes “Broad dollar strength pushed the USD/JPY above the 120.00 level for the first time this week, although the pair continued to lack any kind of directional strength, consolidating steady below the 120.20 level ahead of surprise positive US data that boosted the pair higher.” “Now breaking above the 120.40 figure, the 1 hour chart shows that the price is extending above its moving averages, while the technical indicators head sharply higher after bouncing from their mid-lines.” “In the 4 hours chart, the RSI anticipates further advances, heading higher around 70, albeit the Momentum indicator is flat above 100, not yet reflecting the latest advance.” “The immediate resistance stands in the 120.40/50 region, with a break above it favoring an approach to the 121.00 figure.“ “Support levels: 120.10 119.60 119.20“ “Resistance levels: 120.45 120.85 121.25” May 19,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker!

BoJ likely to remain on hold in its May policy meeting – BAML FXStreet (Barcelona) - The Team at BofA-Merrill Lynch, previews the BoJ monetary policy meeting on 21-22 May, and expect the central bank to maintain its policy and QE purchases unchanged. Key Quotes “The Bank of Japan (BoJ) will hold a Monetary Policy Board meeting on 21-22 May. We expect it to adhere to its current monetary policy framework, including the amounts and residual maturities of its bond purchases. This is because we do not at this stage expect any significant change in the growth and inflation outlooks that it included in its Outlook report on 30 April.” “Of the data announced since the last policy meeting, the April Economy Watchers Survey showed improvement in both the current and outlook diffusion indexes. Although the rate of improvement in labor conditions slowed, labor market supply-demand is still tight.” “On the inflation side, core consumer prices (excluding consumption tax impacts) rose 0.2% YoY in March, a slight recovery from 0.0% in February, but the central Tokyo CPI for April suggests inflation is likely to narrow again without following an established trend.” “At any rate, the change in energy prices is having a major impact. Without any significant changes in the data on the economy and the output gap, we think the BoJ is unlikely to modify its assessment of the underlying inflation trend.” May 19,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker!

AUD/USD drops to 1-week low after US housing starts FXStreet (Córdoba) - AUD/USD lost nearly 50 pips in a matter of minutes and hit a 1-week low as the dollar strengthened across the board on the back of a strong jump in US housing starts. US housing starts soared 20.2% in April to 7-year high annual rate of 1.135 million, beating expectations of 1.019 million. Meanwhile, building permits, a gauge of future demand, rose by 10.1% in April to 1.143 million, the most since mid-2008. AUD/USD broke below the 0.7950 zone and fell to its lowest level since May 12 at 0.7923 in recent dealings. At time of writing, the pair is trading at 0.7935, recording a 0.65% loss on the day. The Australian dollar has also been facing pressure from dovish RBA minutes and lower copper and iron-ore prices. AUD/USD is falling for fourth day in a row, pulling back from a 4-month high of 0.8162 scored last week. May 19,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker!

Going long on GBP/USD – Growth Aces FXStreet (Barcelona) - The Growth Aces Research Team maintains their bullish outlook on GBP/USD, going long at 1.5460, targeting 1.5800 levels. Key Quotes “Our GBP/USD long position opened at 1.5610 and broke below the support level at 1.5537 (38.2% fibo of 1.5088-1.5815 rise). The stop-loss was hit at 1.5530. However, we do not see any fundamental reasons for a trend change.” “We have placed another buy order at 1.5460, just above the 50% fibo of the above-mentioned move. If the order is filled we see the scope for gains towards this-month highs near 1.5800.” “GBP/USD: buy at 1.5460, if filled - target 1.5800, stop-loss 1.5365, risk factor *” May 19,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker!

EUR/USD rebound to 1.12 likely to attract bears – TDS FXStreet (Barcelona) - The recent San Francisco Fed speech and ECB’s ‘front-loading’ of asset purchases caused the euro to fall against the dollar, and any rebound to 1.12 levels will likely attract sellers, according to FX Strategists at TD Securities. Key Quotes “The EUR is under pressure again this morning following comments from the ECB’s Coeuré indicating that the central bank would “front load” asset purchases through May and June, ahead of an anticipated lull in market activity/liquidity through the European summer. In addition, another governing council member (Noyer) observed that the ECB was ready to boost QE, if required.” “The headwinds building up against the EUR rally were bolstered by a weekend report from the San Francisco Fed which suggested that the US economy was “substantially stronger” than official GDP data; after adjusting for a statistical quirk which might be responsible for the weakness in GDP growth in Q1 that has been a feature of the landscape in the past 5 years, the SF Fed said the US economy grew 1.8% in Q1, rather than the 0.2% rise reported in the official data.” “Soft German ZEW data today rounded out the negative fundamental news for the EUR. With the ECB talking dovishly and the SF Fed possibly providing some cover for Fed lift-off later this year, little wonder EURUSUD is on the ropes; as we pointed out here, the technical situation for EURUSD would deteriorate on a break below support in the mid 1.12s.” “We think EURUSD rebounds to the mid/upper 1.12s will attract sellers from here going forward.” May 19,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker!

