OctaFX_Farid Posted May 1, 2015 Author Share Posted May 1, 2015 GBP/USD near-term risk titled to the downside – Scotiabank FXStreet (Barcelona) - Camilla Sutton CFA, CMT, Chief FX Strategist at Scotiabank, believes that the political uncertainty implies that risks for GBP/USD remain tilted to the downside in the near-term. Key Quotes “GBP was soft retracing recent strength and entering the NA session (and the UK long weekend) down 0.4%. Data was mixed, but the release of a disappointing manufacturing PMI (falling to 51.9) weighed heavily on GBP.” “We continue to cling to concerns over the upcoming election and see near‐term GBP risk heavily weighted to the downside.” May 01,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted May 1, 2015 Author Share Posted May 1, 2015 Tactically bearish on EM FX but the rally is gaining momentum – SG FXStreet (Barcelona) - The Team at Societe Generale, maintains a tactical bearish approach on EM FX, and further share their FX exposure in the same. Key Quotes “Until uncertainty over US monetary policy is eliminated the backdrop for GEM FX should remain challenging (For now, doom and gloom). Lack of appetite by speculative investors to position for medium term appreciation should continue to mitigate any EM rally.” “We continue to have a tactically bearish view which we express through long USD risk or relative value trades.” “Our positioning is concentrated in bearish EMEA exposure - long USD-TRY, USD-ZAR, and USD-ILS. – but also includes long USD-BRL and a directionally bullish dollar trade (owning USD-IDR 3x12 NDF spread) and a defensive relative value position (long INR-IDR 12m NDF).” May 01,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted May 1, 2015 Author Share Posted May 1, 2015 EUR/USD spikes 1.1290 on US data FXStreet (Edinburgh) - EUR/USD managed to quickly spike to the 1.1290 level following the US data releases on Friday, although it’s returned to 1.1240 afterwards. EUR/USD within the range Another set of US releases, and another disappointment, and another chance for the pair to climb further. EUR/USD clinched fresh highs near 1.1290 after the key ISM Manufacturing came in at 51.5 during April, matching March’s print albeit a tad lower than consensus (52.0), and the sentiment gauge tracked by the Reuters/Michigan index stayed unchanged at 95.9, also below estimates at 96.0. Further data showed construction Spending contracting at a monthly pace of 0.6%. Next on tap will be Total Vehicle Sales and the speech by FOMC Williams. EUR/USD key levels At the moment the pair is advancing 0.12% at 1.1237 with the next hurdle at 1.1291 (high May 1) followed by 1.1380 (high Feb.26) and then 1.1389 (high Feb.25). On the downside, a drop below 1.1203 (low May.1) would expose 1.1125 (daily cloud top) and finally 1.1072 (low Apr.30). May 01,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted May 1, 2015 Author Share Posted May 1, 2015 US data not supporting a June hike - ING FXStreet (Guatemala) - James Knightley, analyst at ING Bank explained that today’s US data isn’t particularly helpful for those looking for a June rate hike. Key Quotes: "The April manufacturing ISM index came in at 51.5, the same as in March, but below the 52.0 consensus figure." "That said, the activity numbers weren’t all that bad with actual production rising to 56.0 from 53.8 while new orders rose to a four month high, albeit well down on the 60+ levels seen in 4Q14. Interestingly, new export orders actually strengthened despite plenty of commentators suggesting that dollar strength is damaging the US economy and should mean that the Fed delays policy tightening." "There was more support for an “on hold” Fed from the weakness seen in the employment component of the ISM report. It dropped from the break-even 50.0 level in March to 48.3, indicating that the sector saw job losses in April." "This is the weakest jobs number since September 2009 and it supports our view that after 1Q15’s economic weakness, labour market hiring will take a little while to pick up – hence our sub consensus 185,000 call for next Friday’s payrolls figure." "We have also seen a big fall in construction spending in March (-0.6%MoM versus consensus forecast of a 0.5% rise) while the April final reading of University of Michigan sentiment was