OctaFX_Farid Posted March 5, 2015 Author Share Posted March 5, 2015 EUR/USD steadies above 1.1000 after ECB FXStreet (Córdoba) - EUR/USD steadied right above the 1.1000 area after Draghi’s comments sent the pair to a fresh 11-year low of 1.1006. Even though EUR/USD initially moved higher, it quickly surrendered gains and dropped more than 100 pips after ECB President said the ECB will launch QE program on March 9 and pledged to buy sovereign bonds with negative yields up to -0.2%. EUR/USD fell from a daily high of 1.1114 to a low of 1.1006 but the managed to stabilize around 1.1020, where it is currently trading, 0.5% below its opening price. If EUR/USD breaks below 1.1000 (psychological level), next supports are seen at 1.0917 (Sep 5 2003 low). On the flip side, resistances could be found at 1.1149 (100-hour SMA) and 1.1185 (Mar 4 high). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 05,2015 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted March 5, 2015 Author Share Posted March 5, 2015 EUR/JPY: Consolidating the downside and bearishness FXStreet (Guatemala) - EUR/JPY is currently trading at 132.40 with a high of 133.60 and a low of 132.12. EUR/JPY remains under pressure and this time the ECB's Drghi left the room with the euro down at fresh lows. However, in respect of the ECB meeting, Carsten Brzeski, analyst at ING bank explained that, overall, the ECB’s macro-economic assessment was much more upbeat than in previous months. "It looks as if at least the ECB is a strong believer in the positive economic impact of its own QE programme." Technically, Karen Jones, chief analyst at Commerzbank explained that the EUR/JPY is expected to remain under pressure given that last week we saw failure ahead of the 38.2% retracement at 137.65 and well ahead of the 200 day moving average at 139.20. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 05,2015 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted March 6, 2015 Author Share Posted March 6, 2015 Session Recap: USD extends the rally, NFP eyed FXStreet (Edinburgh) - The greenback continues its march north almost unabated on Friday, lifting the US Dollar Index (DXY) to fresh highs in over a decade, and in turn confining the riskier assets to challenge lower levels. The euro is trading in levels last seen in September 2003 around 1.0940/30 with high chances of seen further supports breached in case of a positive surprise from the US Payrolls in February. Continuing in the G10 space, the sterling quickly breached below the 1.5200 key support and seems to have found support around 1.5160. In addition, the greenback is clinging to the area of 120.00 against the Japanese yen, with the area of 120.40/50 still remaining elusive for USD bulls. Ahead in the day, US Non-farm Payrolls will be the main highlight today. Consensus expects the US economy to have added 240K jobs during February vs. January’s 257K. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 06,2015 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted March 6, 2015 Author Share Posted March 6, 2015 GBP/USD expected to test 1.5040 – Scotiabank FXStreet (Barcelona) - Camilla Sutton CFA, CMT, Chief FX Strategist at Scotiabank, maintains a bearish outlook on GBP/USD, anticipating the pair to test 1.5040 levels. Key Quotes “GBP is weak, having lost 2.6% since failing to break above the 100‐day MA on February 26th.” “GBPUSD short‐term technicals: bearish—most studies warn of downside risk and have shifted from neutral to bearish.” “We are bearish to be short GBP at current levels, looking for a test down to 1.5040.” “Support lies at 1.5139 followed by 1.5100; while resistance comes in at the 21‐day MA at 1.5352.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 06,2015 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted March 6, 2015 Author Share Posted March 6, 2015 EUR/USD in fresh lows post-Payrolls FXStreet (Edinburgh) - The offered tone around the single currency is growing bigger on Friday, with EUR/USD now meandering fresh lows. EUR/USD weaker following Non-farm Payrolls The pair is quickly accelerating its intraday downside after the US economy created 295K jobs during February, beating prior surveys at 240K and up from January’s 239K (revised from 257K). In addition, the jobless rate ticked lower to 5.5%, bettering consensus. EUR/USD levels to consider As of writing the pair is retreating 1.29% at 1.0885 facing the next support at 1.0800 (psychological level) On the flip side, a breakout of 1.1218 (high Mar.3) would expose 1.1245 (high Feb.27) and then 1.1271 (10-d MA). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 06,2015 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted March 6, 2015 Author Share Posted March 6, 2015 USD/CNY bullish bias – BTMU FXStreet (Barcelona) - The Research Team at Bank of Tokyo-Mitsubishi UFJ, retains their bullish bias on USD/CNY, supported by the positive view for Chinese headline CPI inflation. Key Quotes “Authorities have clearly been trying to calm spot the past two sessions, but DXY is rising and global disinflation won't go away soon.” “If China's headline CPI inflation rebounds as we and markets expect, these will all exacerbate CNY REER strength, implying higher fixings could return. We retain our bullish lean.” “Both PBOC Deputy Governor Yi Gang and advisor Chen Yulu said there was no urgent need to widen the trading band (which has also been our view), so upside is capped by the fix.” “As February economic indicators roll in, we are watching if retail performance improves, an early indication of lower oil price stimulus. We are also thinking total social financing will exceed expectations as new bank lending is pushed by authorities, meaning possibly upside potential for fixed asset investment.” “For the record, both CFLP and HSBC/Markit manufacturing PMIs rose in February, the latter noticeably.” “USD/CNY – bullish bias – (6.2500-6.2850)” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 06,2015 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted March 6, 2015 Author Share Posted March 6, 2015 USD/MXN hits 15.3500 on NFP FXStreet (Edinburgh) - The US dollar is extending its upside momentum vs. the Mexican peso on Friday, lifting USD/MXN to fresh tops around 15.3500. USD/MXN in multi-year peaks Spot is trading in levels last seen in March 2009 in the 15.3000 area following a stellar print from the US labour market during February. The US economy added 295K jobs in the last month, surpassing forecasts for 240K and January’s print of 239K (revised down from 257K). In addition, the unemployment rate ticked lower to 5.5%, beating consensus at 5.6%. USD/MXN levels to consider At the moment spot is up 0.97% at 15.3406 with the next resistance at 15.3596 (high Mar.6) ahead of 15.5941 (monthly high Mar.2009) and finally 16.0000 (psychological level). On the downside, the initial support lies at 15.1719 (low Mar.6) followed by 15.0289 (low Mar.5) and then 14.9777 (low Mar.4). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 06,2015 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted March 6, 2015 Author Share Posted March 6, 2015 USD/JPY near-term risk towards 121.85 – Scotiabank FXStreet (Barcelona) - Camilla Sutton CFA, CMT, Chief FX Strategist at Scotiabank, notes that with risk aversion easing and USD on way to another bullish run, the near-term risks for USD/JPY lie for a re-test of 121.85 levels. Key Quotes “USDJPY traded in a relatively tight range with all the action taking place in EURJPY, which is driving towards fresh lows.” “With risk aversion having eased from its January highs, fundamentals having failed to improve and the USD appearing to embark on a new leg higher; we see the near‐term risk for USDJPY as a test up to its ytd highs of 121.85.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 06,2015 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted March 6, 2015 Author Share Posted March 6, 2015 NZD/USD falls toward 0.7400 after strong US NFP FXStreet (Córdoba) - NZD/USD fell sharply and turned intraday negative following a strong US jobs report, which triggered a dollar rally across the board. NZD/USD fell more than 100 pips from daily highs and hit a 3-week low of 0.7404 after data showed the US economy created 295K new jobs in February, versus 240K expected, while the unemployment rate fell to 5.5%. However, NZD/USD managed to hold above the 0.74 mark and it was last trading down 0.86% on the day at 0.7410. The pair is posting its second daily loss in a row after being rejected from above 0.7600 earlier this week. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 06,2015 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted March 9, 2015 Author Share Posted March 9, 2015 EUR/SEK still targets 9.30 medium term – Danske Bank FXStreet (Edinburgh) - Lars Christensen, Chief Analyst at Danske Bank, keeps the bullish view in the cross, backed by a potential further easing by the Riksbank. Key Quotes “In the Scandies, EUR/SEK continues to trade with a heavy tone as the market re-prices Sweden”. “The fundamental outlook for the SEK has improved substantially but we think the risk is increasing of a correction in EUR/SEK up towards 9.30 as the market should not rule out action from the Riksbank on SEK strength or new softness in data”. “This week, the main data to focus on are the Prospera inflation survey and February CPI data due on Wednesday”. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 09,2015 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted March 9, 2015 Author Share Posted March 9, 2015 EUR/SEK still targets 9.30 medium term – Danske Bank FXStreet (Edinburgh) - Lars Christensen, Chief Analyst at Danske Bank, keeps the bullish view in the cross, backed by a potential further easing by the Riksbank. Key Quotes “In the Scandies, EUR/SEK continues to trade with a heavy tone as the market re-prices Sweden”. “The fundamental outlook for the SEK has improved substantially but we think the risk is increasing of a correction in EUR/SEK up towards 9.30 as the market should not rule out action from the Riksbank on SEK strength or new softness in data”. “This week, the main data to focus on are the Prospera inflation survey and February CPI data due on Wednesday”. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 09,2015 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted March 9, 2015 Author Share Posted March 9, 2015 USD upside expected to continue – ANZ FXStreet (Edinburgh) - Analysts at ANZ continue to see a Fed’s rate hike in June and a stronger dollar in the next periods. Key Quotes “The February NFP release was materially stronger than expected. NFPs rose by 295k and the unemployment rate fell to 5.5% from 5.7%”. “Whilst earnings growth remains soft at 2.0% y/y, expectations are now firmly focused on a removal of the reference to “patience” at the March FOMC meeting”. “That would confirm that the FOMC has moved away from date dependency in its forward guidance to data dependency”. “If, as we expect, the activity data firms again in coming months, then the FOMC remains on course to begin normalising interest rates soon, probably at the June meeting”. “In the interim, the USD can continue to take the strain for monetary tightening”. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 09,2015 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted March 9, 2015 Author Share Posted March 9, 2015 Japan GDP revised lower, officials wary of USD/JPY destabilization – BTMU FXStreet (Barcelona) - Derek Halpenny, European Head of GMR at Bank of Tokyo-Mitsubishi UFJ, shares that Japan lowered its Q4 GDP to 1.5% from prevoous 2.2%, and further adds that the expected change in Fed’s forward guidance will keep Japanese officials maintain a cautious approach due to concerns about destabilization of USD/JPY. Key Quotes “After heavy yen selling on Friday versus the US dollar, USD/JPY was more stable today in response to the GDP data which saw the Q4 data revised lower from 2.2% to 1.5% on an annualised Q/Q basis.” “The reason for the downgrade was mainly down to capital spending, which was revised down from +0.1% to -0.1% and private inventories which originally was reported to have contributed 0.2ppt to overall GDP but was now estimated to have taken 0.2ppt off growth.” “The good news was that household consumption was actually revised higher and certainly points to the prospect that the Japanese consumer has recovered from the sales tax increase hit in Q2 and Q3 last year. The Economy Watchers’ Survey also suggests this with the current Index up from 45.6 in January to 50.1 in February - close to the initial recovery peak after the sales tax increase last year.” “BOJ Deputy Governor Nakaso spoke today and came across a little cautiously when communicating on the yen. He stated that the yen should move “stably” reflecting economic and financial fundamentals. He declined to state that yen depreciation was a positive overall taking a more nuanced approach that there are different impacts for different segments of the economy.” “We suspect a more cautious approach amongst Japanese officials is very likely going forward – if the Fed do move to raise the key rate in the US this week, there may well be concerns over a destabilising jump in USD/JPY.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 09,2015 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted March 9, 2015 Author Share Posted March 9, 2015 Japan GDP revised lower, officials wary of USD/JPY destabilization – BTMU FXStreet (Barcelona) - Derek Halpenny, European Head of GMR at Bank of Tokyo-Mitsubishi UFJ, shares that Japan lowered its Q4 GDP to 1.5% from prevoous 2.2%, and further adds that the expected change in Fed’s forward guidance will keep Japanese officials maintain a cautious approach due to concerns about destabilization of USD/JPY. Key Quotes “After heavy yen selling on Friday versus the US dollar, USD/JPY was more stable today in response to the GDP data which saw the Q4 data revised lower from 2.2% to 1.5% on an annualised Q/Q basis.” “The reason for the downgrade was mainly down to capital spending, which was revised down from +0.1% to -0.1% and private inventories which originally was reported to have contributed 0.2ppt to overall GDP but was now estimated to have taken 0.2ppt off growth.” “The good news was that household consumption was actually revised higher and certainly points to the prospect that the Japanese consumer has recovered from the sales tax increase hit in Q2 and Q3 last year. The Economy Watchers’ Survey also suggests this with the current Index up from 45.6 in January to 50.1 in February - close to the initial recovery peak after the sales tax increase last year.” “BOJ Deputy Governor Nakaso spoke today and came across a little cautiously when communicating on the yen. He stated that the yen should move “stably” reflecting economic and financial fundamentals. He declined to state that yen depreciation was a positive overall taking a more nuanced approach that there are different impacts for different segments of the economy.” “We suspect a more cautious approach amongst Japanese officials is very likely going forward – if the Fed do move to raise the key rate in the US this week, there may well be concerns over a destabilising jump in USD/JPY.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 09,2015 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted March 10, 2015 Author Share Posted March 10, 2015 Credit Agricole: Fed soundings lifts USD; we stay long – eFXnews FXStreet (Barcelona) - The eFXnews Team notes Credit Agricole views that with Fed on its track to hike rates in mid-year, USD remains a buy, especially versus EUR and CAD. Key Quotes “The USD has remained in demand. Fed’s Fisher stressed that a repeat of 2014 economic growth would put the year-end jobless rate at around 4.5% and that taking policy clues from present wage growth would put the Fed in dangerous territory. As such he reaffirmed that the Fed should raise rates early rather than moving later. He added that wage pressures will build as unemployment falls.” “Overall we remain of the view that the Fed will consider raising rates as soon as mid of this year. Well supported central bank monetary policy expectations should keep the USD a buy.” “We remain long the currency versus the EUR, and CAD.” This content has been provided under specific arrangement with eFXnews. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 10,2015 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted March 10, 2015 Author Share Posted March 10, 2015 Improving risk appetite negative for JPY, go long for $123.55 – GrowthAces FXStreet (Barcelona) - The Growth Aces Research Team believe that the improving risk appetite as a result of QE will be negative for the Yen, and hence maintain a bullish outlook for USD/JPY, targeting 123.55 levels. Key Quotes “The Swiss National Bank and the Bank of Japan are the leaders in expanding their balance sheets in the relation to GDP of their countries. This means that the JPY and the CHF are likely to be under strongest pressure among major currencies.” “The JPY and the CHF are also known safe-haven currencies and an improvement in risk appetite as a consequence of quantitative easing will be negative for these currencies.” “We have raised our buy offer on the USD/JPY to 120.80.” “The next strong resistance level is 123.67,daily high on July 9, 2007 and the target of our long position would be placed slightly below this level. The stop-loss level will be set below 119.90, daily low on March 6.” “Significant technical analysis' levels: Resistance: 121.29 (high Mar 6), 121.86 (high Dec 8), 122.00 (psychological level) Support: 119.90 (low Mar 6), 119.47 (low Mar 4), 119.13 (low Feb 27)” “USD/JPY: buy at 120.80, if filled – target 123.55, stop-loss 119.60” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 10,2015 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted March 10, 2015 Author Share Posted March 10, 2015 EUR/USD bounces off 1.0720 FXStreet (Edinburgh) - The European currency is now attempting to recover some ground vs. the US dollar on Tuesday, taking EUR/USD to the area of 1.0780/90 so far. EUR/USD focus on Greece Developments from Greece remain the main catalyst for the pair in the near term, with technical talks between Greek officials and the Eurogroup scheduled to start tomorrow regarding the recent reforms package submitted by Greece. In the same line, liquidity fears keep mounting in light of the €300 million repayment to the IMF due by the end of the week. Nothing in terms of data releases in the euro area today, whereas the Business Optimism index tracked by NFIB ticked higher to 98.0 during February from 97.9 in the previous month. EUR/USD relevant levels As of writing the pair is losing 0.70% at 1.0776 and a breakdown of 1.0722 (12-year low Mar.10) would target 1.0502 (low Mar. 21 2003) and finally 1.0335 (2003 low. Jan.3). On the flip side, the initial hurdle lines up at 1.0855 (hourly high Mar.10) followed by 1.0906 (high Mar.9) and then 1.1033 (high Mar.6). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 10,2015 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted March 10, 2015 Author Share Posted March 10, 2015 Greek scenario continues to deteriorate – BBH FXStreet (Edinburgh) - The research team at BBH assessed the current panorama in the Greek-Eurogroup debt talks. Key Quotes “The latest reform proposals, delivered at the end of last week, were different from the proposals from February 20th rather than further developing them. According to press reports, some EU officials dismissed the latest proposals as "amateurish". It follows sending wrong documents and contradictory signals. This is not the same as inexperienced, which is a given and forgivable”. “Greece has painfully little room to maneuver as the official creditor demands are onerous. The official creditors have cut off the assistance funds to Greece since the middle of last year, long before Syriza's electoral victory”. “New technical discussions will start on Wednesday in Brussels. For largely symbolic reasons, Greece has resisted a visit by the official creditors to Athens. This has caused a delay and deepened the sense exasperation. Greece has a T-bill auction this week that will largely offset a maturing issue. It has a roughly another 300 mln euro payment due to the IMF by the end of the week”. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 10,2015 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted March 10, 2015 Author Share Posted March 10, 2015 EUR/CHF points upwards – Westpac FXStreet (Edinburgh) - Strategists at Westpac expect the European cross to gain further ground in the next weeks. Key Quotes “EUR/CHF has now retraced 2/3s of its collapse that followed the SNB's decision to abandon their peg”. “However, amid ECB QE and a highly probable resumption of hostilities in eastern Ukraine at some point we doubt EUR/CHF has much further room on the topside”. “A 7th week of higher highs / higher lows maintains a strong uptrend bias. Expect further steady gains in the coming weeks”. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 10,2015 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted March 10, 2015 Author Share Posted March 10, 2015 USD/CHF climbs further, hits fresh 2-month highs FXStreet (Córdoba) - USD/CHF continues to move toward parity, having extended gains to its highest level since the SNB abandoned the fran cap on January 15. Underpinned by broad dollar strength, USD/CHF pushed higher and printed fresh 2-month high of 0.9969 in recent dealings. At time of writing, the pair is trading at 0.9965, recording a 1.12% gain on Tuesday. While prospects of a rate hike by the Fed are lifting the greenback, recent chatter about the the Swiss government considering to set up a new EUR/CHF floor are hurting the franc. USD/CHF levels to watch As for technical levels, on the upside immediate resistances line up at 1.0000 (psychological level) and 1.0070 (100-month SMA). On the flip side, supports are seen at 0.9852 (daily low) and 0.9824 (Mar 9 low). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 10,2015 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted March 11, 2015 Author Share Posted March 11, 2015 ECB should use all tools available to fulfil its mandate – ECB’s Praet FXStreet (Mumbai) - European Central Bank (ECB) Board member Peter Praet said in a speech delivered at the Watchers XVI conference organized by the Center for Financial Studies in Frankfurt today, the decision by the ECB to expand its asset purchases was meant to send a clear signal that the central bank doesn't have an instrument vacuum. Key Quotes: "If monetary dominance is to prevail the central bank should not hesitate to use all the tools available to fulfill its mandate", "Reaffirms the central pillar of monetary dominance which is our commitment to our mandate," "We acted because we saw a real risk of not achieving our price stability objective over the medium-term. One may argue that we could have tolerated a deviation of inflation from our aim (namely to stabilize inflation around levels not far from 2% in the price stability range) for longer. Yet in my view this would have extended the notion of the medium term to temporal dimensions that would have been hardly justifiable on the basis of accountability to our objective". "The mandate is meaningful only if exercised and assessed within reasonable time limits". OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 11,2015 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted March 11, 2015 Author Share Posted March 11, 2015 EM FX suffers the same fate as majors, USD to blame – BBH FXStreet (Barcelona) - The Brown Brothers Harriman Team explains that broad based USD strength has led to many EM currencies weaken against the dollar. Key Quotes “It’s been an ugly week for EM. We’ve already seen new multi-year highs for USD/BRL, USD/CLP, USD/COP, USD/MXN, USD/ILS, USD/ZAR, USD/IDR, USD/KRW, USD/MYR, and USD/SGD.” “This goes hand in hand with several cycle highs this week for the dollar against many of the majors, including JPY, AUD, EUR, DKK, NOK, and SEK.” “It's pretty unusual to see so many USD highs being set at one time, which just goes to show just how broad-based the current dollar rally really is.” “Meanwhile, MSCI EM has given up its 2015 gains and is now down on the year. It's currently testing the 62% retrenchment objective of the December-February bounce near 941.20, and a break would target the December low near 906.25.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 11,2015 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted March 11, 2015 Author Share Posted March 11, 2015 EUR/GBP close to a short-term bottom? – Rabobank FXStreet (Barcelona) - Strategists at Rabobank note that technicals suggest it would be difficult for EUR/GBP to clear 0.70 level at the current position, and the pair might be close to an important short-term bottom. Key Quotes “While EUR/GBP continues to depreciate, the psychological level at 0.70 could prove tough to clear. The RSI at 16.8 (the lowest so far this year) implies that the sellers are seriously stretched. The MACD, which is another commonly used momentum indicator, flashes warning signals for the bears.” “Hence, EUR/GBP could be close to an important short-term bottom.” “Should a correction from oversold levels unfolds, as long as rebound is contained well below the 0.73/0.725~ resistance area, EUR/GBP should remain on track to fully reverse the rally from the 2006 low to the 2008 high.” “Even if correction extends beyond the 0.73/0.725~, it would still require a close above the 2012 and 2014 lows at 0.77552 and 0.77672 (which will offer strong resistance) to shift the bias in favour of the bulls.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 11,2015 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted March 11, 2015 Author Share Posted March 11, 2015 EUR/GBP close to a short-term bottom? – Rabobank FXStreet (Barcelona) - Strategists at Rabobank note that technicals suggest it would be difficult for EUR/GBP to clear 0.70 level at the current position, and the pair might be close to an important short-term bottom. Key Quotes “While EUR/GBP continues to depreciate, the psychological level at 0.70 could prove tough to clear. The RSI at 16.8 (the lowest so far this year) implies that the sellers are seriously stretched. The MACD, which is another commonly used momentum indicator, flashes warning signals for the bears.” “Hence, EUR/GBP could be close to an important short-term bottom.” “Should a correction from oversold levels unfolds, as long as rebound is contained well below the 0.73/0.725~ resistance area, EUR/GBP should remain on track to fully reverse the rally from the 2006 low to the 2008 high.” “Even if correction extends beyond the 0.73/0.725~, it would still require a close above the 2012 and 2014 lows at 0.77552 and 0.77672 (which will offer strong resistance) to shift the bias in favour of the bulls.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 11,2015 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted March 12, 2015 Author Share Posted March 12, 2015 Next week’s FOMC to be USD positive - Westpac FXStreet (Barcelona) - Richard Franulovich of Westpac, remain bullish for USD, expecting growth differential and the expected drop of ‘patience’ in next week’s FOMC meeting to boost dollar’s strength. Key Quotes “Global forces continue to conspire in the USD’s favour, the latest vignettes in recent days playing to the USD’s advantage including weaker China activity data, a strong US Feb payrolls, a plunge in German 10yr yields to an eye watering 20bp and renewed weakness in commodity prices (though that may be as much a reflection of USD gains).” “A look back at USD price action going into past Fed tightening cycles suggests USD consistently gains further ground into the first hike but thereafter consolidation is the order of the day.” “We stick with a bullish outlook as policy and growth differentials between the US on the one side and China, Japan and the Eurozone on the other side continue to break in the USD’s favour.” “Next week’s FOMC meeting likely to play USD positive with the Fed likely to drop “patience” from their lexicon and June Fed lift off odds likely to firm further.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 12,2015 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
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