UK deflation temporary, November hike by BoE remains on cards – Danske FXStreet (Barcelona) - Analyst at Danske Bank, Mikael Olai Milhøj, reviews the UK inflation data release, and further argues that the deflationary phase is likely to be temporary and inflation will pick up in H2. Key Quotes “UK CPI inflation was in deflation in April as the annual growth rate in the consumer price index fell to -0.1%, down from 0.0% in March (Danske Bank: 0.1% y/y, consensus: 0.0% y/y). This is the first time since the official records began in 1996 and the first time since 1960, based on historical estimations. Core inflation dropped against expectations to 0.8% in April from 1.0% in March.” “Services inflation fell to 2.0% y/y in April down from 2.4% in March. This is the lowest reported since records began in 1996. This fall was also caused by cheaper air tickets. Higher inflation in services prices is needed for the Bank of England to hit its 2% inflation target, in particular since the strong GBP puts downward pressure on import prices.” “As mentioned, the UK is now officially in deflation, but this is very likely to be temporary. We expect CPI inflation to pick up sharply in H2 when the base effects from the declines in energy and food prices begin to drop out.” “Mark Carney, Governor of the Bank of England, has on several occasions stated that inflation could turn negative, implying that today’s figure should not affect the individual views of the members of the Monetary Policy Committee.” “The very low inflation is good news for UK citizens who are experiencing positive real wage growth for the first time since 2009, which supports private consumption and hence the recovery.” “We still expect the MPC to hike in November this year as the medium-term inflation outlook, in our view, still calls for tighter monetary policy. However, as core inflation is also low and sterling is strong, the MPC can be more patient with the first Bank Rate hike, which continues to be a downside risk to our current call.” May 19,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker!

USD Index set to resume its bull trend – BAML FXStreet (Barcelona) - MacNeil Curry, CFA, CMT, Technical Strategist at BofA-Merrill Lynch, views that USD Index looks likely to resume its bull trend towards 106.00. Key Quotes “The US $ Index looks to be in the final stages of its multi-month correction. Into 92.43, we look for basing and a resumption of its long-term uptrend toward 106.00. Bulls need a break of 95.51 to say that the correction is done and the bull trend has resumed.” May 19,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker!

US housing starts and building permits data preview – BBH FXStreet (Barcelona) - The Brown Brothers Harriman Team previews the US data releases today – US housing starts and building permits, noting that consensus expects both to stage a recovery. Key Quotes “The North American session features April housing starts and permits. This sector had been undermined by the weather, especially in the February. A small recovery was seen in March, and a stronger recovery is expected in April.” “Permits, a leading indicator, have held up better. The Q1 monthly average was 1068. The Q4 14 monthly average was 1070. The consensus expects April permits to have risen to 1064.” “That said, the economic bounce back in Q2 has thus far not been very impressive, and not on par with last year’s recovery after the Q1 contraction.” May 19,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker!

German ZEW index drops in May, but economy outlook still positive – ING FXStreet (Barcelona) - Carsten Brzeski of ING, reviews the German ZEW index data release and further comments on the economic outlook, maintaining a positive stance on German growth. Key Quotes “Today’s ZEW index shows that German investors have lost parts of their earlier optimism. In May, the headline index dropped for the second straight month to 41.9, from 53.3 in April. This was the strongest monthly drop since August last year. At the same time, the current assessment component dropped for the first time since October last year and stands now at 65.7, from 70.2 in April. Despite today’s drop, both components remain far above their historical averages.” “In our view, there are still very few arguments in favour of changing our positive take on the German economy. In fact, even if the external tailwinds have subsided somewhat, they are still there. Just to put latest developments into perspective: compared with their average value of the last 12 months, bond yields are currently still some 20bp lower, the euro some 10% weaker and oil prices almost 30% cheaper. Still sufficient to give the economy a cool breezy boost.” “Moreover, domestic fundamentals remain sound and particularly consumption should support growth in the coming months.” May 19,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker!

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WTI crude drops below USD 60/barrel FXStreet (Mumbai) - The West Texas Intermediate (WTI) crude futures in the US fell below USD 60/barrel, after having failed to sustain gains above its 200-DMA located at USD 60.46. Prices had clocked a high of USD 60.85/barrel after a major advance by Islamic State militants in Iraq. However, supply concerns made sure the price gain did not last long enough. Prices came under pressure after Iran's Deputy Oil Minister Rokneddin Javadi told Reuters that OPEC was unlikely to cut output in June. Meanwhile, bearish long-term price forecasts from Investment bank Goldman Sachs also weighed over prices. WTI Crude Technical Levels Futures currently trade at USD 59.68/barrel. The immediate support is seen at 59.58 (10-DMA), under which prices could drop to 58.73 (May 11 low). On the other hand, resistance is seen at 60.00, above which prices could re-test the daily high of 60.85. May 18,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker!

OctaFX.com-US Memorial Day Trading Schedule! OctaFX would like to inform you of the changes in the trading hours of XAU/USD and XAG/USD on US Memorial Day May 25. Trading closes Monday, May 25, 2015 at 20:00 (EEST, Server time) and re-opens Tuesday, May 26 2015 at 01:00 (EEST, Server time). Please, consider the fact that any open trades upon closure of trading hours will be rolled into the next day. We would like to apologize for any inconvenience caused. Please, contact our Customers Support in case you have any questions. If any failures occur, please report immediately to support@octafx.com Thank you for choosing OctaFX as your top-notch Forex Broker ! 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! OctaFX-Most Reliable Forex broker 2014 by FX Empire!

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UK inflation expected at -0.1% yoy in May – Goldman Sachs FXStreet (Barcelona) - The Team at Goldman Sachs shares their forecast for UK inflation data to be released in the next week. Key Quotes “UK inflation data will also be released next week, on Tuesday. We expect annual CPI inflation to be -0.1%yoy in May. UK Public borrowing data will also be released next week, on Friday.” May 15,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker!

EUR/USD key resistance at 1.1536 – SG FXStreet (Barcelona) - Technical Analysts at Societe Generale, note that the target for the confirmed double bottom pattern seen in EUR/USD remains at 1.1536. Key Quotes “After rebounding from the multi-year upward channel at 1.05/1.04, EUR/USD is now closing in on its February high of 1.1536, also the 50% retracement from last December.” “It is noteworthy that the pair confirmed a double bottom formation last month, and the projected target for the pattern will be met once the 1.1536 level is achieved.” “However, the weekly RSI is now probing a trend line resistance and, more importantly, is closing in on the graphical level of 50%, suggesting limited upside. 1.1536 will be a key resistance.” May 15,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker!

US industrial production falls for fifth straight month – ING FXStreet (Barcelona) - Reviewing the US industrial production data result, James Knightley, Senior Economist at ING, notes that the yet another fall of 0.3% mom, posts a dim picture for the expected bounce in Q2 GDP. Key Quotes “US industrial production for April has fallen 0.3%MoM , worse than the 0.0% consensus forecast, but there was a three tenths of a percentage point upward revision to March so on levels terms output is in line with expectations.” “In terms of the components, manufacturing output was flat on the month after rising 0.3% in March with auto production providing the main area of strength, rising 1.3%MoM. However, the bulk of the other components were either flat or down.” “Utilities was surprisingly down 1.3% after a 5.4% drop last month. We had assumed a better outcome here given weather patterns have been returning to normal.” “Rounding out the numbers was a 0.8% drop in mining, led by a 14.5% drop in oil and gas well drilling. This again highlights how the plunge in the oil prices hasn’t been universally positive for the US economy.” “Taking this altogether, industrial output has now fallen for five straight months, which is not the sort of environment in which the Federal Reserve raises interest rates. Certainly, the oil price effect has been in play and dented oil and gas output, but manufacturing has also been subdued.” “With retail sales also looking fairly soft, expectations of a decent bounce in 2Q GDP after 1Q's weakness are starting to evaporate.” May 15,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker!

USD/CAD in highs near 1.2070 FXStreet (Edinburgh) - The US dollar is appreciating further on Friday vs. its Canadian counterpart, taking USD/CAD to session tops near 1.2070. USD/CAD stronger despite US data The pair reacted positively in spite of both US Industrial Production and Capacity Utilization have missed estimates during April, contracting 0.3% inter-month and falling to 78.2%, respectively. On the Canadian side, Manufacturing Shipments surprised to the upside expanding at a monthly pace of 2.9%, largely reverting February’s 1.7% contraction and surpassing the 0.1% gain forecasted. USD/CAD levels to watch At the moment the pair is gaining 0.61% at 1.2056 with the next hurdle at 1.2100 (psychological level) ahead of 1.2107 (high May 12) and then 1.2200 (psychological level). On the other hand, a breakdown of 1.1920 (low May 14) would open the door to 1.1900 (psychological level) and then 1.1836 (low Jan.12). May 15,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker!

