OctaFX_Farid Posted September 24, 2014 Author Share Posted September 24, 2014 US new home sales expected to rise 5.6% in August - TD Securities FXStreet (Łódź) - Paul Fage, Senior Emerging Markets Strategist at TD Securities remarks that market attention will be focused on the US new home sales data today, following the disappointing existing home sales numbers. Key quotes "We look for new home sales to rise 5.6% to 435K in August." "The rise would offset some of the weakness seen in the prior month." OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Sep 24, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted September 24, 2014 Author Share Posted September 24, 2014 GB/USD declines as dollar picks up some pace FXStreet (London) - GBP/USD has declined through the session as the dollar gains some momentum after earlier consolidation from the dollar. USD struggling for momentum USD has been range-bound in recent trading. We heard some hawkish comments from Kansas Fed Esther George yesterday, but as a non-voting FOMC member, her comments failed to create many waves. Instead more attention is likely to be paid to Chicago Fed chairman Charles Evans and new Cleveland Fed President Loretta Mester when they speak today. GBP/USD is currently trading at USD1.6360, declining 0.2 percent on the session after earlier gains to USD1.6415. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Sep 24, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted September 25, 2014 Author Share Posted September 25, 2014 GBP/USD key support at 1.6275 - FXStreet FXStreet (Łódź) - FXStreet Chief Analyst Valeria Bednarik comments that GBP/USD's key support is now at 1.6275, representing the 38.2% Fibonacci retracement level. Key quotes "As commented several times on these daily updates, the weakness Pound may see on dollar strength will be far less important than EUR or JPY one as the BOE is also expected to rise rates sooner than later." "Technically, the 4 hours chart presents a mild bearish tone, with price below its 20 SMA and indicators heading lower into negative territory." "Having held for most of these last two weeks above the mentioned Fibonacci level, a clear break below it is required to confirm a new leg down, eyeing then an approach to 1.6220 price zone, where the pair presents multiple intraday highs and lows." "To the upside, the key resistance stands at 1.6340/50 price zone and approaches to the area may be seen as selling opportunities." OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Sep 25, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted September 25, 2014 Author Share Posted September 25, 2014 NZD/USD remains bearish – Westpac FXStreet (Edinburgh) - Analyst Imre Speizer at Westpac keeps the bearish outlook on the NZD/USD, now targeting 0.7915. Key Quotes “We have reached our year-end target of 0.8000 much earlier than expected but remain bearish”. “Channel support dating from November 2011 is currently at 0.7915, this being our next downside target”. “Should that break down, then the implications are dire”. “However, we’ll refrain from overly pessimistic forecasts for now, given how stretched the US dollar rally is”. “The dovish shift by the RBNZ has been fully priced into rates markets, so it’s hard to see carry dropping too much further”. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Sep 25, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted September 25, 2014 Author Share Posted September 25, 2014 USD/CHF hits fresh 14-month high above 0.9500 FXStreet (Córdoba) - USD/CHF extended gains and printed a fresh 14-month high Thursday as the greenback continues to strengthen across the board amid diverging rate outlooks between the Federal Reserve and other major central banks. While the Fed is expected to start its rate hiking cycle in 2015, speculations have been growing the Swiss National Bank could even set negative interest rates. USD/CHF rose for a second day in a row and broke above 0.9500 to hit its highest level since July 2013 at 0.9514 before easing back below 0.9500. At time of writing, the pair is trading at 0.9495, recording a 0.43% gain on the day. USD/CHF levels to watch In terms of technical level, immediate resistances are seen at 0.9514 (Sept 25 high), 0.9533 (Jul 15 2013 high) and 0.9600 (psychological level). On the other hand, supports could be found at 0.9452 (intraday low), 0.9390 (Sept 24 low) and 0.9354 (Sept 23 low). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Sep 25, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted September 25, 2014 Author Share Posted September 25, 2014 US: Durable Good Orders (Aug) dropped 18.2% FXStreet (Edinburgh) - The Commerce Department has informed that orders for US long-lasting goods have decreased 18.2% MoM during August vs. forecasts for a 18% decline and July’s 22.5% gain (revised). Excluding the Transportation sector, orders rose 0.7%, matching estimates and reverting the previous 0.7% drop. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Sep 25, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted September 25, 2014 Author Share Posted September 25, 2014 EUR/USD immune to US data FXStreet (Córdoba) - EUR/USD barely moved and continues to trade near the 1.2700 level following the latest string of US data which came mainly in line with expectations. US durable goods orders fell 18.2% in August versus an expected drop of 18% and following a 22.6% rise in July. Excluding transportation, orders rose 0.7% as expected. Meanwhile, initial jobless claims rose to 293K in the latest week versus 300K of consensus and following 280K registered the previous week. With data close to forecast, EUR/USD showed virtually no reaction and continues to hover around 1.2720, down 0.46%, having recovered from a fresh cycle low of 1.2696 scored earlier on the day. EUR/USD technical outlook “Current slide from 1.2864 high broke through 1.2820 lows and the general downtrend has been renewed, targeting 1.2630, en route to 1.2440”, said Stoyan Mihaylov, analyst at Deltastock.com. “Initial intraday resistance is seen at 1.2760, followed by the major hurdle at 1.2820 and crucial on the upside is 1.2900 zone”. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Sep 25, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted September 25, 2014 Author Share Posted September 25, 2014 BoE's Carney: Time for raising rates is getting closer, but no preset course FXStreet (Łódź) - Speaking at the Institute and Faculty of Actuaries General Insurance Conference in Wales, BoE governor Mark Carney signals that the time of the first interest rate hike is getting closer. • The economy is normalising. • There is no pre-set course for interest rate hikes, they are data dependent. • Once the rises start they will be limited and carried out in a gradual manner. • The BoE is conscious of risks stemming from a prolonged period of low rates. • Housing market is posing the biggest risks. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Sep 25, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted September 25, 2014 Author Share Posted September 25, 2014 GB/USD jumps to 1.6330 as time for rate increase 'is getting closer' FXStreet (San Francisco) - The pound is currently trading higher versus the US dollar as the pair is reacting to the upside following Bank Of England's Carney words that said that the time for interest rate to start to rise 'is getting closer.' Carney also commented that the UK outlook improved and interest rate case has become more balanced. However, the central banker considers that financial market may be mispricing risk. The GBP/USD is recovering ground after bounced at 1.6275 amid Carney's words and now it is testing the 200-hour MA at 1.6330. Currently, GBP/USD is trading at 1.6328, still down 0.07% on the day, having posted a daily high at 1.6344 and low at 1.6275. GBP/USD sentiment GBP/USD spot is in neutral territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bearish. "The pair lows today bottomed near the 50% of the move up in September at the 1.62867," points out Greg Michalowski from ForexLive. "The low from September 5th was also tested at the 1.62788. This is a good place for the pair to have bottomed." Michalowski affirms that "the bias is turning around." Above the 1.6330, next resistances are at 1.6350 and 1.6400. On the downside, 1.6775, 1.6250 and 1.6220 are supports. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Sep 25, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted September 25, 2014 Author Share Posted September 25, 2014 BoE's Carney: Low rates posing risk for housing and financial markets FXStreet (Łódź) - The BoE governor says that currently inflation is below target, after remaining above it for the last five years. • Rates are materially lower than in the past and could be fuelling risk on housing and financial markets. • Changes in interest rates will have an influence on the a highly indebted private sector. • Addressing insurers Carney draws their attention to capital levels and requirements. • Rules for hiring insurance officials will be revised, to be able to discipline them in case of misconduct. • The contribution of UK insurance industry to annual GDP is considerable at £25B. • It also creates 300,000 high-paying jobs. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Sep 25, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted September 25, 2014 Author Share Posted September 25, 2014 BoE's Carney: Time for rate hikes drawing near FXStreet (Łódź) - As expected, BoE governor Mark Carney signalled in his speech at the Institute and Faculty of Actuaries General Insurance Conference in Wales, that an interest rate hike was drawing near, but failed to give any more details, only adding that the move would be data dependent. Once the rises start they will be limited and carried out in a gradual manner, the BoE head stressed. "Headwinds facing the economy are likely to take some time to die down," he pointed out. "Demand in our major export markets remains muted. Public balance sheet repair is ongoing. And a highly indebted private sector is likely to be particularly sensitive to changes in interest rates." Carney assured however that the BoE is conscious of risks stemming from a prolonged period of low rates, especially for the housing and financial markets. As far as the UK insurance sector is concerned, the BoE will update regulation in order to be able to discipline insurance executives and actuaries in case of misconduct, such as it had been made possible in the banking sector. Following the comments GBP/USD climbed through the 1.6300 level to 1.6330. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Sep 25, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted September 26, 2014 Author Share Posted September 26, 2014 USD/JPY extends gains above 109.00 FXStreet (Edinburgh) - The greenback is now resuming its upside vs. the Japanese currency, pushing USD/JPY beyond the 109.00 handle and challenging session highs at the same time. USD/JPY higher post data, looks to US The JPY lost further momentum after the inflation figures in the Japanese economy showed results in general in line with market expectations, with the critical National CPI ex-Fresh Food advancing at an annual rate of 3.1%, pointing to some stabilization in the inflation. Ahead in the day, the US GDP annualized is due ahead of the Reuters/Michigan index, being the potential drivers for the pair’s price action throughout the rest of the session. “August CPI numbers were flat to softer than prior expectations and any resultant and heightened expectations for further BOJ initiatives may keep the JPY structurally vulnerable. In the near term however, potential risk aversion may serve to underpin the JPY within a 108.00-109.00 corridor”, suggested Emmanuel Ng, FX Strategist at OCBC Bank. USD/JPY levels to consider As of writing the pair is up 0.33% at 109.11 and a breakout of 109.37 (high Sep.25) would expose 109.46 (2014 high Sep.18) and finally 109.57 (high Aug.29 2008). On the flip side, the initial support lines up at 108.47 (low Sep.26) ahead of 108.46 (low Sep.24) and then 108.25 (low Sep.23). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Sep 26, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted September 26, 2014 Author Share Posted September 26, 2014 Gold turns lower but remains on track for weekly gains FXStreet (Córdoba) - Gold pulled back on Friday but remained on track for a small weekly gain after 3 weeks of losses. The yellow metal posted a fresh 2014 low at $1,206.84 on Thursday, but managed to recover ground as the slump in US stocks sent investors looking for safe-havens. However, the recovery attempt stalled at the $1,230 zone at the beginning of the European session. With the metal having retraced completely intraday gains, gold is currently trading at $1,220 an ounce, 0.1% below its opening price. Gold remains vulnerable near the $1,200 level as the greenback headed for an eleventh week of gains. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Sep 26, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted September 26, 2014 Author Share Posted September 26, 2014 ECB's Coeure optimistic on the next TLTRO take-up FXStreet (Łódź) - ECB Executive Board member Benoit Coeure assured at the IMF/Bank of Slovenia seminar on Friday that each of the upcoming, consecutive seven rounds of targeted longer-term refinancing operations should see a bigger take-up than the first one. As soon as the ECB's Eurozone banking sector probe is finalized , the financial institutions will be more disposed to provide credit, Coeure said. Furthermore, he suggested that nominal rates in the Eurozone would remain at low levels for an extended period of time, real interest rates should decrease. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Sep 26, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted September 26, 2014 Author Share Posted September 26, 2014 EUR/USD inches down after US GDP FXStreet (Córdoba) - EUR/USD inched lower and hit a fresh daily low as the greenback strengthened after the US Q2 gross domestic product was upwardly revised. The US economy grew at a 4.6% annual pace in the second quarter, matching consensus, up from the 4.2% previously estimated. This reading follows a 2.1% contraction in the previous quarter and is the best since mid 2009. EUR/USD gave up a few pips and hit a daily low of 1.2714 after the release. At time of writing, the pair is trading at 1.2715, recording a 0.27% loss on the day and headed for a fourth week of losses. EUR/USD levels to watch In terms of technical levels, EUR/USD could find next supports at 1.2697 (Sept 25 low), 1.2690 (Nov 16 2012 low) and 1.2660 (Nov 13 2012 low). On the flip side, resistances are seen at 1.2760 (intraday high), 1.2800 (psychological level) and 1.2845 (10-day SMA). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Sep 26, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted September 26, 2014 Author Share Posted September 26, 2014 USD/CAD clinches to 1.1130 post data FXStreet (Edinburgh) - The US dollar is now picking up pace against the CAD, lifting the USD/CAD back beyond the 1.1130 level. USD/CAD lifted on US GDP The pair is now accelerating the bounce off sub-1.1100 levels and remains poised to challenge earlier session peaks in the 1.1130/40 band following the positive reading from the US GDP, expanding 4.6% on a yearly basis, broadly in line with previous estimates. Further data also showed that inflation gauged by the PCE rose at an annual rate of 2.3%. According to Shaun Osborne, Chief FX Strategist at TD Securities, “failure to close above the 1.1125 level (76.4% retracement from the March-July move lower) for a third session in a row today after repeated attempts to break clear of that resistance level over the last three days, does call into question the willingness of the market to drive the price much higher in the short term”. USD/CAD key levels At the moment the pair is up 0.16% at 1.1128 with the next hurdle at 1.1170 (high Mar.26) ahead of the psychological level at 1.1200. On the downside, a break below 1.1053 (low Sep.24) would open the door to 1.1008 (Tenkan Sen) and then 1.0986 (low Sep.23). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Sep 26, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted September 26, 2014 Author Share Posted September 26, 2014 AUD/USD stalled at 0.8800 FXStreet (Edinburgh) - The AUD is now surrendering part of the recovery from session lows in the mid-0.8700s, dragging the AUD/USD back to the 0.8770/75 region. AUD/USD weaker after US docket The intraday rebound in the AUD was hampered by the results from the US docket, showing that the economy expanded in line with expectations 4.6% over the last twelve months in Q2; in the same line, headline consumer prices tracked by the PCE rose 2.3% YoY and Core prices gained 2.0%. “With global risk appetite levels still soggy, the pair is currently contemplating a break below the 0.8800 region with little of consequence till 0.8660 while 0.8840 may cap in the near term”, noted Emmanuel Ng, FX Strategist at OCBC Bank. AUD/USD key levels As of writing the pair is losing 0.07% at 0.8781 with the immediate support at 0.8730 (low Feb.4) ahead of 0.8695 (low Jan.31) and then 0.8678 (low Jan.27). On the flip side, a breakout of 0.8885 (high Sep.25) would expose 0.8897 (high Sep.24) and finally 0.8927 (high Sep.23). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Sep 26, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted September 26, 2014 Author Share Posted September 26, 2014 Busy week ahead for Australia - TD Securities FXStreet (Łódź) - Tim Davis, Vice President, Global Strategist at TD Securities reviews the most important Australian data releases next week. Key quotes "The week kicks off with the release of the RBA Credit Aggregates, TD forecasting a lift of 0.4% for August." "On Wednesday, House Price data for Sep will be released, and should garner more attention given the RBA’s attempts to jawbone house prices - we pencil in +1.5% for Sep." "Also out on Wed are August Retail Sales, TD forecasts a rise of 0.4% to reflect better consumer optimism." "Thursday should see the Trade Balance for August clock in a $500m deficit with risks of a better number on upside risks for exports while the volatile Building Approvals for August could decline by 2%." OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Sep 26, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted September 26, 2014 Author Share Posted September 26, 2014 Credit Agricole: New rules to limit US corporate tax inversions boost USD - eFXnews FXStreet (Łódź) - The eFXnews team remark that according to Credit Agricole USD's recent strength is partly due to the new US regulations aimed at limiting corporate tax inversions announced on Monday by Treasury Secretary Jack Lew. Key quotes "The inversions law announced this week aims to prevent US companies from relocating abroad to lower their tax liabilities (the US for instance has the highest corporate tax rate in the developed world at 35%, even though after deductions and other loopholes net tax payments are much lower)." "The announcement this week reflects a departure from that thinking but more important it also has forex market implications." "The introduction of the law drove in part some of the recent USD strength, especially against European currencies." "The law does not impact 'completed' deals but it will impact the possible outflow from 'pending' deals, which are close to USD150bln." "While some firms will complete the deal given the costs to cancel, we think the law will lead to less cross-border M&A outflows over time." "The result is higher net FDI flows and a more supportive USD backdrop, especially against GBP, SEK and CHF." '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 Sep 26, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted September 26, 2014 Author Share Posted September 26, 2014 US: Reuters/Michigan Consumer Sentiment Index rises to 84.6 in September FXStreet (Łódź) - The US Reuters/Michigan Consumer Sentiment Index grew to 84.6 in September, from 82.5 recorded the previous month, according to data released by the Reuters/University of Michigan. Analysts expected an increase to 84.7. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Sep 26, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted September 26, 2014 Author Share Posted September 26, 2014 EUR/USD trades below 1.2700 post US consumer confidence FXStreet (San Francisco) - The Euro broke below the 1.2700 level versus the US Dollar following the US Michigan consumer sentiment as the EUR/USD completed at a 70-pip drop from 1.2755 to lows around 1.2685. The US Michigan consumer sentiment rose to 84.6 in Sept; as previously informed. Expectations component was revised down to 75.4 from previously informed at 75.6. Currently, EUR/USD is trading at 1.2703, down 0.40% on the day, having posted a daily high at 1.2762 and low at 1.2689. EUR/USD spot is in oversold territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bearish. EUR/USD sentiment "The orderliness of this decline is its most remarkable feature. The magnitude is not that unusual, but the lack of bounces is the outstanding characteristic," comments Jamie Coleman from FXBeat. Supports are at 1.2660, 1.2630 and 1.2600. On the upside, resistances are at 1.2710, 1.2730 and 1.2760. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Sep 26, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted September 26, 2014 Author Share Posted September 26, 2014 Rupee jumps on S&P's revision of India's outlook up to stable - TD Securities FXStreet (Łódź) - Cristian Maggio, Head of Emerging Markets Research at TD Securities comments on the rupee's reaction to S&P' decision to upgrade India's outlook to stable from negative, while keeping the sovereign rating at BBB-. Key quotes "The outlook change reflects S&P’s view that 'India's improved political setting heralds a more conducive environment for reforms, providing a boost to growth prospects and the potential for improved fiscal management'.” "This statement is particularly significant as the sub-potential growth and wide fiscal deficit were previously citied as India’s major weaknesses and possible causes of downgrades." "The immediate reaction to the announcement was USDINR falling 0.5% to 61.08." "1m NDF moved in tandem with spot and is currently exchanged at 61.53, so still nearly half a percentage point below the levels prior to the S&P review." "This supports our view that the improving macroeconomic outlook will continue to bear positive effects on Indian asset pricing." "EM FX also seemed to recover on this event today." "At the same time, we are wary that changing expectations on the Fed’s resumption of monetary tightening could trigger further adjustments in the EM space in the coming months. For these reasons, we prefer RV strategies to trade the INR long leg." OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Sep 26, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted September 26, 2014 Author Share Posted September 26, 2014 GBP/USD bulls ducking for cover once again FXStreet (Guatemala) - GBP/USD is trading at 1.6266, down -0.32% on the day, having posted a daily high at 1.6335 and low at 1.6259. GBP/USD has taken a hit into lower levels that are becoming critical in the advent of the recent decline that had the bulls running for cover where lows at 1.6052 made us wonder if we were back towards 1.58/1.60 territory again. We are lower on a number of counts at the end of this week with essentially the greenback outperforming yet again, with indeed Yellen’s statements of late are being backed up. The US GDP was firstly revised up to 4.6% in the Q2 from previously reported of 4.2% but the final number was in line of expectations. That, however, was highest figure since Q4 2010 and the catalyst for a firmer greenback today. PCE was falling in line at 2.3% up on 1.4% previous and the, although missing expectations slightly, it rose to 84.6 in September up from 82.5 on the previous month. A solid ending to the week for a good performing US economy again. GBP/USD note worthy levels With spot trading at 1.6267, we can see next resistance ahead at 1.6275, 1.6282 (Daily Classic S1), 1.6290, 1.6309 (Hourly 20 EMA) and 1.6312 (Daily Classic PP). Support below can be found at 1.6259 (Daily Low), 1.6244 (Daily Classic S2), 1.6214 (Daily Classic S3), 1.6126 (Weekly Classic S1) and 1.6105. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Sep 26, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted September 26, 2014 Author Share Posted September 26, 2014 GBP/USD bulls ducking for cover once again FXStreet (Córdoba) - USD/CAD climbed to fresh cycle highs as the greenback was supported by in line with expectations US GDP and consumer sentiment data. USD/CAD extended gains and hit its highest level since March 26 at 1.1153 before easing a tad. At time of writing, USD/CAD is trading at 1.1145, up 0.33% on the day and recording a 1.64% weekly gain. USD/CAD technical levels In terms of technical levels, USD/CAD could find immediate resistance at 1.1170 (Mar 26 high) ahead of the psychological level at 1.1200. On the other hand, supports are seen at 1.1091 (Sept 26 low), 1.1052 (Sept 24 low) and 1.0985 (Sept 23 low). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Sep 26, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted September 30, 2014 Author Share Posted September 30, 2014 EUR/USD downward pressure seeing no end - FXStreet FXStreet (Łódź) - FXStreet Chief Analyst Valeria Bednarik notes that EUR/USD has fallen as low as 1.2570 on Tuesday, as Eurozone inflation data showed the risk of deflation in the Eurozone is still alive. Key quotes "The pair has reached extreme oversold readings in the hourly chart and bounced some, hovering around the 1.2600 figure early US session, still quite heavy according to technical readings, as per 20 SMA heading lower well above current price, momentum heading strongly south deep in negative territory, and RSI still at 23." "In the 4 hours chart 20 SMA capped the upside earlier on the day maintaining a strong bearish slope, while indicators head strongly south in negative territory, giving no signs of a possible upward correction." "Former low at 1.2660 should now attract sellers if reached, while a break below mentioned low should see the pair extending its decline down to 1.2540/50 price zone." OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Sep 30, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
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