unchanged from the preliminary figure of 95.9." "Taking it all together, the numbers are a little disappointing and if the jobs data is indeed on the softer side of expectations next Friday it will make a June rate hike look unlikely." May 01,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted May 1, 2015 Author Share Posted May 1, 2015 EUR rise unsustainable – BTMU FXStreet (Barcelona) - The Research Team at Bank of Tokyo-Mitsubishi UFJ, remain of the view that the current rise in eurozone yields and the EUR is unsustainable. Key Quotes “The euro has staged a rebound over the last week supported by a pick-up in euro-zone yields. The German bund yield has increased sharply over the last two trading days, although still remains close to record lows.” “The ECB’s aggressive easing is likely to continue to weigh on euro-zone yields and the euro as yield spreads remain unfavourable. At the current juncture we are more inclined to view the recent rise in euro-zone yields and the euro as unsustainable.” May 01,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted May 1, 2015 Author Share Posted May 1, 2015 Greenback puts euro under threat in currency wars - Rabobank FXStreet (Guatemala) - Analysts at Rabobank noted that by the end of last year is was becoming evident that the ECB had become a winner in the currency war, taking the baton from the BoJ. "By wiping the markets into a frenzy of anticipation ahead of the introduction of the asset purchase plan, ECB President Draghi pushed the EUR into a path of rapid depreciation." "The plunge in EUR/USD was facilitated by the broadbased rise in the USD which was supported by widespread expectations that the Fed could be hiking interest rates by the middle of this year. On the back of a spate of soft US data releases, those expectations now lie in tatters and the USD’s downtrend is showing signs of reversing." "The dollar index has broken below its 100 day sma. For the first time since the downside trend in EUR/USD started last July it posted a monthly gain in April. EUR/USD1.1265/80 is a key resistance level (the 38.2% Fibonacci retracement from the December high and daily lows throughout February). " "While a sustained break above would be another constructive short-term signal for the USD we maintain that the sell-off in the greenback is likely to run out of steam." "The stronger USD has been a major catalyst in the war against low growth and weak inflationary pressures being waged in various part of the world. If the USD sell off persists, there is risk that several central banks will reassert their dovish positions in order to ensure that relative interest rate differentials remain clearly in favour of the greenback." May 01,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted May 1, 2015 Author Share Posted May 1, 2015 EUR/USD drops to 1.1180 FXStreet (Edinburgh) - The shared currency is accelerating its downside at the end of the week, rapidly dragging EUR/USD to session lows in the proximity of 1.1180. EUR/USD weaker as USD wakes up A wave of USD-buying keeps hurting the pair following the releases in the US economy. Recall that both the ISM Manufacturing and the Reuters/Michigan index came in below expectations albeit matching the previous print. In addition, market participants seem to be cashing up part of the recent strong gains in the pair, collaborating with the downside. EUR/USD key levels At the moment the pair is retreating 0.16% at 1.1205 and a drop below 1.1184 (low May.1) would expose 1.1125 (daily cloud top) and finally 1.1072 (low Apr.30). On the upside, the immediate hurdle aligns at 1.1291 (high May 1) followed by 1.1380 (high Feb.26) and then 1.1389 (high Feb.25). May 01,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted May 4, 2015 Author Share Posted May 4, 2015 EUR back on the defensive – TDS FXStreet (Barcelona) - FX Strategists at TD Securities, note that EUR/USD remains on the defensive ahead of US NFP, and is poised to test 1.1120 in the short-term, breaking below which might slide towards 1.1050/00 levels. Key Quotes “This week will get off to a slow start, with the UK on holiday today. That will not be helpful for the EUR which really needs to see a bit more participation in the long side of the trade if it is to build on recent gains.” “The end of last week’s trading was inauspicious, with EURUSD stalling around 1.13, a major technical point on the longer-term charts (the first retracement resistance of the 1.40/1.04 decline) and the start to this week’s even less so, with EURUSD trading heavy and poised to test short-term trend support at 1.1120; below here and the EUR will slide back to retest the 1.1050/00 area. If the EUR can’t get above here, it has little chance of sustaining the recent bid.” “It remains to be seen whether investors want to extend positioning ahead of the US NFP data on Friday, where market consensus expectations currently points to a gain of 230k jobs and a 5.4% u/rate (TD 195k and 5.5%). Good data (even our below consensus call is respectable), in other words, which will go someway at least in dispelling concerns that sluggish US growth will prevent the Fed from raising rates later this year.” “Good data (and upward revisions to the March result) would be an unequivocal plus for the USD.” May 04,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted May 4, 2015 Author Share Posted May 4, 2015 GBP/USD erases daily losses FXStreet (Córdoba) - The British pound managed to bounce from daily lows and erased intraday losses at the beginning of the American session to trade nearly flat on the day against the dollar. The greenback lost momentum and retreated across the board, helping GBP/USD to bounce from a low of 1.5089 to 1.5148. At time of writing, the pair is trading at 1.5140, virtually unchanged on the day. However, sterling investors might remain cautious ahead of Thursday’s UK general elections as polls continue to paint a hung parliament outcome. GBP/USD technical outlook “The technical picture continues to favor the downside, despite in the 1 hour chart, the RSI aims higher from oversold territory, as the price stands below its 20 SMA whilst the Momentum indicator heads lower 100”, commented Valeria Bednarik, chief analyst at FXStreet. “In the 4 hours chart the 20 SMA turned sharply lower well above the current level, whilst the technical indicators are fading its latest upward corrective movement near oversold territory”. May 04,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted May 4, 2015 Author Share Posted May 4, 2015 Gold prints fresh daily high at USD 1191.8/Oz FXStreet (Mumbai) - Gold prices rose to a fresh daily high of USD 1191/Oz in the early US session as the USD index erase gains and fell into losses. Gold testing hourly 200-MA The metal is currently trading around its hourly 200-MA located at USD 1191.8/Oz. Prices received a boost from the drop in the USD index ahead of the factory orders data. The USD index fell from a high of 95.78 to trade at 95.38 levels. The metal may extend gains over and above its hourly 200-MA in case the USD index extends losses on a weaker-than-expected factory orders print. Gold Technical Levels The immediate resistance is seen at 1192.00, above which gains could be extended to 1200.00. On the other hand, a break below 1186.5 could push the metal back to 1180.1. May 04,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted May 4, 2015 Author Share Posted May 4, 2015 DXY drops to lows, US data eyed FXStreet (Edinburgh) - The US Dollar Index, which tracks the greenback vs. its main competitors, is giving away initial gains and is currently testing the area of 95.20, or daily lows. DXY turns negative The index has reverted an auspicious start managing to climb to intraday tops beyond 95.60, although the up move lacked follow through, triggering the current knee-jerk. The USD is now posting meagre losses after the strong recovery last Friday, ahead of US Factory Orders due later, with prior surveys expecting a monthly advance of 2.0% during March. DXY relevant levels The index is now losing 0.05% at 95.25 and a breach of 94.50 (low May 1) would aim for 94.40 (low Apr.30) and then 94.06 (low Feb.26). On the upside, the initial hurdle lines up at 95.62 (high May 4) ahead of 96.18 (high Apr.29) and finally 96.93 (high Apr.28). May 04,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted May 4, 2015 Author Share Posted May 4, 2015 EUR/JPY bullish above 135 – FXMarketAlerts FXStreet (Barcelona) - The FXMarketAlerts Team gives the technical outlook and key levels for EUR/JPY, noting that the pair requires a move above 135 levels to see a bullish tone. Key Quotes “After halting at the 135~ target/ Jan-Feb high volume on Fri., the EUR's dipped a little this am. No strong top has been signalled yet, though, and with light volume featuring on the pull back today, a fresh push at 135 should follow shortly (butwill need to build above 135 to move us to bullish.)” “R3: 136.68 * 11, 12-Feb highs R2: 135.25 Fri high R1: 135.00 * Jan-Feb high volm S1: 133.85 Fri low S2: 131.50~ * end-Mar-Apr highs S3: 131.25 30-Apr low” May 04,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted May 4, 2015 Author Share Posted May 4, 2015 AUD/USD to test 0.75 if RBA cuts rates in tomorrow’s meeting – MarketPulse FXStreet (Barcelona) - With market expectations for a RBA rate cut in tomorrow’s meeting high, Dean Popplewell, Director of Currency Analysis and Research at MarketPulse, sees downside potential for AUD/USD towards 0.75. Key Quotes “The RBA meets tomorrow and the market is pricing in a +72% chance of a -25bps cut to +2%. Last week’s AUD move above AUD$0.80c would have alarmed the RBA.” “If the RBA cuts, watch whether the statement leave the door ajar for further cuts. If it does, the AUD outright should make tracks back down towards AUD$0.75c, its old stomping ground.” “Any hesitation by the RBA and the Aussie bears should come under considerable pressure, especially after last weeks selling interest that has established ‘hot’ money short positions north of AUD$0.80c.” “The upcoming decision is providing a headwind for the AUD currency with AUD/USD at 0.7830 just ahead of the NY morning.” May 04,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted May 4, 2015 Author Share Posted May 4, 2015 Key events ahead in China – BBH FXStreet (Barcelona) - The Brown Brothers Harriman Team previews the key data releases ahead in China, and further comments on easing expectations from the PBoC. Key Quotes “HSBC reports China April services and composite PMI Wednesday. HSBC final manufacturing PMI was softer than expected at 48.9 vs. 49.2 flash and 49.6 final in March.” “The trend of a softening Chinese economy seems well priced is, as are the prospects of more stimulus measures.” “We do not believe policymakers are embarking on a weak yuan policy. Indeed, PBOC fixed USD/CNY last week at the lowest level since December 17.” “China reports April trade data Friday, with exports seen up 2.6% y/y and imports seen down -10.3% y/y." "On Saturday Asia time, China reports April CPI and PPI, with the former seen up 1.6% y/y and the latter seen down -4.5% y/y.” May 04,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted May 5, 2015 Author Share Posted May 5, 2015 Chile IMACEC: 1.6% (March) vs previous 2% Read more in Forex News May 05,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted May 5, 2015 Author Share Posted May 5, 2015 Canada Trade deficit widened to record CAD 3 billion in March FXStreet (Mumbai) - The Canada trade deficit in March widened to a record high as the value of energy exports fell while the imports rose, with consumer goods imports rising sharply. The trade deficit in March rose to CAD 3 billion, compared to the estimate of CAD 0.8 billion. As per the data released by Statistics Canada, Energy exports fell by 8.9% to CAD 6.89 billion in March, including a 29.7% drop in refined petroleum products to CAD 855 million. On an annualized basis, energy exports were down 43.7%. Meanwhile, imports rose 2.2% to a record CAD 45.5 billion, mainly on account of a 7.9% jump in consumer goods imports. The previous month’s trade deficit was revised to CAD 2.22 billion from CAD 984 million on updated energy figures. May 05,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted May 5, 2015 Author Share Posted May 5, 2015 Betting on a lower GBP/JPY into UK election uncertainty – TDS FXStreet (Barcelona) - The TD Securities Team prefer staying short GBP/JPY in the short-term into election uncertainty, but remain bullish on GBP crosses into H2. Key Quotes “We believe the steepening in 2s5s and 2s10s could extend further for now. The MPC message will likely continue to sound evasive while global risks around the US and oil remain vague, not to mention near-term uncertainties around the UK general election.” “ECB buying and still low oil prices, however, are likely to help the long-end outperform, and expect 5s30s and 10s30s flattening from here.” “In FX, we like punting on a lower GBPJPY in the short-term as election uncertainty is the main market driver. But moving past the election period into the second half of the year, we like fading EURGBP rallies and buying GBPCAD dips.” May 05,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted May 5, 2015 Author Share Posted May 5, 2015 DXY bounces off 95.20 FXStreet (Edinburgh) - After bottoming in the area of 95.20, the US Dollar Index is now looking to regain the 95.30/35 band. DXY weaker on US data The index is giving away part of recent gains following the results from the US trade balance, where the trade deficit increased to $51.37 billion during March vs. $41.2 billion expected and $35.89 billion previous. The US Services sector will take centre stage next, with Markit’s Services PMI and the ISM Non-manufacturing due. The dollar is trading in red after two consecutive session of gains, looking to recover part of the ground lost following last week’s deep pullback. DXY relevant levels The index is now retreating 0.12% at 95.36 and a break below 95.04 (low May 4) would aim for 94.50 (low May 1) and then 94.40 (low Apr.30). On the upside, the initial hurdle lines up at 95.62 (high May 4) ahead of 96.18 (high Apr.29) and finally 96.93 (high Apr.28). May 05,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted May 6, 2015 Author Share Posted May 6, 2015 Outlook for FX majors – Littlefish FX FXStreet (Barcelona) - Analysts at Littlefish FX, give the outlook for FX majors, expecting a retest of 1.1350 levels in EUR/USD if the pair maintains above 1.1120/40. Key Quotes “EUR: While 1.1120/40 supports intraday expect retest and break of last weeks highs en-route to 1.1350” “GBP: While 1.5050 supports the advance expect a retest and break of 1.55 en route to 1.5560” “JPY: Rejected at the 120 descending trendline resistance offers a break and close above 120.50 opens April highs” “CAD: Bids at 120 continue to support on a closing basis, while this level survives anticipate a retest of 123/24 from below” “AUD: Offers at .8050 reject on the first attempt while .78 supports potential for another run at .8050” May 06,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted May 6, 2015 Author Share Posted May 6, 2015 USD/CAD 6M forecast at 1.23 – Rabobank FXStreet (Barcelona) - Expecting Fed to hike rates in December, Jane Foley, Senior Currency Strategist at Rabobank, now forecasts USD/CAD at 1.23 in 6 months and 1.25 in 9 months. Key Quotes “The market has inferred that the BoC is not positioning itself to follow its January ‘insurance’ interest rate cuts. This conclusion has added further support to the CAD. Together with the recent broad-based sell off in the greenback, the value of USD/CAD has plunged over 6% from its mid-March high.” “Canadian trade data for March highlighted a widening in the deficit to a record C$3 bln led by a slump in energy exports. These data should hamper further upside potential for the CAD although the outlook will remain dominated by oil prices.” “On the basis that we expect the Fed to hike rates in December this year, we expect USD/CAD will push higher again in the months ahead. That said, we have pared back our 6 mth USD/CAD forecast to 1.23 and 1.25 in 9 mths.” May 06,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted May 6, 2015 Author Share Posted May 6, 2015 EUR/NOK targets 8.00 by end of 2016 – BAML FXStreet (Edinburgh) - Analyst at BAML Myria Kyriacou sees the cross heading towards the 8.00 handle by the end of next year. Key Quotes “We maintain our EUR/NOK forecasts, targeting 8.30 by end-2015 and 8.00 at end-2016, but note that there is increased uncertainty, particularly at the front end of the path”. “The recovery in oil removes some of the urgency for the Norges Bank to act immediately”. “Conversely, NOK strength increases the possibility of easing, as does the latest Labor Force Survey unemployment data which showed increasing weakness in the labour market”. “We believe Norges will cut rates again in May or June, though a May cut is a close call, and we maintain a preference for June”. “In any event we expect a continued easing bias. However if the relative resilience in data continues and oil stabilises we may see expectations of more than one further rate cut this year gradually priced out. In the medium term, ECB QE will be beneficial for Norway, as well as pushing EUR lower”. May 06,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted May 6, 2015 Author Share Posted May 6, 2015 US Private sector added 169K jobs in March – ADP FXStreet (Mumbai) - The data released by the Automatic Data Processing, Inc, (ADP) showed the US private sector added far less jobs in April than the consensus estimate, thereby contradicting the Fed’s view that the jobs growth could remain robust despite slowdown in the first quarter. The ADP report showed private sector in the US added 169,000 jobs in April. Economists had called for the report to show private employers added 200,000 jobs in April, compared to 189,000 additions seen in March. Small sized firms (1-49 employees) added 94K jobs, Mid-sized firms (50-499 employees) added 70K jobs, and Large sized firms (500+ employees) added 5K jobs. Sector wise details reveal 170K jobs were added by the service industry, while the goods-producing sector shed 1K jobs in April. May 06,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted May 6, 2015 Author Share Posted May 6, 2015 GBP/USD struggles to extend gains on weak US data FXStreet (Mumbai) - The GBP/USD pair saw a minor jump to 1.5261 before falling back below its 10-DMA located at 1.5233 despite the weaker-than-expected monthly private sector job additions showed by US ADP data. Focus on UK elections The volatility in the GBP pair is on the rise ahead of the general elections in the UK, which may result in a hung parliament. Experts say the worst outcome is one of no overall majority and no coalition being formed, so either main party having to govern on a vote by vote basis. The polls have repeatedly shown two main parties- conservatives and labor – in a neck to neck race. It remains to be seen if the currency pair on Thursday emulates its more than 300-pip fall on election day back in 2010. GBP/USD Technical Levels The pair now trades at 1.5221. The immediate resistance is located at 1.5250, above which the pair could rise to 1.5315 (Feb. 17 low). On the other hand, a break below 1.5163 (10-DMA) could push the pair down to 1.5100. May 06,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted May 7, 2015 Author Share Posted May 7, 2015 USD/CHF recovers from 3-month lows FXStreet (Córdoba) - USD/CHF bounced off 3-month lows and erased intraday losses as the dollar was lifted by better-than-expected US initial jobless claims. USD/CHF briefly dropped below 0.9100 and scored its lowest level since Jan 29 at 0.9070 before turning higher. The pair has risen more than 100 pips over the last hours and reached a fresh daily high of 0.9175. At time of writing, USD/CHF is trading at 0.9170, now 0.15% above its opening price. US initial jobless claims stay near 15-year low The number of people applying for US unemployment benefits rose by 3,000 to 265,000 in the week ending May 2, beating expectations of 280,000 and holding near a 15-year low. The previous week print, unrevised at 262,000, was the lowest since 2000. USD/CHF levels to watch In terms of technical levels, USD/CHF could find immediate support levels at 0.9070 (daily low), 0.9040 (Jan 29 low). On the other hand, resistances are seen at 0.9200 (psychological level), 0.9278 (May 6 high) and 0.9350 (May 1 high). May 07,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted May 7, 2015 Author Share Posted May 7, 2015 SEB: USD/CAD sees a probable double-bottom - eFXnews FXStreet (Barcelona) - The eFXnews Team shares that SEB believes the markets have nailed a potential double-bottom for USD/CAD in the short-term picture. Key Quotes “Price/momentum divergence should be noted as the market has nailed a potential "Double-bottom" in the short-term picture. This may be enough to keep the still ascending 233day exponentially weighted moving average band (1.1825/1.1725) out of reach.” “But for confirmation of this setup, 1.2205 must be reclaimed. Follow-through to and beyond the 55day exponentially weighted moving average band (1.2250\1.2390) would also be good to see.” This content has been provided under specific arrangement with eFXnews. May 07,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.