Australian rates might fall to 1.5% - Capital Economics FXStreet (Barcelona) - Paul Dales, Chief Australia & New Zealand Economist, notes that the Australian budget lends support to the view that RBA might cut rates further to 1.5%. Key Quotes “The Reserve Bank of Australia and the Treasurer appear to be playing tennis with the economy. RBA Governor Stevens has already cut interest rates to 2.0% and hinted that he would like fiscal policy to provide more help. In last week’s Budget, Treasurer Hockey ignored this plea and left the economy facing a large fiscal squeeze. The ball is now back in the RBA’s court. Although we don’t expect any immediate action, the Budget lends some support to our view that rates may yet fall to 1.5%.” “The minutes of the RBA’s May policy meeting, which will be released on Tuesday, are unlikely to hint that further interest rate cuts are in the pipeline. That said, it wasn’t until the month after it cut rates in February that the Bank suggested that another cut might be needed. As such, we would warn against reading too much into what might appear to be a relatively hawkish release.” May 15,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker!

GBP/USD dominant bull trend remains in place – FXStreet FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet, gives the technical outlook and key levels for GBP/USD, noting that 4H technical indicators remain in favour of the dominant bullish trend for the pair. Key Quotes “The GBP/USD pair fell down to 1.5700 ahead of the US macroeconomic releases, finally correcting lower after eight days of steady advances. Nevertheless, the pair found short term buying interest around the mentioned low, and slowly recovers ground.” “Technically however, the 1 hour chart continues to favor the downside, as the 20 SMA stands above the current price whilst the indicators are barely bouncing from oversold levels.” “In the 4 hours chart, the price hovers around a strongly bullish 20 SMA, whilst the RSI has corrected extreme overbought readings and hovers around 60, as the Momentum indicator turns flat above 100, suggesting the dominant bullish longer term trend remains firm in place.” “Support levels: 1.5685 1.5650 1.5620” “Resistance levels: 1.5730 1.5775 1.5810” May 15,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker!

Commodity currencies basing? – MP FXStreet (Barcelona) - Dean Popplewell, VP of Currency Analysis and Research at MarketPulse, mentions that the recent strength exhibited by AUD, NZD and CAD show signs of reversing. Key Quotes “Investors are finally willing to look more closely at commodity- and interest rate-sensitive currencies like the Aussie, Kiwi, and Canadian dollars. Of late, they have been outperforming the “mighty” dollar by some degree: the loonie is trading C$1.1930, the Aussie has breached A$0.8140, and the Kiwi dollar is printing $0.7550. These levels are in direct conflict to their respective central banks’ rhetoric. The recent strength by commodity currencies is showing signs of reversing, with topping chart patterns in AUD and NZD outright, while USD/CAD shows signs of basing.” May 15,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker!

US Industrial production declines for fifth consecutive month in April FXStreet (Mumbai) - The data released by the Federal Reserve on Friday showed the US industrial production in April fell for the fifth straight month. Output adjusted for season variations contracted 0.3% in April, beating the forecast of a 0.1% rise. The previous month’s figure stands unrevised at -0.6%. Manufacturing output was flat, with manufacturing ex-Auto falling 0.1%. Mining and utility output also declined last month. Capacity utilization dipped to 78.2% from 78.6% in March, indicating low cost pressure on goods prices. May 15,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker!

USD/CAD expected to see 1.23 by 2015-end – Rabobank FXStreet (Barcelona) - Jane Foley, Senior Currency Strategist at Rabobank, comments on the rate expectations by the BoC and Fed, and further forecasts USD/CAD to head towards 1.23 levels by 2015-end. Key Quotes “While we not expecting the BoC to cut rates again this year, the current strength of the CAD argues in favour of low rates for longer.” “The next BoC policy meeting is scheduled for May 27. By then it will be clearer if the period of weakness in US growth is less transient that is currently hoped. A less robust US recovery or more persistent strength in the loonie could result in a more dovish tone from the BoC.” “Given our forecast of a December Fed hike, we expect USD/CAD to push to the 1.23 region by year-end.” May 15,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker!

Remain long on GBP/USD, targeting 1.5880 – Growth Aces FXStreet (Barcelona) - Expecting UK April CPI to edge higher to 0.1%, the Growth Aces Research Team, maintains a bullish outlook on the pair. Key Quotes “The GBP/USD edged away from a five-and-a-half-month high on Friday after a post-election rally. Adding to its election-inspired rally, the GBP was also boosted earlier in the week by data that showed British earnings growth had picked up more than expected in the first quarter of the year. The market has been concentrating mainly on positive news for the GBP recently. The losses after slightly more-dovish-than-expected BoE Inflation Report were short-lived.” “The next significant data will be April CPI reading on Tuesday. We expect CPI to accelerate to 0.1% yoy from 0.0% yoy in March.” “We are looking to buy GBP/USD at 1.5610, just above 200-dma (1.5608). The 50% fibo of the July 2014-April 2015 slide at 1.5880 will be the next bull target.” “Resistance: 1.5815 (high May 14), 1.5826 (high Nov 27, 2014), 1.5880 (50% of 1.7192-1.4567)” “Support: 1.5711 (hourly low May 13), 1.5608 (200-dma), 1.5558 (low May 12)” May 15,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker!