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OctaFX.Com - Financial News and Analysis
OctaFX_Farid replied to OctaFX_Farid's topic in Technical Analysis
Eurozone PMI complements the improving tone for the economy – BBH FXStreet (Barcelona) - Reviewing today’s Euro area data release, the Brown Brothers Harriman Team mentions that the above consensus Eurozone composite PMI print at 54.1 complements the improving tone of the economy. Key Quotes “The general improving tone in the euro area continued before the ECB launched its more aggressive asset purchase program. The composite March reading was at a new cyclical higher of 54.1.” “After a soft patch last year, the German economy has accelerated. The manufacturing PMI (flash) rose to 52.4 from 51.1. The consensus was for 51.5. Services rose to 55.3 from 54.7. This was also a bit better than expected." “France showed a mixed picture. The manufacturing PMI rose to 48.2 from 47.6but was slightly lower than expected. The service sector slipped to 51.7 from 52.2.” “In general, the decline in interest rates, oil, and the euro should see the regional economy gain better traction.” “The euro has tested the $1.10 level. The post-FOMC high was set near $1.1045. Look for a break of this to signal the next leg up in what we continue to regard as corrective gains. Initial support is seen ahead of the 20-day moving average which comes in near $1.0885 now." OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 24,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! -
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OctaFX_Farid replied to OctaFX_Farid's topic in Technical Analysis
Mexico 1st half-month Inflation: 0.18% (March) vs 0.11% Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 24,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! -
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OctaFX_Farid replied to OctaFX_Farid's topic in Technical Analysis
June remains fit for a possible Fed hike – RBS FXStreet (Barcelona) - William O'Donnell, Head of US Treasury Strategy at RBS, comments on the recent Fed member speech, and views that June 17th remains a possible time for Fed to begin its rate hike plan. Key Quotes “Bullard and Williams both spoke with a common theme last night; stating a case that Michelle Girard has made recently. Both regional Fed Presidents appear to be really itchy to get off the zero bound soon.” “Bullard frets about possible asset price bubbles if rates are left near zero while Williams seems to be taking dollar strength somewhat in stride saying, as Fed VC Chair Fischer argued yesterday, that the strength of the dollar reflects the stronger economy here versus elsewhere.” “But both Williams and Bullard noted that even as rates rise, monetary policy will still remain accommodative given, among other things, the stock level of the Fed's balance sheet. This is just the point that Michelle has argued when defending her team's September lift-off call.” “We all view Williams as a key, 'semi-core' FOMC participant so I guess the upshot is that June 17th remains a possible lift-off date even though market implied timing is out to October after Janet's presser last week.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 24,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! -
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OctaFX_Farid replied to OctaFX_Farid's topic in Technical Analysis
EM currencies recovering vs. USD – JP Morgan FXStreet (Edinburgh) - Analysts at JP Morgan remarked the positive performances of currencies in the EM space following the recent USD softness. Key Quotes “The consolidation of the broad dollar over the week offered some respite for EM currencies, though most underperformed the euro”. “EMEA EM currencies notably led the pack, with RUB, HUF, PLN, RON and ZAR appreciating by at least 3% versus the dollar, and even outperformed the euro between 0.2-0.6%”. “Meanwhile, EM FX underperformers over the week included PHP and MYR, which weakened 1.3-1.5% versus the dollar, fading the post-FOMC rally as the dominant driver for Asian currencies remains policy, and central banks are likely to capitalize on any delays in the beginning of a Fed lift-off to implement further currency weakening, whether through direct intervention or additional rate cuts”. “Indeed, while several Asian FX markets saw modest appreciation versus the dollar over the week, none strengthened versus the euro. Outside of EM Asia, BRL and PEN also ranked among underperformers”. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 24,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! -
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OctaFX_Farid replied to OctaFX_Farid's topic in Technical Analysis
Continue to expect medium-term gradual depreciation in RMB – JPM FXStreet (Barcelona) - The Team at J.P.Morgan, maintains their medium-term depreciation view on RMB as China’s growth slows down, and further anticipate USD/CNY to drift higher towards 6.40 by year-end. Key Quotes “We maintain our medium-term depreciation view on RMB, reflecting China’s slowing growth, rising capital outflows and risk of competitive depreciation from Euro, Yen and other major EM currencies. CNY REER has appreciated by 3.8% YTD, following 6.5% appreciation in 2H14.” “….concern on RMB valuation remains widespread especially considering potential more monetary easing from ECB and BoJ this year.” “The recent downside surprises in China economic data also highlight that capital outflow risk will continue to be reinforced, not only reflecting the expectation of diverging China-US monetary policy cycle, but deteriorating average investment return in a broad sense. This may drive the capital outflows to shift to a more structural bias from current cyclical outflows.” “We still expect the USD-CNY trading band to gradually drift higher in the coming quarters and likely widen before the end of the year, and for USD-CNY to end the year higher at 6.40.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 24,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! -
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OctaFX_Farid replied to OctaFX_Farid's topic in Technical Analysis
EUR/USD challenges lows near 1.0920 FXStreet (Edinburgh) - The single currency is now losing the grip vs. the US dollar, relegating EUR/USD to test the lower bound of the daily range around 1.0920/15. EUR/USD softer post-US data The pair is coming down from session highs beyond 1.1030 following higher than expected inflation figures in the US economy during the last month. Adding to the current wave of USD-buying, the US manufacturing PMI gauged by Markit surpassed both forecasts and previous print for the current month, coming in at 55.3 while New Home Sales increased by 539K (or 7.8%) from January to February vs. 470K previously estimated. EUR/USD important levels The pair is now losing 0.22% at 1.0921 and a break below 1.0909 (21-d MA) would open the door to 1.0780 (100-h MA) and then 1.0768 (hourly low Mar.23). On the other hand, the immediate hurdle lines up at 1.1062 (high Mar.18) ahead of 1.1115 (high Mar.5) and then 1.1123 (61.8% of 1.1534-1.0457). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 24,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! -
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OctaFX_Farid replied to OctaFX_Farid's topic in Technical Analysis
GBP/USD break below 1.4850 to target 1.4770 – FXStreet FXStreet (Barcelona) - According to Valeria Bednarik, Chief Analyst at FXStreet, GBP/USD might extend its decline towards the support at 1.4770 if the pair breaks below the immediate support at 1.4850. Key Quotes “The pair has been trading quite rage bound ever since the day started, although the greenback seems ready to extend its advance in the short term, as the 1 hour chart shows that the price is unable to overcome its 20 SMA, whilst the technical indicators aim lower below their midlines.” “In the 4 hours chart hover, the price is still holding above a flat 20 SMA, whilst the technical indicators turning lower, but still above their midlines.” “A break through 1.4850 the immediate support, should lead to a stronger decline, which can extend down to the 1.4770 support.” “Support levels: 1.4850 1.4810 1.4770” “Resistance levels: 1.4925 1.4950 1.5000” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 24,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! -
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OctaFX_Farid replied to OctaFX_Farid's topic in Technical Analysis
EUR/USD might see further declines below 1.0920 – FXStreet FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet, shares the technical outlook for EUR/USD, noting that the pair might see additional declines if it breaks below the immediate short-term support at 1.0920. Key Quotes “The EUR/USD surged to 1.1002 following the release of strong Manufacturing and Service figures across Europe confirming the sense the area is growing lately. Nevertheless, the pair was unable to break above the critical psychological figure, also the 50% retracement of these last two months decline.” “US inflation data ticked slightly higher in February, up 0.2% as expected, whilst excluding food and energy, the year-to-year figure rose above forecasted up to 1.7%. Still subdued, the initial market reaction saw the EUR/USD diving down to 1.0936 before quickly bouncing up to a fresh daily high of 1.1029, before regaining the downside.” “Early in the US session, the pair is under selling pressure, and the 1 hour chart shows that the price is breaking below its 20 SMA, whilst the technical indicators head lower around their midlines.” “In the 4 hours chart the technical indicators are retracing from extreme overbought levels, supporting some further declines, particularly on a break below 1.0920 the immediate short term support.” “Support levels: 1.0920 1.0890 1.0865“ “Resistance levels: 1.0955 1.1000 1.1040” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 24,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! -
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OctaFX_Farid replied to OctaFX_Farid's topic in Technical Analysis
NBH cuts 15bp and likely initiates a short easing cycle - TDS FXStreet (Barcelona) - With NBH cutting rates by 15bp, Cristian Maggio, Head of Emerging Markets Strategy at TD Securities, feels that this is just the beginning of a short easing cycle, further predicting 30bps cuts in upcoming meetings. Key Quotes “In line with the nearly unanimous consensus expectations, the National Bank of Hungary (NBH) cut the base rate today. However, differently from the median of expectations and our forecast, both looking for a 20bp cut, the Bank announced a cut of 15bp, which we think is preparatory to further easing down the line.” “The EURHUF dropped by 0.3% seconds after the announcement as the market was positioned for a cut today, while 1yr IRS remained nearly unchanged at around 1.79%. The pair is currently trading at 302.” “We expect another 30bp of easing in total at the two upcoming meetings. The market seems to be priced for an easing cycle of 50bp by August, which suggests a very slow pace. But this also suggests that a moderately dovish message should be fully priced in.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 24,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! -
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OctaFX_Farid replied to OctaFX_Farid's topic in Technical Analysis
GBP to gain ground against EUR and JPY by year-end – Scotiabank FXStreet (Barcelona) - Camilla Sutton CFA, CMT, Chief FX Strategist at Scotiabank, views that election uncertainty might make the near-term outlook for GBP cloudy, but the pound might gain ground against EUR and JPY, and stabilize against USD by 2015-end. Key Quotes “GBP is flat to yesterday’s close, being supported by ongoing broad USD weakness, which has helped to offset disappointing inflation data. February’s CPI dropped to 0%y/y on headline and 1.2%y/y on core; however there was a slight upside surprise on RPI.” “Still the combination of low oil and food prices is suppressing inflationary pressures in the U.K., with few signs that currency depreciation to date is adding materially to inflation.” “The risks remain that inflation turns negative before reversing later this year.” “With low inflation, election uncertainty and vulnerable BoE pricing, we are cautious over the near‐term outlook for GBP; however into year‐end and 2016 we expect GBP to stabilize against the USD and gain ground against EUR and JPY.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 24,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! -
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OctaFX_Farid replied to OctaFX_Farid's topic in Technical Analysis
Euroarea PMIs confirm stronger growth in 2015 - Danske FXStreet (Barcelona) - Senior Analyst at Danske Bank, Pernille Bomholdt Nielsen, reviews the Eurozone manufacturing and services PMI data release. Key Quotes “Manufacturing PMI increased from 51.0 in February to 51.9 in March and is now at the highest level since May 2014 (consensus 51.5, Danske Bank Markets 52.0). The details behind the improvement were good and suggest further progress in coming months.” “The increase is due to higher new orders, which rose from 51.0 in February to 52.2 in March mainly driven by domestic demand as new export orders increased less.” “Stocks of finished goods continued to decline, which means the orderinventory balance suggests further improvement in the manufacturing PMI going forward. It currently signals that PMI manufacturing will increase to around 55.0.” “The higher manufacturing PMI likely reflects stronger domestic demand in the euro area as uncertainty fades, while exporters benefit from the weaker euro” “Service PMI increased from 53.7 in February to 54.3 in March and is now at the highest level since mid-2011 (consensus 53.9, Danske Bank Markets 53.9).” “The continued increase in the service PMI likely reflects the boost to private consumption from the lower oil price.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 24,2015 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
USD/JPY extends decline to 119.60 FXStreet (Tokyo) - The US dollar is extending its decline versus the Japanese Yen and after falling 60 pips from the 120.15 priced in the European morning, the USD/JPY is now testing daily lows at 119.60. Currently, USD/JPY is trading at 119.64, down 0.32% on the day, having posted a daily high at 120.18 and low at 119.58. The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is slightly bearish. USD/JPY Forecast Leading analyst at FBS Elizaveta Belugina affirmed in the USD/JPY Forecast Poll that "although the medium-term outlook is positive, right now USD/JPY has few drivers for a decisive growth." On the other hand, Anil Panchal from Admiral Markets commented that the USD/JPY continues "maintaining the ascending trend channel, signaling an up-move. But the gains are restricted till 122.30." US dollar to Yen exchange rate levels If the pair manages to break below 119.60, it will find next supports at 119.30, 119.00 and 118.80. To the upside, resistances are at 119.80, 119.90 and 120.15. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 23,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! -
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OctaFX_Farid replied to OctaFX_Farid's topic in Technical Analysis
European Monetary Union Consumer Confidence above expectations (-5.95) in March: Actual (-3.7) Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 23,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! -
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OctaFX_Farid replied to OctaFX_Farid's topic in Technical Analysis
Recent events in Europe bullish for Gold – Sunshine Profits FXStreet (Barcelona) - Arkadiusz Sieroń of Sunshine Profits, explains that the possibility of Euro decline and the ongoing negative rate scenario is bullish for the saven haven asset Gold. Key Quotes “Negative deposit rates also impose some costs on banks, which may lower their profitability and even aggravate the problem of sluggish lending. Another important effect is the increase of a relative attractiveness of investing in alternatives, such as gold or Treasury bonds.” “This is exactly what we are seeing right now. According to Bloomberg, in Switzerland, “investors are buying more gold as an alternative to hold Swiss franc cash deposits”.” “Investors are eager to pay for holding safe assets, because they fear the collapse of the euro. You can think about such a deal as a currency playing or buying an option. Investors pay the premium, but when the Eurozone breaks up, they would hold gold, Swiss francs or bonds of the relative rich and stable northern countries like Germany, Denmark or Finland.” “The recent events in Europe seem to be bullish for the gold market. The Eurozone crisis will come sooner or later. Investors predict rather sooner, at least drawing conclusions on the basis of the level of yields on Treasuries.” “The central banks introducing negative interest rates and implementing quantitative easing (the Riksbank and the ECB), show that a global slowdown is on the horizon.” “As we constantly repeat, gold is historically the best asset class during slowdowns. The safe haven demand (remember that the Swiss franc, which is traditionally considered as a safe haven currency, is now relatively less attractive) and very low real interest rates would also positively contribute to the prices of gold.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 23,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! -
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OctaFX_Farid replied to OctaFX_Farid's topic in Technical Analysis
EM central bank decisions ahead in the week – TDS FXStreet (Edinburgh) - Strategists at TD Securities reviewed this week’s central banks’ meetings in the EM space. Key Quotes “The National Bank of Hungary (NBH) is to announce rates on Tuesday, and we expect the NBH to cuts its policy rate by 20bps to 1.9%, resuming easing after rates were cut the last time in July 2014”. “Although growth data remains robust, continuing deflation means there is a risk that the NBH fails to reach its 3% inflation target in the medium term unless rates are cut”. “We expect tomorrow’s cut to be followed by 30bps of further cuts (20bps + 10bps), bringing the easing cycle to an end”. “On Thursday, we expect both Mexico’s Banxico and South Africa’s SARB to stay put at 3.00% and 5.75%, respectively, which is in line with consensus expectations”. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 23,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! -
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OctaFX_Farid replied to OctaFX_Farid's topic in Technical Analysis
S&P upgrades Hungary’s rating, but ECB QE might offset its positive impact – KBC FXStreet (Barcelona) - The KBC Bank Research Team notes that with S&P upgrading Hungary’s rating by on notch to BB+, the positive impact of the rating could be offset by ECB’s QE and a probable rate cut in the country. Key Quotes “The CE currencies were generally under a modest pressure on Friday. In the end of the session, the forint was supported by an upgrade of Hungary’s credit rating by one notch to BB+ (with stable outlook) by S&P but the gains were rather limited.” “The improved credit rating could support Hungarian assets in months to come, especially towards the backdrop of ongoing QE in the euro zone.” “On the other hand, a rising probability of interest rate hike in the US and likely rate cut in Hungary (we expect the NBH to cut rates by 20 bps on Tuesday) could eventually offset the positive impact of the rating upgrade and ECB’s QE.” “From this perspective, a new forecast that is to be released this week will be of key importance. If the inflation forecast for the next year was below 2 %, it could trigger a more dovish attitude of the NBH. This is, however, not our base scenario.” “We expect inflation forecast above that level and therefore see rather cautious and gradual rate cut cycle.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 23,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! -
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OctaFX_Farid replied to OctaFX_Farid's topic in Technical Analysis
Growth is gaining momentum – ECB’s Draghi FXStreet (Mumbai) - The European Central Bank President, Mario Draghi, in his testimony before the European Parliament’s Economic and Monetary Affairs committee, said that the growth is gaining momentum in the Eurozone. The momentum is mainly driven by a fall in oil prices, firming of external demand, easy financing conditions due to loose monetary policies, and due to depreciation of the Euro. Draghi said the upbeat economic view is clear from the ECB projections, which were visibly revised upwards. On Inflation, the President said it is expected to remain low or negative in the months ahead. However, inflation expected to start rising by year end, due to higher aggregate demand, lower Euro and recovery of oil prices. Draghi also said that the central bank sees an ample supplies of bonds, squashing fears of availability of bonds for its monthly EUR 60 billion QE program. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 23,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! -
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OctaFX_Farid replied to OctaFX_Farid's topic in Technical Analysis
Fed could now hike in September – Danske Bank FXStreet (Edinburgh) - In light of the last FOMC meeting, analysts at Danske Bank now see the Fed to start hiking in September (from June). Key Quotes “FOMC members have in general expressed a preference to err on the side of caution and tighten too late rather than too early. The revisions to the projected fed funds rate path at the FOMC meeting clearly showed that this remains the case”. “This means that the bar for a June rate hike has increased. We will not only need to see strong labour market data but also a rebound in activity data and signs of stabilisation in core inflation or a pickup in wages”. “This is still not impossible with three months of data left before June, but the odds that the FOMC will wait a few more months before lift-off have increased significantly”. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 23,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! -
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OctaFX_Farid replied to OctaFX_Farid's topic in Technical Analysis
Yellen acknowledged that USD strength partly reflected the strong US economy – BBH FXStreet (Barcelona) - The Brown Brothers Harriman Team, comments on the view of Yellen on USD strength in the post FOMC statement press conference, highlighting the Fed Chairman’s remarks on USD with respect to inflation, exports and the overall US economy. Key Quotes “Contrary to what some had expected, there was no mention of the dollar in the FOMC statement itself. Most of Yellen’s remark about the dollar during the press conference were not instigated by the Chair, but by inquiring reporters, many of whom later wrote stories about the increased importance of the dollar in setting Fed policy.” “Yellen accepted that the rise in the dollar was one of the factors that were slowing exports Reporters did not press further: If the dollar was one of the factors, what were the others?” “If they had, we suspect Yellen would have explained that the IMF and World Bank had cut their forecasts for world growth. We think that the data bears out our contention that the best thing for US exports is stronger world growth.” “Yellen also noted that the strength of the dollar was dampening inflation through import prices. Many participants completely ignored the rest of her comments about this, and in particular that this was a transitory development.” “Few reports covering the Fed thought it worth mentioning that Yellen acknowledged that the dollar’s appreciation was partly a reflection of the strength of the US economy.” “We suggest that Yellen’s testimony before Congress in late February sheds light on Fed’s thinking. She indicated that the dampening impact of the rise of the dollar is broadly offset by the fall in oil prices.” “The claim that Yellen has waded into the so-called currencies wars is far from the mark.” “Indeed, we expect that the dollar will be stronger not weaker when the Fed raises interest rates.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 23,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! -
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OctaFX_Farid replied to OctaFX_Farid's topic in Technical Analysis
EUR/USD rises above 1.09 FXStreet (Mumbai) - The EUR/USD pair rose to a fresh daily high of 1.0935 as markets anticipate an upbeat economic view from the ECB President Draghi in his testimony before the European Parliament in Brussels. EUR/USD: Trades above a key Fib level The pair rose above 1.09, which also happens to be a 23.6% retracement level of the up trend from 1.0461 to 1.1032. The EUR is being bought as markets believe the ECB president is likely to be more upbeat on the economy in his testimony today. Moreover, Draghi is likely to cheerlead the effects of the ECB’s QE but warn that reforms are necessary to make the recovery extended and long-lasting. The ECB has already revised up its economic outlook, and Governing Council member Christian Noyer said today that asset purchases are an “important and clear signal” that monetary policy will remain expansionary over an extended period. EUR/USD Technical Levels At the moment, the pair is trading at 1.0924; up 0.97%. The immediate resistance is seen at 1.10, above which the pair could rise to 1.1033 levels. On the flip side, a break below 1.09 could push the pair back to 1.0850 levels. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 23,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! -
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OctaFX_Farid replied to OctaFX_Farid's topic in Technical Analysis
Switzerland should implement foreign currency QE – IMF FXStreet (Mumbai) - The Swiss National Bank (SNB) board member Thomas Moser said today that the bank is open to the idea of foreign currency asset purchases suggested by the International Monetary Fund (IMF). In its annual assessment, the IMF proposed that Switzerland should “ease monetary policy further" to bolster growth and reduce risks related to "very low inflation". The IMF states, “Purchases could consist of foreign currency assets, and perhaps some domestic assets - though scope for this is more limited - with the pace of purchases adjusted as necessary in response to developments. In addition the policy rate should be maintained at its current negative level for now, as this has been helpful in reducing franc appreciation and deflationary pressures.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 23,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! -
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OctaFX_Farid replied to OctaFX_Farid's topic in Technical Analysis
US Session recap: Another shaky day for the greenback FXStreet (Guatemala) - The US session had good movements across the currency board, with a soft dollar at the outset for it to climb back and recover some lost ground on the day. In markets on Friday, the sell-off came on when the Euro got some support on speculation Greece will receive an infusion of bailout money. The dollar was in decent supply and only managed to save some face in the closing hours. Oil went through $46 per bbl and the Euro topped out at 1.0881. The yellow metal made a high of $1,188 from $1,169 while the S&P 500 was trading up over 1% while in the end, the index rose 18.65 points, or 0.9 percent, to 2,107.92. EUR/USD is continuing its northern path in a chop, yet outside of the bearish channel from 1.1300 and in the upper half of the recent range on the minor bounce from current yearly lows made this month. 1.08 is supporting the pair on drifts to the downside and leaves the major on a positive note into next week. The Canadian dollar had a good run on the weakness of the greenback that was in full supply, despite the unhealthy retail sales and in-line CPI's from the Canadian economy. so, 1.2725 down to 1.2543 was about the price action of today, one way, with a little stubbornness at 1.2600. GBP/USD was also a one sided story, from 1.4760 to 1.4990 with resistance taking the major back to 1.492520 support. While the Aussie and Kiwi ended the weak the strongest vs the greenback. AUD high was 0.7846, it is ending the week testing 0.7800 and despite being down to 0.7610, 20 pips of the week's low yesterday, it ends the week closing at 0.7775. The Kiwi is at 0.7563, tucked below the weeks high made today at 0.7592. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 21,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker!