OctaFX_Farid

Expect further rate cuts in Poland – Danske Bank FXStreet (Edinburgh) - Analysts at Danske Bank assessed the recent decision of the NBP to cut the repo rate by 50 bps, taking it to 2.0%. Key Quotes “Polish rates and yields dropped on the decision while the Polish zloty has lost a bit; however, the move in the zloty was quite limited, in our view”. “We have been calling for monetary easing in Poland for a long time. There were clear signs that the economy has been slowing down while inflation dropped below zero and Poland faces the deepest deflation pressures among other CEE countries”. “Despite the NBP being very reluctant to acknowledge that further easing is needed, the dovish wording has strengthened within the RPP over the past two months and after the September RPP meeting, the central bank clearly signalled that it is ready to cut in October”. “We think that more easing is needed and we expect the NBP to ease monetary policyfurther in the coming months”. “However, given the larger rate cut today, the NBP might take a breather before it cuts again”. “Hence, the NBP might pause in November but it might deliver 25bp in December and more next year”. “When we look at our inflation model, we expect deflation to deepen further in the coming months while economic growth should slow further. This clearly strengthens the case for further easing”. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 10, 2014 OctaFX.Com News Updates

Fed's Plosser: Policy moves should depend on data FXStreet (Łódź) - Philadelphia Fed president Charles Plosser said on Friday that the FOMC should cease referring in its statements to specific time brackets in which certain policy moves could be made. The actions should rather be dependent on data, such as inflation. Plosser also urged the US Congress to eliminate employment from the Fed's mandate so that it could concentrate on the inflation target. He also suggested that comprehensive policy reports should be presented to Congess on a quarterly basis instead of just twice a year. "Differing views are more transparent than a false consensus," Plosser added finally, which in the opinion of JAmie Coleman from FXBeat might mean that " there might be a bit more division on the FOMC than is apparent." OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 10, 2014 OctaFX.Com News Updates

Spread of Ebola would hurt airline and hospitality industries - Deutsche Bank FXStreet (Łódź) - Andrew Zarnett, Research Analyst at Deutsche Bank looks at the possible consequences of a wider Ebola outbreak. Key quotes "History has shown us that should the Ebola epidemic spread domestically, it will have a significant impact on the airline and the entire hospitality sector." "While, at this juncture, the risk of an outbreak is low, it is still prudent to understand the impact that could occur should the disease begin to spread. Further, it would not just be the physical spread that would have negative connotations but the FEAR from an outbreak that could and would have a larger negative impact on the hospitality sector." "Fear of contagion, very early, would lead to a reduction in people’s willingness to travel, eat in restaurants, drink in bars, and quite frankly do anything social. The addition of masks would become a much-wanted clothing item by many." "Concerns have not affected passenger volume so far. On October 2, 2014, the International Air Transport Association (IATA) stated that there is no evidence that suggest that concerns related to Ebola have been affecting passenger volumes. As per IATA, the worldwide international passenger traffic increased 5.9% yr/yr in August, following a 5.4% gain in July. Demand for North American airlines increased 3.2% in August." "So far, so good. Nevertheless, believe more cases of Ebola or the perception of more cases could lead to an increase in the public fear of contagion." "From an investment perspective we would advise investors to maintain positions in moderate leverage credits with strong liquidity (including cash positions) and long dated maturities. Those credits with weak liquidity and high leverage are clearly at greater risk." OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 10, 2014 OctaFX.Com News Updates

USD/CHF climbs above 0.9560 FXStreet (Córdoba) - Greenback gained momentum across the board and pushed USD/CHF to the upside, back to the levels it had before FOMC minutes. The pair rose above 0.9550 and printed a fresh daily high at 0.9579. Afterwards pulled back and it was trading at 0.9567, up 0.25% for the day so far as stocks fall around the world, with Dow Jones futures down 2%. USD/USD still down for the week From Thursday's lows the pair has risen more than a hundred pips, but despite the recovery it still trading below the level it had a week ago. On Monday reached a fresh 1-year high at 0.9685 but then moved with a downside bias and bottomed on Thursday at 0.9468, the lowest since September 26. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 10, 2014 OctaFX.Com News Updates

Ten-year yields decline in Europe and US FXStreet (Mumbai) - The concerns of global economic slowdown triggered by the disappointing International Monetary Fund (IMF) forecasts and by the shockingly weak German economic data has pushed the benchmark bond yields in the US and Europe lower. The ten-year yield in Germany is trading one basis point lower at 0.878, after having hit a record low of 0.859 yesterday. On similar lines, the French ten-year bond yield is trading weak at 1.245, which has been acting as a strong support for the last 7 sessions. Meanwhile, the ten-year yield in the UK is down two basis points to 2.20%. In the US, the ten-year treasury yield is trading near August lows of 2.3, after hitting a high of 2.348. Interestingly, the two-year treasury yield has gained 1.75% to trade at 0.46. The two year note yield, a barometer of short term expectations, is up indicating that markets are pricing-in an early interest rate hike after the hawkish statement of Fed official Bullard. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 10, 2014 OctaFX.Com News Updates

United States Export Price Index (YoY) down to -0.2% in September from previous 0.4% Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 10, 2014 OctaFX.Com News Updates

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Session Recap: USD weakness persists FXStreet (Córdoba) - Broad-based USD weakness remains the theme of the day while global equities rise after the FOMC minutes came in more dovish than expected. Meanwhile in Europe, the German trade surplus disappointed while the Bank of England decided to keep its monetary policy on hold. EUR/USD rose toward 1.2800 before running out of momentum while GBP/USD regained the 1.6200 level but lacked follow-through. USD/JPY extended its correction and hit a fresh 3-week low of 107.60. AUD/USD faltered ahead of the 0.8900 level as USD/CAD consolidates right above 1.1100. Dovish FOMC minutes added pressure on the greenback that was already in a corrective phase following a 12-week rally versus majors competitors. During the New York session, US weekly jobless claims are expected to rise to 294K, while August wholesale inventories climb 0.3%, while several FOMC members are expected to make remarks today. Main Headlines in Europe: What’s the sentiment around EUR/USD today? – Commerzbank and OCBC Bank Germany: Trade surplus narrows to €17.5B in August US Ten-year yield near August lows Brent Crude Oil in bears’ grip ECB Monthly Report: ECB ready to take further measures if necessary Bitcoin gains for the fourth consecutive day Gold inches closer to resistance BoE keeps policy unchanged OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 09, 2014 OctaFX.Com News Updates

GBP/USD in fresh highs post-BoE FXStreet (Edinburgh) - The pound keeps the good mood on Thursday, taking GBP/USD to levels around 1.6215/20, printing new session peaks. GBP/USD neutral following the BoE Spot almost bypassed today’s BOE MPC meeting, after the ‘Old Lady’ left unchanged both the asset purchase facility and the repo rate at £375 billion and 0.5%, respectively. The outcome was largely expected by market participants and well priced in in the recent GBP performance. Traders will now look to the more significant BoE minutes (due in a couple of weeks) for further clues regarding the next rate hike and the slack in the labour market, amongst another key issues in the British economy. GBP/USD levels to watch At the moment the pair is up 0.26% at 1.6211 and a breakout of 1.6234 (50% of 1.6525-1.5943) would target 1.6235 (21-d MA) en route to 1.6252 (high Oct.1). On the down path, the immediate support lines up at 1.6154 (10-d MA) followed by 1.6115 (Tenkan Sen) and then 1.6032 (low Oct.8). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 09, 2014 OctaFX.Com News Updates

OctaFX.com-OctaFX Champions on how they mastered Round 30! Exciting comments from Round 30 participants arrived, but first, let us remind you the names of four winners! 1st place – Mr. Edi Santoso from Indonesia 2nd place – Mr. Ranesh Thenuwara from Shri Lanka 3rd place – Mrs. Annisa Nurul Koesmarini from Indonesia The last runner – Mr. Aleksandr Suknitsky from Netherlands How do you feel being an OctaFX Champion? 1st place – Mr. Edi Santoso: I feel very happy, and hopefully in the future I can be even better. 2nd place – Mr. Ranesh Thenuwara: Wow I feel good. 3rd place – Mrs. Annisa Nurul Koesmarini: I really did not expect to win, totally unpredictable and beyond my expectations. Frankly, I was very happy when on Friday, September 26, I realized that my ranking jumping up into the big 3. After I close all positions on that day, I just hope no one was overtaking my position. And, as it turns out, it actually happened, when I got an email notification from OctaFX. What is the key factor to your success? Why are you better than everyone else? 1st place – Mr. Edi Santoso: Patience is, and ability of not being hasty when doing open position, and being careful while analyzing. 2nd place – Mr. Ranesh Thenuwara: Market trend influences my success. 3rd place – Mrs. Annisa Nurul Koesmarini: My success factors, may be practically just a little analysis and a little luck. I am very confident when I open position on that pair. Then, I open a position with improved margins, which I guess is enough to be able to withstand the brunt of the storm so, I make sure not to be exposed to margin call, even if I do not open the chart for a week. That's it. What was your strategy? Have you developed a perfect plan or tried various techniques? 1st place – Mr. Edi Santoso: Strategies that I use quite simple, just using the default MT4 indicators. That's it. 2nd place – Mr. Ranesh Thenuwara: My strategy is candlestick pattern. 3rd place – Mrs. Annisa Nurul Koesmarini: I used to try Scalping and Intraday techniques in my real account, but the results are less effective and less efficient. Now, I try not to always look at the chart, and I combine it with some cliché but important techniques, which may have been known by traders, such as money management and position sizing, and the result is quite good and not disappointing for people who only see the chart only 3 times during the contest. How long does it take to become a good trader? 1st place – Mr. Edi Santoso: It depends on our perseverance in learning about the market. 2nd place – Mr. Ranesh Thenuwara: Two years. 3rd place – Mrs. Annisa Nurul Koesmarini: To be a good trader, I think it requires 3 to 6 months, if every day, you diligently read the success tips from successful traders of the world, often practicing, brainstorming, discussing with people whose lives rely on trading only. Then, try different weapons and try out various styles and eventually find a suitable and convenient for you. Clearly, when the factor of 10,000 hours of process you have taken, I'm sure you're familiar with youself, and can become a good trader. If you do not take the time every day, the exact time it takes to become a good trader could be much longer, could be 1-5 years. All depends on your willingness and commitment. Simple. OctaFX thanks all the contestants for participation and our interviews for sharing their success stories! Register in Round 32 of OctaFX Champion demo contest to see your name in our news! 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!

WTI Crude recovers ahead of US session FXStreet (Mumbai) - WTI Crude prices have recovered slightly to trade at USD 88.20/barrel after having hit a low of USD 87.52/barrel earlier today. Crude prices appear to track the US equity futures which have turned positive after the intial slump during the early European session. Prices had hit a 17-month low of USD 87.44/barrel on the disappointing growth forecasts from the International Monetary Fund (IMF). The concerns of rising stockpiles is also pushing the prices lower. Later today, official data in the US is expected to show that US crude oil stockpiles rose by 1.6 million barrels last week. Meanwhile, the Energy Information Administration (EIA) cut its crude price forecasts today in a monthly report because of rising output and reduced demand. WTI Crude prices may hit fresh lows today if the data today shows stockpiles increase more than the market expectation. WTI Crude technical levels WTI Crude is hovering near a critical support level of 88.19. Failure to sustain above the same shall open doors for 87.44 levels. On the upside, prices can test 89.26 if Crude sustains above 88.19. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 08, 2014 OctaFX.Com News Updates

USD/JPY drops briefly below 108.00 FXStreet (Córdoba) - USD/JPY dipped back below 108.00 during the European session after the latest recovery attempt was capped by the 108.55 zone earlier on the day. USD/JPY has been on the back foot this week as investors take profit following a long, sharp rally propelled by diverging monetary policy between the Federal Reserve and the Bank of Japan. USD/JPY peaked at the 110.10 area last week and begun a correction that has extended to a 3-week low of 107.74 today. At time of writing, USD/JPY is trading at 108.10, recording a 0.09% gain on the day, as investors gear up for the FOMC minutes. USD/JPY levels to watch As for technical levels, USD/JPY could find next resistances at 108.52 (intraday high/20-day SMA), 109.00 (psychological level) and 109.22 (Oct 7 high). On the other hand, supports are seen at 107.74 (intraday low), 107.08 (Sept 17 low) and 107.00 (psychological level). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 08, 2014 OctaFX.Com News Updates

Bitcoin bulls lack strength FXStreet (Mumbai) - The pullback in Bitcoin prices after the weekend’s slump has been lackluster so far, as the prices repeatedly fail to penetrate through 340-345 levels. Bitcoin has come under pressure, off-late on threats that it may be brought under the regulatory framework. Despite the skepticism over the usefulness of Bitcoin, Silicon Valley investors have poured money into the Bitcoin wallet sector. Blockchain, the most popular Bitcoin wallet service, announced Tuesday that it has raised $30.5 million in a Series A round, marking one of the largest funding rounds of any Bitcoin startup to date. Bitcoin technical levels Bitcoin has a resistance of 343 and 350 while the support is located at 299 and 285. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 08, 2014 OctaFX.Com News Updates

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OctaFX.com-Happy Eid al-Adha to the whole muslim comunity! OctaFX team would like you to accept our sincere 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 neighbours, friends. We believe your good-natured deeds will bring mutual understanding 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! 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!

AUD/USD flat-lining below 0.8700 FXStreet (Edinburgh) - The Aussie dollar is now looking to consolidate intraday losses, with the AUD/USD sidelined around 0.8670. AUD/USD key week ahead Spot is recovering some ground after printing fresh multi-year lows around 0.8640, levels last seen in July 2010. The outlook remains bearish, as the sentiment continues to be dominated by the USD strength and uncertainties regarding a potential slowdown in China. Busy week for the AUD ahead, as the RBA will hold its meeting on Tuesday followed by Consumer Inflation Expectations and Unemployment figures on Thursday and Home Loans and RBA Assistant Governor Edey speech due on Friday. AUD/USD significant levels As of writing the pair is retreating 1.43% at 0.8676 and a breach of 0.8545 (50% Long term) would expose 0.8500 (psychological level). On the upside, the initial resistance lines up at 0.8770 (high Sep.29) ahead of 0.8813 (high Sep.26) and finally 0.8885 (high Sep.25). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 03, 2014 OctaFX.Com News Updates

USD/JPY: BoJ could play its part in supporting the upward trend - Commerzbank FXStreet (Córdoba) - According to Thu Lan Nguyen, analyst at Commerzbank in the coming week, the Bank of Japan could play its part in supporting the upward trend in USD/JPY by fuelling speculation about further expansionary measures. Key Quotes “The upward trend in USD/JPY may also gain support from the Japanese side in the coming week though, as the monetary policy meeting of the Bank of Japan (BoJ) ends on Tuesday and, given the disappointing inflation trend so far, speculation about further expansionary measures from the central bank at the end of this month has increased (BoJ meeting on 31 October)”. “We believe that the BoJ will not reach its inflation target and therefore will ultimately decide in favour of further large-scale asset purchases. That said, we do not expect such a step until early next year as the BoJ will probably allow itself time to be able to better estimate the inflation trend.” “Nonetheless, the BoJ’s rhetoric will change. While it has been quite optimistic about the outlook for the economy and inflation so far, it is likely to be more cautious on inflation now given the downside risks. This should fuel speculation about further expansionary measures and weigh on the JPY”. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 03, 2014 OctaFX.Com News Updates

EUR/USD bouncing off 1.2500 FXStreet (Edinburgh) - The extreme weakness in the single currency seems to have found support in the vicinity of 1.2500 the figure on Friday, with EUR/USD now managing to clinch to 1.2510/15. EUR/USD softer on data The bearish trend in the pair has intensified today following the very positive US docket, with September’s Payrolls climbing to 248K and the ISM Non manufacturing surpassing expectations at 58.6, albeit a tad lower that August’s 59.6. There are no more releases in the US economy or Euroland, as markets slowly surrender to the post-NFP lull ahead of the weekend. Chief FX Straregist Camilla Sutton at Scotiabank said technicals remain bearish, adding, “most technical studies remain in bearish territory and warn of further downside risk. A close today below 1.2620 would warn of further near term downside, with some support at the recent 1.2571 low, but stronger support at 1.2500; resistance comes in at the recent high of 1.2699, followed by 1.2720”. EUR/USD levels to watch At the moment the pair is losing 1.20% at 1.2515 with the next support at 1.2502 (76.4% of 1.2042-1.3995) followed by 1.2493 (low Aug.31) and then 1.2487 (low Aug.30). On the upside, a break above 1.2676 (high Oct.3) would target 1.2699 (high Oct.2) en route to 1.2703 (10-d MA). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 03, 2014 OctaFX.Com News Updates

EUR/JPY in no mans land between critical levels FXStreet (Guatemala) - EUR/JPY is trading at 137.31, down -0.02% on the day, having posted a daily high at 137.91 and low at 137.11. EUR/JPY stabilised at the 137.00/78.6% retracement level yesterday and has found territory again confirmed back onto the handle with a good rally over the course of the past 24 hours. The pair today was offered however with a market flooding away from the single currency with a mixture of poor data releases for the EZ and in a continuation of a strong Yen overnight. We are in no mans land here until a break of 138 to the upside and any rallies that could regain the 200 day ma at 139.62 would be required in order to reassert upside pressure at this point and trigger a move to 141.88 and 143.55 (61.8% and 78.6% retracement of the move seen this year), as explained by Karen Jones, chief analyst at Commerzbank. “Below 135.73 would trigger losses towards the 133.51/23.6% retracement of the move up from 2012”. EUR/JPY hourly levels With spot trading at 137.32, we can see next resistance ahead at 137.47(Hourly 20 EMA) and 137.75 (Yesterday's High). Support below can be found at 137.22 (Weekly Classic S2), 137.11 (Daily Low), 136.90 (Daily Classic S1), 136.87 (Yesterday's Low) and 136.44 (Daily Classic S2). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 03, 2014 OctaFX.Com News Updates

EUR/USD to fall further in the light of strong NFP - UBS FXStreet (Córdoba) - Analysts at UBS expect the positive momentum for the USD to continue - in particular against the euro after strong US nonfarm payrolls. Key Quotes “The speed and the size of the current US dollar rally is very unusual. The fundamental investors and the momentum traders continue to walk hand in hand on the road to a stronger US dollar”. “Non-farm payrolls were so strong on all aspects, that the Fed is urged to explain the rate hike ambitions in the light of this new information”. “The ECB on Thursday confirmed its easing bias. We therefore expect the positive momentum for the USD to continue - in particular against the euro”. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 03, 2014 OctaFX.Com News Updates

GBP/USD into questionable territory FXStreet (Barcelona) - GBP/USD is trading at 1.5959, down -1.14% on the day, having posted a daily high at 1.6161 and low at 1.5952. GBP/USD is now testing the mid point of the handle and November 2014 territory and this area may be regarded as oversold technically and fundamentally. However, from here, there is room towards 1.5920 perhaps and that could act as critical support ahead of the 1.5890/70 level when looking over the last two years. The greenback has been fuelled of course with the impressive Non farm payrolls data on a knee jerk, but if one were to look closer, wages have slipped back and that may prevent further advances in the greenback as we move in towards the close for the week. GBP/USD weighed upon Central Bank outlook Meanwhile, the market is anticipating that the next policy moves from both the Fed and the BoE will be rate hikes, as Jane Foley, Senior Currency Strategist at Rabobank noted and explained, “Surveys are suggesting that a BoE hike is expected in Q1 2015, some months ahead of a Fed hike around the middle of the year. On both counts we are more dovish than the market consensus”. BP/USD noteworthy levels Current price is 1.5960, with resistance ahead at 1.6004 (Weekly Classic S3), 1.6032 (Daily Classic S2), 1.6088 (Daily Classic S1), 1.6096 (Hourly 20 EMA) and 1.6105. Next support to the downside can be found at 1.5950 (Daily Classic S3), 1.5920, 1.5907 and longer-term lows are 1.4868 (3 Year Low) and 1.4334 (5 Year Low). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 03, 2014 OctaFX.Com News Updates

Sectors which added most jobs in the US do not pay much - BNP Paribas FXStreet (Łódź) - BNP Paribas economist Alexandra Estiot observes that event though today's US NFP gains were substantial, the sectors in which the biggest increase was seen are also the ones that do not pay much. Key quotes "Over the month, non-farm payrolls gained 248kwith July and August data revised upwards to 243k and 183k, respectively. In a normal situation that would be healthy reading." "In the current one, it remains very far from what would be needed to close the slack." "As for the 'quality' of jobs created, most positions were added in low-pay sectors, as leisure and hospitality (USD13.98 per hour), trade and transport (USD21.44per hour)." "Still, this report also brings good news. Our view is that the main one is in the acceleration of hiring in the business services industry." "This sector added 81k positions in September while it represents the bulk of the July and August upward revision." "Another good news come from the State and local governments, which added 14k positions, mostly in education." OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 03, 2014 OctaFX.Com News Updates

Ukraine to continue talks with Russia on gas deal next week FXStreet (Łódź) - Ukrainian Energy Minister Yuri Prodan signaled on Friday that Ukraine could resume negotiations on the natural gas agreement with Russia at the end of next week. Talks broke off last Friday, as the parties couldn't reach an agreement on the question of Ukraine's gas debt, which Russia's Gazprom claims amounts to 5.3 billion dollars. The company discontinued gas deliveries to Ukraine in June this year. Both countries as well as the EU will suggest what would be the best solution they see to the situation, Yuri Prodan told reporters. He was unsure however whether Moscow would agree to deliver gas if Kiev made a prepayment of about 2 billion dollars. Russian markets were boosted by the news. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 03, 2014 OctaFX.Com News Updates

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GBP/USD falls further, nears 1.6100 FXStreet (Córdoba) - GBP/USD came under renewed pressure at the beginning of the American session once investors attention left the European Central Bank. Following a short-lived recovery that was capped by the 1.6175 zone, GBP/USD resumed the fall and broke below the 1.6130/25 zone, sliding to its lowest level since September 10 at 1.6111. At time of writing, GBP/USD is trading at 1.6125, recording a 0.36% loss Thursday and on track to post its seventh daily decline in a row. GBP/USD technical outlook “In the 4 hours chart the technical picture maintains a clear bearish tone, with 20 SMA below the 1.6235 Fibonacci resistance, tops in case of further gains”, said Valeria Bednarik, chief analyst at FXStreet. “A break below 1.6120 will increase the risk of a steady fall with immediate target at 1.6085”. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 02, 2014 OctaFX.Com News Updates