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OctaFX.Com - Financial News and Analysis
OctaFX_Farid replied to OctaFX_Farid's topic in Technical Analysis
USD/CAD found support at 1.2210 FXStreet (Edinburgh) - The Canadian dollar is now shedding part of the initial gains vs. the greenback, pushing USD/CAD back to the 1.2235/40 band. USD/CAD eyes on the US docket Spot found some support in the 1.2210 area during the European morning, ahead of the US data releases due later: Existing Home Sales (5.05 M exp. in March), Housing Price Index (0.7% Feb) and the weekly report on crude oil inventories by EIA, expected to increase by 2.375 million barrels in the week ended on April 17th. After bottoming out in fresh multi-month lows just below the 1.2100 handle last week, the pair gained steam and recovered the 1.2200 mark and beyond, although gains seem to be limited by yesterday’s tops near 1.2300. USD/CAD significant levels At the moment the pair is losing 0.30% at 1.2244 and a breach of 1.2215 (low Apr.21) would expose 1.2180 (low Apr.20) and finally 1.2100 (psychological level). On the other hand, the immediate resistance aligns at 1.2296 (high Apr.21) followed by 1.2300 (psychological level) and then 1.2328 (high Apr.16). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 22,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! -
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OctaFX.Com - Financial News and Analysis
OctaFX_Farid replied to OctaFX_Farid's topic in Technical Analysis
Greek default without ‘Grexit’ would be too negative for EUR – SG FXStreet (Barcelona) - Kit Juckes of Societe Generale shares the key developments surrounding Greece – default risks, Grexit talks and the possible impact on the single currency. Key Quotes “The Greek crisis was ignored by the FX market last week as peripheral spreads widened and the Euro rallied. This morning, it's the reason for the Euro to be softer and the dollar to be rallying again.” “The reasons given for day-to-day gyrations of EUR/USD within its broad 1.0450-1.1050 range need to be taken with a pinch of salt but....a Greek default without ‘Grexit', might be the single most negative outcome for the Euro, and ECB Vice-President Vitor Constancio, pointedly observed that default doesn't automatically imply exit.” “Meanwhile, as the government scrambles around for cash, there is much talk of Greece introducing a parallel currency.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 21,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! -
OctaFX.Com - Financial News and Analysis
OctaFX_Farid replied to OctaFX_Farid's topic in Technical Analysis
Greece crisis: Riga summit expected to be a non-event – TDS FXStreet (Barcelona) - The TD Securities Team comments on the recent developments concerning Greece, and further notes that this week’s Eurogroup summit is likely to be a non-event in delivering a EU-Greece agreement. Key Quotes “Headlines confirmed our suspicions that the market and Greek leaders have been too complacent in thinking the ECB would continue to provide ELA funding uninterrupted. There is reportedly an increasing minority of ECB Governors opposed to Greek ELA, and while it requires a two-thirds vote to turn it off, the staff has now prepared various options for increasing the haircuts on ELA lending.” “With the Greek government backtracking on pension and public sector employment reform yesterday, it still seems this week’s Summit in Riga will be a non-event in delivering a deal and May 11-12 is now set as the potential make-or-break deadline with the next Eurogroup and IMF repayment due then.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 21,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! -
OctaFX.Com - Financial News and Analysis
OctaFX_Farid replied to OctaFX_Farid's topic in Technical Analysis
GBP/USD looking bearish – Varengold FXStreet (Barcelona) - The Varengold Bank Research Team gives the technical outlook for GBP/USD using daily charts. Key Quotes “.. the GBPUSD has reached a significant resistance, after seven days of gains in a row. This level coincides with the top side of an uptrend channel in the RSI, anticipating a bearish movement, where the previous lows seem the support to take into consideration. Above the current price, the mentioned 1.4980 resistance looks tough to be broken at first.” “Support Levels around 1.4568” “Resistance Levels around 1.4980” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 21,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! -
OctaFX.Com - Financial News and Analysis
OctaFX_Farid replied to OctaFX_Farid's topic in Technical Analysis
USD/JPY hits a fresh 1-week high FXStreet (Córdoba) - The US dollar strengthened across the board after Wall Street opening bell and pushed to the upside the USD/JPY pair that rose from 119.40 to 119.83, hitting the strongest level since April 14. Currently trades at 119.65, up 0.40% for the day, headed toward the second daily gain in row as it continues to recover from 118.53, the 3-week low that reached yesterday. The yen dropped across the board during the last two hours as US stocks opened mixed. The Dow Jones index was falling 0.13% while the Nasdaq was rising 0.47%. USD/JPY short term technical levels To the upside, immediate resistance lies at 119.80/85 (daily high), 120.00 and 120.40/45. On the opposite direction, support might now be located at 119.50, 119.30 (European session low) and 119.10/15 (daily low). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 21,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! -
OctaFX.Com - Financial News and Analysis
OctaFX_Farid replied to OctaFX_Farid's topic in Technical Analysis
RBA might hold rates steady, go long AUD/USD – Growth Aces FXStreet (Barcelona) - The Growth Aces Research Team expects RBA to maintain a neutral bias in May, which is against market expectations for a rate cut, and might support AUD gains. Key Quotes “The RBA cut interest rates to a record low of 2.25% in February, but the central bank surprised many analysts by skipping further moves at its policy meetings in March and April. The next RBA meeting is scheduled for May 5 and financial markets expect a rate cut. Futures markets imply around a 50% chance of a quarter-point easing in May, rising to nearly 90% in June.” “In our opinion the RBA may surprise the market and keep rates on hold which will support the AUD.” “There were no major changes in the RBA language but the AUD/USD fell significantly after Stevens’ comments. Moreover, investors expect soft CPI figures on Wednesday (1:30 GMT) adding to pressure on the AUD.” “We got long on AUD/USD at 0.7730 and AUD/JPY at 91.80. The longs could be in trouble in case of weaker CPI reading. The nearest support levels is 0.7673, daily low on April 16.” “Resistance: 0.7736 (55-dma), 0.7798 (hourly high Apr 20), 0.7844 (high Apr 20)” “Support: 0.7673 (low Apr 16), 0.7600 (psychological level), 0.7573 (low Apr 15)” “AUD/USD: long at 0.7730, target 0.7950, stop-loss 0.7620” “AUD/JPY: long at 91.80, target 94.00, stop-loss 90.80” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 21,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! -
OctaFX.Com - Financial News and Analysis
OctaFX_Farid replied to OctaFX_Farid's topic in Technical Analysis
EUR/JPY likely to test 126 in the near-term – FXStreet FXStreet (Barcelona) - FXStreet Editor and Analyst, Dhwani Mehta, sees risk for EUR/JPY being tilted to the downside, anticipating a move lower towards 126 on a break below 126.80. Key Quotes “Technically, on the daily chart, EUR/JPY continues to trade in a short-term downtrend channel, with cross finding good support at 126 levels. On the same chart, the cross remains below all its moving averages indicating persistent underlying weakness.” “Moreover, the pair broke below the crucial 10-DMA located at 127.70, which triggered a fresh sell-off, knocking-off EUR/JPY to session lows at 127.46.” “Currently, the cross continues to trade around the 10-DMA support-turned resistance indicating more room for declines. The daily RSI at sub 40 remains in the bear range and aims lower, also supporting the case for further downside in the making.” “Greece crisis is likely to be the dominating theme in the week ahead with the shared currency expected to remain pressured across the board. This may support the case for EUR/JPY to retest of 126 levels in the near term.” “The pair is likely to find a good support at 126.80, below which EUR bears may take over, driving EUR/JPY to 126 handle.” “However, a failure to breach 126.80 levels, the pair may rebound to 128.70 resistance zone.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 21,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! -
OctaFX.Com - Financial News and Analysis
OctaFX_Farid replied to OctaFX_Farid's topic in Technical Analysis
EUR/CHF has met the 1.0255/50 target – Commerzbank FXStreet (Barcelona) - Karen Jones, Head of Technical Analysis at Commerzbank, notes EUR/CHF failing to hold the 1.0255/60 zone might lead to further losses towards 1.00. Key Quotes “EUR/CHF has met the 1.0255/50 target. We note the TD perfected set up on the daily chart and would recommend if not already done so, exiting shorts. The 1.0250/55 zone represents the January 16 high and the 50% retracement.” “We expect this to hold the initial test, but if not, this is also regarded as the break down point to 1.00.” “A downward bias will be maintained while EUR/CHF trades below the resistance line at 1.0556.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 21,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! -
OctaFX.Com - Financial News and Analysis
OctaFX_Farid replied to OctaFX_Farid's topic in Technical Analysis
EUR/USD struggling to regain 1.0700 – FXStreet FXStreet (Barcelona) - EUR/USD has recovered from the daily low at 1.0659, but requires a break above 1.0715 to confirm additional gains, explains Valeria Bednarik, Chief Analyst at FXStreet. Key Quotes “The EUR/USD pair recovered from a daily low set at 1.0659 in the European morning, following market comments about the ECB studying a way to limit financial aid to Greece.” “In Germany, the ZEW survey for April showed that the local Economic Sentiment fell for the first time since October 2014, down to 53.3 from previous 54.8. In the EZ however, Economic Sentiment improved above expected in the same month. There are no relevant fundamental readings scheduled for the US, with the market then probably continue trading on sentiment.” “Short term, the 1 hour chart shows that the price stands below the 38.2% retracement of its latest bearish run at 1.0715, the immediate resistance, whilst the 20 SMA heads lower around it. In the same chart, the technical indicators are bouncing from their oversold levels but remain below their mid-lines, which suggest some follow through above the mentioned level is required to confirm additional advances.” “In the 4 hours chart the Momentum indicator heads lower below 100 whilst RSI indicator stands flat around 48.” “Support levels: 1.0680 1.0640 1.0590” “Resistance levels: 1.0715 1.0745 1.0775” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 21,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! -
OctaFX.Com - Financial News and Analysis
OctaFX_Farid replied to OctaFX_Farid's topic in Technical Analysis
Grexit risk being priced in – MP FXStreet (Barcelona) - Dean Popplewell, Director of Currency Analysis at MarketPulse, comments that markets believe the ECB is preparing to subtly apply further pressure on Greece banks, while on the other side a Grexit risk is being priced in as uncertainty related to a EU-Greece agreement increases. Key Quotes “Interested parties are trying to get Greece to conform to creditors demands. There are currently two avenues of pressures on Greece to force them into fulfilling said demands. There is firstly via the banking system, and second via the liquidity situation of the government. By the latter, the Greek government has more control. The markets saw that yesterday when the Greek government issued various decrees for local government cash balance to be deposited in the Central Bank for government use.” “It’s the funding of the banking system that Greece has no control over. That’s dependent on the ECB’s role as “lender of last resort” through the use of ELA (Emergency Liquidity Assistance).” “The market now believes that ECB staff is preparing a proposal to subtly apply further pressure. They could do this by increasing haircuts on Greek bank collateral offered for ELA.” “The Eurogroup require a Greek reaction, as a member they are required to fulfill all protocols and not just back away from responsibility. Applying subtle pressure hopefully will garner a positive reaction. To date it has not and time is running out as the uncertainty over how Greece and its creditors will come to an agreement has led the market to continue to price in a rising risk of Grexit.” “The Greek yield curve continues to invert (short yields rise faster than long would suggest default).” “The question and answer yet to be discussed in detail is if a default and exit does become a reality, will the ECB’s QE limit contagion?” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 21,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! -
OctaFX.Com - Financial News and Analysis
OctaFX_Farid replied to OctaFX_Farid's topic in Technical Analysis
EUR/HUF back to lows near 297.00 FXStreet (Edinburgh) - The Hungarian forint is now depreciating further vs. the single currency on Tuesday, dragging EUR/HUF to re-visit session lows near 297.00. EUR/HUF weaker post-NBH The cross saw its downside renewed after the NBH surprised markets by lowering its refi rate to 1.80% from 1.95% in today’s meeting. Recall that market consensus was expecting the central bank to remain on hold. The cross is retreating for the second consecutive session so far, trading in 5-day lows near the 297.00 handle. EUR/HUF key levels At the moment the cross is losing 0.27% at 297.25 with the next support at 296.74 (low Jan.2 2014) ahead of 295.29 (low Apr.15) and then 295.17 (low Dec.31 2013). On the upside, a break above 300.49 (high Apr.6) would expose 301.98 (high Apr.20) and finally 302.64 (high Apr.17). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 21,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! -
OctaFX.Com - Financial News and Analysis
OctaFX_Farid replied to OctaFX_Farid's topic in Technical Analysis
USD/JPY: Gains capped by weak Treasury yields FXStreet (Mumbai) - The USD/JPY pair has pared gains to trade at 119.34 levels, after having hit a high of 119.78 levels. The weakness in the US treasury yields is supporting the Japanese Yen. Yen gains as 10-year treasury yield falls The 10-year yield in the US fell three basis points to 1.867%, while the 30-year yield declined more than three basis points to 2.538%. Consequently, the Japanese Yen, which tracks Treasury prices, recovered losses against the USD. Moreover, the safe haven assets are showing signs of strength ahead of the US session on concerns over the lack of an agreement on economic reforms for bailout funds between Greece and its creditors. The pair could extend the drop if the treasury yields continue to slide ahead in the data. USD/JPY Technical Levels The immediate support is located at 119.26 (100-DMA), under which losses could be extended to the previous session’s low of 118.52. On the flip side, a break above 119.42 (5-DMA) could drive the pair higher to its 50-DMA located at 119.91. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 21,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! -
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OctaFX.Com - Financial News and Analysis
OctaFX_Farid replied to OctaFX_Farid's topic in Technical Analysis
DXY down from 98.00 FXStreet (Edinburgh) - The US Dollar Index, which gauges the greenback vs. its main competitors, is now deflating from session highs just above the 98.00 handle. DXY keeps gains The index remains on track to extend the recovery from last week’s deep pullback to the 97.00 area, although today’s upside momentum run out of legs above the 98.00 mark. Nothing relevant in terms of data releases in the US economy, with only the Chicago Fed National Activity Index dropping to -0.42 for the month of March. In the meantime, Greek jitters appear to be the main driver behind the risk-off trade, as markets shifter their focus on the Eurogroup meeting on Friday. DXY relevant levels The index is now advancing 0.24% at 97.75 with the next hurdle at 98.66 (high Mar.31) ahead of 99.18 (high Apr.9) and then 99.36 (high Apr.15). On the other hand, a breakdown of 97.00 (low Apr.17) would target 96.93 (low Apr.7) en route to 96.33 (low Apr.6). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 20,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! -
OctaFX.Com - Financial News and Analysis
OctaFX_Farid replied to OctaFX_Farid's topic in Technical Analysis
USD/CNY further downside lies ahead – Danske Bank FXStreet (Edinburgh) - Senior Analyst at Danske Bank Flemming Nielsen sees the pair grinding lower in the medium term. Key Quotes “It is still our view that China will not allow the CNY to depreciate substantially despite data suggesting that growth continued to slow in early 2015”. “In our view, CNY remains well supported by an increasing trade balance surplus in the wake of a sharp decline in import prices and China’s relatively closed capital account, which limits capital outflow”. “China’s ambition to have CNY included in the SDR later in 2015 also suggests that China will probably not rock the boat ahead of a decision”. “We still expect a moderate depreciation of CNY within the current trading band and we have revised our forecasts for USD/CNY lower for 1M and 3M in light of faster than expected appreciation of the CNY over the past month”. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 20,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! -
OctaFX.Com - Financial News and Analysis
OctaFX_Farid replied to OctaFX_Farid's topic in Technical Analysis
EUR/GBP: Stalling through the pivot on 0.72 handle FXStreet (Guatemala) - EUR/GBP is currently trading at 0.7216 with a high of 0.7245 and a low of 0.7185. EUR/GBP has seen some two way traffic but has been overall better bid and scoring the high recently having worked its way out of bearish territory on the 0.71 handle and now through the pivot on the 0.72 handle. The euro is resilient and has performed gains across the board at the start of the week while the calendar is relatively quiet up ahead for the EZ. From the UK this week, however, we have BoE Minutes on Wednesday, Retail Sales on Thursday, and the Election Campaign that is ongoing. Technically,Karen Jones, chief analyst at Commerzbank suggests that only if a rise and daily chart close above the 0.7408 January low were to be made, there could be room for further upside towards the 0.7500 region to be seen. "Currently we view the low at 0.7015 as an interim low and look for some stabilisation and recovery short term." OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 20,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! -
OctaFX.Com - Financial News and Analysis
OctaFX_Farid replied to OctaFX_Farid's topic in Technical Analysis
USD/JPY extends gains above 119.00 FXStreet (Córdoba) - USD/JPY gained momentum during the American session and broke above 119.15. The pair printed a fresh daily high at 119.35, hitting the highest level since last Thursday. The pair is rising for the first time after posting losses during the previous six trading days. The US dollar was able to make a reversal after falling earlier to 118.52 (3-week low). From the lows it has risen 80 pips as stocks in Wall Street rise more than 1% on average. USD/JPY near important short term resistance The recent rally brought the pair near the 119.40 area, that is an important short term resistance, that capped the upside several times last week. Above here the next resistance could be located at 119.70 (Apr 13 low) and 120.00. On the opposite direction support might lie at 118.75, 118.55 (daily low) and 118.30/35 (March 26 low). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 20,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! -
OctaFX.Com - Financial News and Analysis
OctaFX_Farid replied to OctaFX_Farid's topic in Technical Analysis
Japan leaves economic assessment unchanged, going short on USD/JPY – Growth Aces FXStreet (Barcelona) - The Growth Aces Research Team comments on the key developments in the Japanese market, and further maintains a bearish outlook on USD/JPY, targeting 117.20 levels. Key Quotes “Japan's government kept its overall assessment of the economy unchanged on Monday, noting a moderate recovery trend as factory output is picking up on the back of improving corporate activity. In its monthly economic report, the government also kept unchanged its assessment of consumer spending, capital expenditure and exports, as the economy stabilises after a recession unexpectedly caused by a sales tax hike last April.” “The report comes ahead of a closely watched Bank of Japan meeting on April 30 where the central bank will update its forecasts for consumer prices and inflation.” “Bank of Japan Governor Haruhiko Kuroda said on Sunday that financial markets could be surprised if the central bank hits its 2% inflation target in 2016 and interest rates in Japan start to rise as a result.” “Kuroda said the BOJ expects inflation in Japan to gradually accelerate later this year as the impact of lower oil prices becomes less of a factor in the data.” “The monthly Tankan survey showed that confidence among Japanese manufacturers slid for the first time in three months in April. Sentiment index for manufacturers fell to 12 in April from 16 in the prior month. However, the service-sector index rose to 25 from 21 in March, led by sectors such as retailers, real estate, construction and information, communications.” “We are looking to go short on the USD/JPY at 119.35. If the order is filled, the target will be 117.20.” “Resistance: 119.26 (high Apr 17), 119.48 (high Apr 16), 119.62 (21-dma)” “Support: 118.53 (session low Apr 20), 118.33 (low Mar 26), 118.30 (low Feb 20)” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 20,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! -
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OctaFX.Com - Financial News and Analysis
OctaFX_Farid replied to OctaFX_Farid's topic in Technical Analysis
NZD/USD: Neutral RSI, positive postion on charts FXStreet (Guatemala) - NZD/USD is currently trading at 0.7676 with a high of 0.7698 and a low of 0.7577. NZD/USD has given ground back to the bears but, on the charts positioning the bird is still well within positive territory, surfing along the highs for April. US data today was a near miss on the CPI's, slightly higher core mind you, and determined as ultimately in line and positively on track. Favourable consumer confidence result in the Reuters/Michigan sentiment index. With it being weekend, positions getting squared up will be pulling in the dollar somewhat also. Technically, however we are in to neutral territory readings, with RSI (14) on the hourly chart reading at the mid point. Imre Speizer expects, over a three mont term, that the bird will drop back lower to at least 0.72 . "NZ economic data should soon reflect a mid-year dip. Importantly, CPI is expected to be below zero for Q1 when it is released on 20 April. Then on 30 April, the RBNZ is likely to note concern regarding the high trade-weighted NZD (second chart). Q1 GDP (released in June) should also be weak (drought effects). While NZ economic data softens during the next few months, US economic data is poised to surprise positively". OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 17,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! -
OctaFX.Com - Financial News and Analysis
OctaFX_Farid replied to OctaFX_Farid's topic in Technical Analysis
USD/JPY fails to sustain gains FXStreet (Córdoba) - USD/JPY eased from daily highs and briefly dropped below the 119.00 level following the latest string of mixed US data data. The Reuters/Michigan Consumer Sentiment Index rose to 95.9 in April, according to the preliminary estimate, beating expectations of 94. However, the CB leading index rose 0.2% in March, below the 0.3% expected, with the weakest component being building permits. USD/JPY dropped to a session low of 118.90 before finding support. The pair had scored a daily high of 119.25 underpinned by US CPI data but the dollar was unable to keep the buying interest for long. At time of writing, dollar-yen is trading at 119.03, virtually unchanged on the day. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 17,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! -
OctaFX.Com - Financial News and Analysis
OctaFX_Farid replied to OctaFX_Farid's topic in Technical Analysis
GBP/USD might consolidate – FXStreet FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet, notes technicals suggest that GBP/USD might see some consolidate above 1.4950 levels. Key Quotes “The British Pound surged above the 1.5000 figure for the first time in a month, as UK's employment data showed that the unemployment rate fell to its lowest in almost seven years, while wages ticked higher, and the number of people in employment rose by 248K in the 3 months ending February.” “Having set a daily high at 1.5053, the pair is now hovering around the 1.5000 figure on the back of US's inflation readings, and with the 1 hour chart showing that the technical indicators are correcting lower from overbought levels, albeit the price remains well above a bullish 20 SMA, limiting chances of a strong decline.” “In the 4 hours chart the price stands well above its 200 EMA, currently at 1.4910, while the technical indicators are beginning to look exhausted near overbought levels, all of which supports a limited at least some consolidation above 1.4950, ahead of a new leg up.” “Support levels: 1.4950 1.4910 1.4880" “Resistance levels: 1.5000 1.5040 1.5085” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 17,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! -
OctaFX.Com - Financial News and Analysis
OctaFX_Farid replied to OctaFX_Farid's topic in Technical Analysis
Shifting risks to global financial stability – BNPP FXStreet (Barcelona) - Yves Nosbusch of BNP Paribas, comments on the new and ‘rotating’ risks to global financial stability, as highlighted in IMF’s Global Financial Stability Report. Key Quotes “A day after the publication of the World Economic Outlook on 14 April 2015, the IMF has released the latest version of its Global Financial Stability Report (GFSR). The world economy has been hit by three major shocks over the last few months: the fall in the oil price as well as many other commodity prices, significant exchange rate movements for the main currencies, and the start of Quantitative Easing by the European Central Bank.” “The fall in commodity prices and the sharp appreciation of the dollar have shifted risks from advanced economies to emerging markets, particularly commodity exporters and those sectors/countries that have accumulated significant levels of dollar-denominated debt.” “While the World Economic Outlook concluded that these shocks were positive overall for global growth, the GFSR stresses the point that they have also increased risks to global financial stability.” “More specifically, risks to global financial stability have shifted along three main dimensions: from advanced to emerging economies, from banks to non-banks, and from solvency to liquidity issues.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 17,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! -
OctaFX.Com - Financial News and Analysis
OctaFX_Farid replied to OctaFX_Farid's topic in Technical Analysis
Central banks take action for a possible Greek contagion – TradeTheNews FXStreet (Barcelona) - The TradeTheNews Team comments on the key developments surrounding Greece, noting that Greece banking units overseas have been asked to exit any Greek sovereign debt. Key Quotes “Greece banking units overseas said to have been asked to exit Greek sovereign debt. Central banks in southeastern European countries (in cooperation with the ECB) had given the instructions. The order relates to Greek government bonds and T-bills and also relates to deposits in parent Greek banks and loans to lenders based in Greece. The move by the central banks was aimed at supporting their national banking systems if there was a Greek accident or contagion.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 17,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker!