OctaFX_Farid Posted March 25, 2015 Author Report Share Posted March 25, 2015 US durable goods orders fall more than expected in February FXStreet (Mumbai) - The data reported by the US commerce department showed today that orders for durable goods in February dropped unexpectedly by 1.2% after a 2% gain in January. The data missed the expectation of a 0.4% gain. Orders for non-military capital goods excluding aircraft, an indicator of future business investment, dropped 1.4%, its sixth consecutive decline. These orders were estimated to rise 0.3%. Nonmilitary capital goods excluding aircraft used to calculate GDP increased 0.2%, after falling a revised 0.4% in January. Business equipment spending climbed 0.9% last quarter, the weakest since January-March 2014. A rebound in business investment (Nonmilitary capital goods excluding aircraft) is slightly positive, and may provide lift to the economy. Other than this, the other details are disappointing. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 25,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! GBP/USD: fresh session high and retreat FXStreet (Mumbai) - The GBP/USD pair rose to a fresh session high of 1.4952, before retreating slightly to 1.4927 after the details of the durable goods orders reports revealed an up tick in rebound in business investment. Rise in business investment could support USD The USD made a slight comeback after the details of the report showed the Nonmilitary capital goods excluding aircraft (business investment) used to calculate GDP increased 0.2%, after falling a revised 0.4% in January. Moreover, a rebound in business investment is slightly positive, as it may provide lift to the economy. The pair had shot higher to 1.4952 immediately after the release of an unexpectedly weak headline figure - -1.2% in February after a 2% gain in January. GBP/USD Technical Levels The immediate resistance is seen at 1.4952, above which the gains could be extended to 1.4984. On the flip side, a break below 1.49 could push the pair down to 1.4850 levels. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 25,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! EMU’s PMI to keep the upside – Danske Bank FXStreet (Edinburgh) - According to analysts at Danske Bank, the upside trend in EMU’s PMI could extend its momentum in the upcoming periods. Key Quotes “Manufacturing PMI increased from 51.0 in February to 51.9 in March and is now at the highest level since May 2014. “The details behind the improvement were good and suggest further progress in coming months. The increase is due to higher new orders, which rose from 51.0 in February to 52.2 in March mainly driven by domestic demand as new export orders increased less”. “Stocks of finished goods continued to decline, which means the order inventory balance suggests further improvement in the manufacturing PMI going forward. It currently signals that PMI manufacturing will increase to around 55.0”. “The higher manufacturing PMI likely reflects stronger domestic demand in the euro area as uncertainty fades, while exporters benefit from the weaker euro”. “Improved bank lending is also supporting the recovery, in contrast to previous years”. “Our model for composite PMI, new orders, which is based on real M1 growth and the effective euro, also suggests the PMIs will continue to increase in coming months”. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 25,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted March 26, 2015 Author Report Share Posted March 26, 2015 USD correction likely to be limited and temporary – BTMU FXStreet (Barcelona) - The Team at Bank of Tokyo-Mitsubishi UFJ, views that the current USD correction might be limited as the strengthening of the greenback is still not complete. Key Quotes “The US dollar is still correcting lower following last week’s more dovish than expected FOMC’s meeting. The US dollar has been undermined by the decline in US yields as more gradual tightening is discounted.” “We remain comfortable with our view that the US dollar’s strengthening trend is not yet complete. US dollar strength could even overshoot relative to the economic fundamentals”. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 26,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! AUD/USD forced below 55 DMA; problematic for bulls FXStreet (Guatemala) - AUD/USD is currently trading at 0.7840 with a high of 0.7840 and a low of 0.7799. AUD/USD has been supported as across the board of commodity currencies, there is strength on the back of oil bouncing yesterday. However, today is a slightly different story with supply coming back in to the sector and $50 for WTI being a psychological number, bulls were finding it tough territory to hold on in there while the initial fears for escalating problems in the oil exporting nations have calmed somewhat vs the initial knee jerk reaction. We have had some upbeat US data of late also which may be putting the US jobs numbers in to good light next week, strengthening the US dollar. Today, initial jobless claims beat expectations as did Markit Service PMI's. Technically, the major is back below the 55 day MA at 0.7851 which brings back the downside in to view and the two month support line at 0.7534 could be the bears target should 0.78 give way to 0.7740 and on to and through 0.7620. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 26,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Canadian dollar in a technical snapshot - TDS FXStreet (Guatemala) - Analysts at TD Securities offered the Canadian dollar in a technical snapshot. Key Quotes: "USD/CAD's intraday bounce stalls at 1.25; medium-term technical backdrops remains negative – look to fade USD gains and for losses to extend below major support at 1.2360." "EUR/CAD rise capped, may turn lower again." "AUD/CAD rally fades, trend still positive – just." "GBP/CAD retains a weak bias – we look for a 1.83 test still." "CAD/JPY stuck in a sideways range trade." OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 26,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted March 27, 2015 Author Report Share Posted March 27, 2015 “SNB will intervene in the foreign-exchange market as necessary” – SNB’s Zurbruegg FXStreet (Mumbai) - Swiss National Bank (SNB) board member Fritz Zurbruegg said on Thursday that the country’s central bank is prepared to purchase foreign currencies if needed, as the franc remains “significantly overvalued.” Key Quotes: The SNB's decision to remove the franc's cap “doesn’t mean that we will simply be a passive observer”, “(SNB) will intervene in the foreign-exchange market as necessary in order to influence monetary conditions.” “Sustained negative inflation, or even a deflationary spiral -– a negative feedback loop involving an economic downtrend and falling price levels -– is thus not expected,” Negative rates “will certainly pose a challenging phase” for the Swiss economy. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 27,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! SNB keeps looking to ‘unconventional’ methods regarding strong CHF – Danske Bank FXStreet (Edinburgh) - In the opinion of Christin Tuxen, Senior Analyst at Danske Bank, recent comments by SNB officials remarked the possibility of further actions by the SNB in order to quell the franc’s strength. Key Quotes “The two speeches from SNB board members last night are also worth noting”. “Board member Zurbrügg said after commenting on the discontinuation of the EUR/CHF floor that negative rates are having the desired effect in Switzerland and that rates will take a more prominent role in monetary policy”. “However, he did reiterate the SNB’s stance that the CHF is significantly overvalued and that it should weaken over time and that the SNB will continue to intervene as deemed necessary”. “Notably he twice made references to the effective CHF rate, which may fuel speculation that the SNB is looking at the CHF against a basket of currencies now”. “The fact that Zurbrügg reiterated comments from alternate board member, Thomas Moser, earlier this week that the SNB is looking at the IMF suggestion of buying foreign-currency assets, suggests that the SNB is not in pure wait-and-see mode as last week’s meeting may have suggested”. “Also, at the same event yesterday, another alternate board member, Dewet Moser, said that the SNB will ‘continue to deploy unconventional methods’ to fight CHF strength”. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 27,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! US Q4 GDP expected to be revised higher – BBH FXStreet (Barcelona) - The Brown Brothers Harriman Team, previews today’s US data releases – US Q4 GDP revision, and University of Michigan's March consumer confidence numbers. Key Quotes “US Q4 GDP is expected to be revised slightly higher to 2.4% from 2.2%. Personal consumption, which may be more important for policy makers than the overall economic growth is expected to be revised to 4.4% from 4.2%. The softer consumption data in Q1 15 should be placed in that context.“ “In addition, the University of Michigan's final March consumer confidence figures will be reported. In addition to the headline, the inflation expectations component will be scrutinized. The long-term expectation (5-10 years) is at 2.8%. With a brief exception, it has been between 2.7%-2.9% since the end of 2013.” “The Fed has seemed to emphasize this over the market-based measures though as we noted yesterday, US 10-year breakeven rates are rising.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 27,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted March 27, 2015 Author Report Share Posted March 27, 2015 USD rally might see a pause – TDS FXStreet (Barcelona) - FX Strategists at TD Securities, view that the next few weeks might see a pause in USD’s rally and a drop in FX volatility. Key Quotes “Despite the pop in the USD into the end of the week, we continue to think the broader rally will pause in the next few weeks. If it does, it is likely that major FX vol will ease back as well.” “Choppy markets have prompted some market participants to head for the sidelines in the past week but calmer markets may be at hand.” “We ran a quick and dirty study of the seasonality in FX volatility and found that JPM’s Global Volatility Index also experiences a seasonal quirk moving into Q2; 18 of the last 20 Aprils have seen FX vol fall by this measure and the month is easily the worst month of the year for vol performance over the year.” “Our rolling studies show that the USD has a relatively strong, positive correlation with JPM FX vol index (+62% on a rolling 1-month window) while EUR and the GBP are similarly negatively correlated currently. It looks as if a dip in the USD and a modest slide in vol will go hand in hand over the next few weeks.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 27,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! What to expect from Yellen? – BBH FXStreet (Barcelona) - Mark Chandler, Global Head of Currency Strategy at Brown Brothers Harriman, suggests that markets should anticipate more of the same wordings from Yellen from her previous speech. Key Quotes “In her Congressional testimony last month, Yellen strongly hinted that the Federal Reserve would lose its "patience" in its forward guidance. She cautioned that this was not to be understood as a signal an imminent rate hike at the next meeting” “The Fed is looking for an opportunity to begin to normalize monetary policy. Given the size of its balance sheet, and the excess reserves it created, changing monetary policy presents operational challenges, which is another reason to expect to move slowly and cautiously.” “As many observers perceived the Fed more dovish than we think it is, they also perceive the Fed to be more concerned about the dollar than we think it is.” “Given its recent substantial moves against most currencies, it only stands to reason that officials would be watching it more closely.” “We think many have confused watching closely with being concerned. There had been some speculation that the FOMC statement would mention the dollar's strength, but it did not. There was a reference to the slowing exports, but this is an objective description, not a prediction.” “And when asked, Yellen did say that the strength of the dollar was one of the factors. No one pressed her about other factors in addition to the dollar that weighed on exports. If they did, Yellen would likely to have explained how the European and Japanese economies were weaker than expected and that the Chinese economy was slowing." “So what to expect from the soft-spoken Yellen? More of the same, but listen closely. “ OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 27,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! GBP/USD might shift to neutral levels, but political risk exists – Scotiabank FXStreet (Barcelona) - Camilla Sutton CFA, CMT, Chief FX Strategist at Scotiabank, views that GBP/USD might plot fresh lows in the near-term, but shift to more neutral levels later, the outlook being highly dependent on how the UK election scenario works out. Key Quotes “GBP is up 0.4%, outperforming all the major currencies into the NA open, but still within its recent range.” “Governor Carney, speaking for potentially the last time into the May 7th election, reiterated that the next interest rate move will be higher. However, the uncertainty around the upcoming elections is an important risk for GBP and with the upcoming schedule of debates and interviews it will be hard for markets to ignore.” “GBP is likely to trade within a range, with the threat of fresh lows in the near-term; but eventually shift back towards move neutral levels.” “However this is dependent on how the new government (or coalition) lands in terms of the outlook for the EU referendum, the devolution potential (shifting of sovereign state power to the subnational level) and fiscal plans, particularly revenue/spending and austerity.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 27,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted March 30, 2015 Author Report Share Posted March 30, 2015 NOK/SEK points north in the near term – TDS FXStreet (Edinburgh) - Strategists at TD Securities expect the Nordic cross to inch higher in the near term. Key Quotes “NOKSEK rallied hard from 1.0360 last week, right where we expected the slide to base when we looked at this cross earlier in March, forming bullish daily and weekly reversal signals in the process”. “The NOK rebound has stalled at the 61.8% Fib retracement of the February/March decline (40-day MA resistance also) this week. But losses have been limited and, on the basis of last week’s gains alone, the technical bias is geared towards more NOKSEK gains in the near-term”. “A clear move above the 40-day MA (1.0851) should allow for more near-term NOK out-performance at least and a test of long-term trend (off the 2008 high) resistance at 1.1171”. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 30,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! GBP/USD sees scope to test 1.4690 – FXStreet FXStreet (Barcelona) - With technicals suggesting the strong bearish momentum for GBP/USD is building, a move towards 1.4690 might be possible on a break below 1.4730, explains Valeria Bednarik, Chief Analyst at FXStreet. Key Quotes “The 4 hours chart shows a strong bearish momentum coming from technical readings, as the price retraces from a bearish 20 SMA, currently around 1.4860.” “Nevertheless, as long as below 1.4800, the downside is favored towards the next strong static support level at 1.4730, whilst if below this last, the downward potential may accelerate towards 1.4690.” “Above 1.4800 on the other hand, the pair may advance up to the mentioned 1.4860, with selling interest probably surging near the level.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 30,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Personal income in the US rose 0.4% in February FXStreet (Mumbai) - The data released by the US department of commerce on Monday showed personal income rose 0.4% in February compared to the expectation of a 0.3% rise. The personal income rose 0.4% in January. The personal spending in February rose 0.1% month-on-month, compared to the expectation of a 0.2% rise. Personal spending had suffered a drop of 0.2% in January. Meanwhile, core personal consumption expenditure (PCE) - price index was a touch higher at 1.4% year-on-year in February, compared to 1.3% in January. Month-on-month core PCE rose 0.1% in February. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 30,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted March 31, 2015 Author Report Share Posted March 31, 2015 Long GBP/USD, target 1.5000 – GrowthAces FXStreet (Barcelona) - With GBP/USD pressured by election uncertainty, the Growth Aces Research Team remains bullish on the pair, expecting a soft US NFP to push the pair higher towards 1.5000 levels. Key Quotes “The GBP is weakening against the USD despite good Britain’s GDP data. However, the GBP appreciated against the EUR after the release and the EUR/GBP fell to a low of 0.7256.” “The GBP is still under pressure of political uncertainty. Britain holds a parliamentary election on May 7 and the latest opinion polls point to a hung parliament in which no single party can form a government on its own.” “A broad USD strength poses a risk to our long GBP/USD position. However, we stay long. The target is likely to be achieved in case of weaker U.S. non-farm payrolls on Friday.” “Resistance: 1.4817 (hourly high Mar 31), 1.4901 (high Mar 30), 1.4923 (high Mar 27)” “Support: 1.4752 (low Mar 30), 1.4722 (low Mar 20), 1.4689 (low Mar 19)” “GBP/USD: long at 1.4820, target 1.5000, stop-loss 1.4740, risk factor ***” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 31,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! NZD/USD might end 2015 at 0.68 – BAML FXStreet (Barcelona) - Yang Chen, Rates Strategist at BofA-Merrill Lynch, explains that NZD strength might lead the RBNZ to shift to an easing bias, and further expects AUD/NZD to remain range-bound in the near term and NZD/USD to end the year at 0.68. Key Quotes “The RBNZ’s neutral stance at its March monetary policy meeting (RBNZ on hold with a gradual evolution policy,12 March), together with a relatively dovish Fed, make the NZD one of the two major currencies globally that appreciated the USD over the past month (the other being the CNY). This sent the trade weighted index to the upper bound of the 75-80 range it remained since Aug 2014.” “There remains a risk of the RBNZ shifting to an easing bias if the NZD remains strong, in our view. In the March MPS, the RBNZ switched to a flat 90d bill forecast, as opposed to gradually higher rates, which is a big change.” “The RBNZ has lowered its 1Q15 inflation forecast to 0%, and the key is whether current low inflation will pass on to the inflation expectations. Hence, the 1Q CPI inflation figure (on 20 April) and OCR meeting (on 30 April) will be critical for the evolution of NZD/USD going forward.” “We retain our forecast for the NZD/USD at 0.68 by the end of the year.” “AUD/NZD looks undervalued relative to their respective economic surprise index, but the pair will likely trade range bound for now with a neutral RBNZ and lack of data prior to late April.” “The risk to our view is an aggressive easing from the PBoC, especially in the housing market, which should benefit AUD more than the NZD.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 31,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! USD/JPY flirting with 120 – Scotiabank FXStreet (Barcelona) - Camilla Sutton CFA, CMT, Chief FX Strategist at Scotiabank, shares the key developments in the Japanese market, and further comments that the upcoming risk for USD/JPY is the Tankan survey, to be released later in the day. Key Quotes “USDJPY is flat to yesterday’s close, hovering close to 120.” “The upcoming risk for JPY is today’s release of Tankan (7:50pm EST), which is expected to show an improvement in both the manufacturing index and outlook.” “News flow today was mixed. Japan Post has cut its planned purchases of JGB’s almost in half from FY14, targeting purchases of just ¥14trn; while a planned corporate income tax cut of 3% was approved by Parliament.” “Governor Kuroda reiterated that the BoJ expects to reach its 2% inflation goal in FY2015 but there are always uncertainties.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 31,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted March 31, 2015 Author Report Share Posted March 31, 2015 GBP/USD struggles to rise above 1.48 FXStreet (Mumbai) - The GBP/USD pair was rejected by 1.58 levels for the second time today, despite the upward revision of the Q4 2014 GDP and a fall in Q4 current account deficit. GBP lacks support of Gilt yields Despite the upward revision of the Q4 GDP the Gilt yields are trading moderately lower. The 10-year Gilt yield in the UK has weakened to 1.572% from the high of 1.6%. Consequently, the British Pound has been unable to capitalize on the positive economic data. So far, the pair has managed to sustain above 1.4750 levels as the Treasury yields have weakened as well. An upbeat US consumer confidence and Chicago PMI data due later today, could drive the pair to fresh session lows. GBP/USD Technical Levels The immediate resistance is seen at 1.4819, above which gains could be extended to 1.4878 levels. On the flip side, a break below 1.4749 could drive the pair lower to 1.47 levels. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 31,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted April 1, 2015 Author Report Share Posted April 1, 2015 GBP/USD bearish tone prevails – FXStreet FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet, notes that GBP/USD requires a break below 1.4750 to confirm further intraday declines. Key Quotes “Technically, the 1 hour chart shows that the price erased half of its intraday losses, still well below its 20 SMA around 1.4830, whilst indicators recover from oversold levels but remain in negative territory.” “In the 4 hours chart the bearish tone prevails with the price developing below its 20 SMA and the technical indicators below their mid-lines.” “Renewed selling interest below the 1.4750 however, is required to confirm further intraday declines, particularly if the price remains capped below the mentioned 1.4830 price zone.” “Support levels: 1.4750 1.4710 1.4660” “Resistance levels: 1.4830 1.4990 1.4900” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 01,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted April 1, 2015 Author Report Share Posted April 1, 2015 US: ISM manufacturing PMI declines for fifth month in a row FXStreet (Córdoba) - US manufacturing sector expanded but a slower pace in March according to the Institute for Supply Management (ISM). ISM manufacturing PMI fell to 51.5 in March from 52.9 printed in February and missing consensus of 52.5. Although the sector is still expanding (reading above the 50.0 threshold), the pace has been slowing for fifth month in a row, sending the index to the lowest level in almost two years. Just a few minutes before the ISM, Markit reported its own manufacturing PMI which rose to 55.7 from 55.1 in February. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 01,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! NZD/USD recovers to 0.7440 FXStreet (Mumbai) - The NZD/USD pair, which fell on disappointing Fonterra global diary trade auction, managed to recover back to 0.7440 on the disappointing US manufacturing PMI data. Gains capped by fall in GDP price index The pair recovered to trade at 0.7440 from the low of 0.7710 on a weaker-than-expected US ISM manufacturing figure, however, the gains could be capped by a 10.8% fall in the global dairy trade price index at the latest Fonterra auction. The weakness in the dairy prices could weigh on the Kiwi, thereby limiting gains arising out of a weak ADP employment report and PMI manufacturing report. NZD/USD Technical Levels The immediate resistance is seen at 0.7465 (50-DMA), above which gains could be extended to 0.7489. On the flip side, support is seen at 0.7410, under which losses could be extended to 0.7371. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 01,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Treasuries: risks skewed to the downside – RBS FXStreet (Barcelona) - With treasuries closing the bearish gap and seeing a barrier at 129-00, Dmytro Bondar, Technical Analyst at RBS, believes that the next move would be lower towards 127-19 onto 126-18 and 126-00. Key Quotes “Risks remain skewed to the downside after the break above the trendline on the yield chart and the formation of a bearish outside session on the futures price chart, which, contrary to Bunds charts, indicated downside risks for the market.” “The breakaway gap at 128-26 was closed, but the 129-00 resistance proved to cap further rallies, as was expected. My bias was that there may be another push higher towards 129-00, but ultimately decline to 127-19+ onto 126-18+ and 126-00.” “The push higher has already occurred. With level unbroken, it is now time to expect price decline.” “A sustained break above 129-09 would require the view re-assessed, while a break above 129-29 cancels the view+.” “Strategy: keep short from 128-29+ for 127-31 onto 127-00, stop 129-29” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 01,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted April 2, 2015 Author Report Share Posted April 2, 2015 EUR/JPY poised to drop towards 128 – SG FXStreet (Barcelona) - Technical Analysts at Societe Generale, view that EUR/JPY is set to make a move lower towards 128 and even 126. Key Quotes “The rebound in EUR/JPY during the second half of March appears to have faced resistance near 131.80, the 34-day MA and the 50% retracement from the February high.” “With the daily RSI retracing from a resistance, the pair looks poised to drift towards 128 and probably even towards the previous low of 126.” “It is noteworthy that the pair is undergoing an extended correction after violating a multi-year upward channel.” “The weekly RSI is hovering close to a support, indicating 126 as a key level. A break below will mean the next leg of correction towards 122.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 02,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted April 2, 2015 Author Report Share Posted April 2, 2015 DXY likely to test/break 95 in 4-6 weeks – BAML FXStreet (Barcelona) - Strategists at BofA-Merrill Lynch, remain of the view that Q2 might bring some downside surprises to the USD strength, and further note that Volatility remains the ‘but the dip’ trade of 2015. Key Quotes “Some reversal in the US dollar would not be a surprise. The Feb "blinked" in March because of the risks associated with a disorderly dollar surge.” “DXY likely to test/break 95 in next 4-6 weeks; this suggests bear market rallies in commodities, resources, EM et al. This already hinted at by recent favourable reversal in world's most contrarian pair trade: long PBR, short HD. Tactics aside we remain structurally bullish the US dollar.” “We remain a buyer of volatility (so at margin add to gold and cash). Without doubt the key Q2 call is can the US economy recovery its mojo (i.e. Q2 GDP pops >3%) or not (GDP for 3rd consecutive quarter fails to break much above <2%).” “Big GDP...Fed hikes get priced-in. Small GDP ..."secular stagnation" back in play, investor "buyers strike" in overvalued corporate bonds and equities.” “In either scenario, volatility performs well. Vol remains the "buy the dip" trade of 2015.” “Lower exposure to spread product. BAML house view is US GDP >3.5% Q2. This likely to put upward pressure on bond yields as June/Sept in play for hike. In turn this is likely to widen spreads across corporate bonds, a trend that at any moment can be exacerbated by latent investor fears on market liquidity, speculative excesses in "yield" products, and levered ETF risk parity strategies.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 02,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! US Trade deficit fell 16.9% in February FXStreet (Mumbai) - The commerce department in the US reported a drop of 16.9% in the US Trade deficit to USD 35.4 billion in February. In January, the deficit stood at USD 42.7 billion. The sharp fall in the deficit was mainly due to a USD 10.2 billion drop in Imports. The drop in the imports was mainly due to west coast ports dispute that interrupted the flow of 20% of imports. The dispute blocked imports from China and Japan, leading to a fall in trade deficit with both countries. Meanwhile, strength in the USD also led to weak exports. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 02,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! USD/CAD to hold the 1.2350 support – Westpac FXStreet (Barcelona) - Richard Franulovich of Westpac, expects that with USD pullback risks in sight, USD/CAD might exhibit a dovish tone. Key Quotes “USD/CAD looks like it may well continue for another week inside what is now a near two month range bounded by 1.2350 and 1.2850.” “Heightened near term risk of a broader USD pullback, as the US data continues to disappoint and the FOMC minutes expand on the last meeting’s dovish tilt could see USD/CAD easily testing the bottom of recent ranges. Suspect the lows will hold.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 02,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted April 3, 2015 Author Report Share Posted April 3, 2015 Greek debt market discounting an elevated risk of default – BTMU FXStreet (Barcelona) - The Bank of Tokyo-Mitsubishi UFJ Team, comments that the ongoing negotiations between Greece and its creditors remains frustratingly slow, and with IMF loan repayment near, the Greek government debt market has been discounting for an elevated risk of default. Key Quotes “The ongoing negotiations between the Greek government and its international creditors continue to remain frustratingly slow. The latest list of economic reforms submitted by the Greek government has shown progress but still fails to fully satisfy the Brussels Group. Negotiations will continue in the week ahead.” “The Greek government is running out of time to secure financing. An IMF loan repayment totaling EUR458 million is due on the 9th April. The Greek government debt market is currently discounting an elevated risk of default.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 03,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! USD/CHF to make a new high – EW-Forecast FXStreet (Barcelona) - Gregor Horvat of EW-Forecast, uses Elliott Wave Analysis to predict that USD/CHF might make a new high after finding support on correction near 0.9400. Key Quotes "USDCHF has recently move up to the levels from January highs so we assume that new swing high could be seen, especially if we consider ongoing impulsive count from January lows. Ideally pair is making a big wave C) up on weekly chart that can stop somewhere around 1.0500.” “As such, at the moment current downward move can be a corrective fourth wave that will be looking for a base near 0.9400.” “An impulse up from that region will put new highs in play, but for now we see that latest minor rally was made in three waves, so it's probably wave B) as part of a second zigzag.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 03,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Credit Agricole: JPY sees upside risk into next week’s BoJ policy announcement – eFXnews FXStreet (Barcelona) - The eFXnews Team shares Credit Agricole’s view that JPY might see upside risk into BoJ’s policy announcement scheduled next week, and further suggest remaining short CHF/JPY. Key Quotes “When it comes to the BoJ investors’ focus turns to next week’s monetary policy announcement. Although growth and price developments weakened of late there appears to be little scope of the central bank considering a more aggressive policy stance.” “This is especially true as central bank Governor Kuroda continuously stressed during the last few weeks that inflation is likely to slow further before accelerating in the second half of the year. If anything that suggests that they will continue to monitor incoming data before deciding on additional measures.” “Under such conditions we expect the JPY to still be driven by global risk sentiment. Well supported Fed rate expectations, intact uncertainty as related to Greece and unstable Asian growth conditions should be factors keeping investor demand for risk assets limited.” “As such the currency may be subject to upside risk still, at least against currencies such as the EUR and CHF. As a result of the above outlined conditions we remain short CHF/JPY.” 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 Apr 03,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted April 3, 2015 Author Report Share Posted April 3, 2015 GBP/USD drops in choppy trade FXStreet (Mumbai) - The British Pound weakened in a quiet day of trade, taking the GBP/USD pair below 1.4820 levels, which is also a 61.8% Fib retracement of the move from 1.4633-1.5122. GBP/USD: Awaits Non-farm payrolls data The pair awaits the US March non-farm payrolls report, which is likely to show the US economy added 245K jobs compared to 295K additions see in February. The pair clocked a high of 1.4839, before falling below the 5-DMA located at 1.4822. The pair has been stuck largely in the range of 1.4870 to 1.4740 since the beginning of the current week. A breakout from the range could be expected after the release of the payrolls data in the US later today. GBP/USD Technical Levels The immediate resistance is seen at 1.4820, above which gains could be extended to 1.4870. On the flip side, a break below 1.48 could push the pair lower to 1.4749. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 03,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! IMF COFER: Central banks actually bought Euro modestly during this decline – BTMU FXStreet (Barcelona) - Reviewing the IMF COFER FX reserves data, the Bank of Tokyo-Mitsubishi UFJ Team, believes that the decline in nominal percentage terms doesn’t tell the true story for the euro, as after stripping out the EUR’s depreciation, an argument can be made that central banks have in fact bought USD 17bn worth of the euro. Key Quotes “By our calculations, when stripping out the euro depreciation effect, global central banks were modest buyers of euros in Q4, to the tune of USD 3.6bn worth. In fact over 2014 as a whole, central banks bought USD 17bn worth.” “Still, given the scale of the drop in EUR/USD in H2 2014 and given that central banks have a tendency to buy the euro on dips, an argument can still be made that sentiment is turning against the euro.” “Indeed, the last time when EUR valuations were so negative – Q1 & Q2 2010 – central banks were heavy buyers of the euro and that was when the Greek crisis was escalating. When the euro plunged in Q1 & Q2 2010, central banks bought a huge USD 184bn worth.” “There is certainly a case to be made that the compression in yields, perhaps coupled with uncertainty over Greece, is fuelling a major shift in central banks’ willingness to hold the euro.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 03,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted April 3, 2015 Author Report Share Posted April 3, 2015 Market pushing expectations for Fed’s hike into Q4 – BBH FXStreet (Barcelona) - “The US March employment report makes for dismal reading”, quotes the Team at Brown Brothers Harriman, as they review the US jobs data release, and comment on the shift in market expectations surrounding Fed’s rate lift-off. Key Quotes “Job growth collapsed to 126k, the lowest monthly total since December 2013. Adding insult to injury, there was a 69k downward revision to this year's job growth. The average work week slipped 0.1%, which may not sound like much but suggests a significant drag on output.” “One of the few bright spots in this otherwise poor report was the 0.3% rise in hourly earnings. Yet, the 2.1% year-over-year pace is still disappointing relative to past cycles. The participation rate eased back to 62.7%.” “The unemployment rate was flat at 5.5%, but the underemployment rate slipped to 10.9% from 11.0%.” “The pendulum of market expectations had already pushed the Fed's lift off into Q4. It is possible that it is pushed into 2016.” “However, we suspect that while Fed officials will take note of today's report, short-term market participants are likely to put more stock in the high frequency data than the central bank.” “The speculative community remains very long US dollars, and position squaring will likely see the Q1 trend consolidate and correct here at the start of Q2.“ OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 03,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted April 3, 2015 Author Report Share Posted April 3, 2015 USD weaker post NFP aftermath – TradeTheNews FXStreet (Barcelona) - The TradeTheNews Team gives the update for the key developments post US NFP data release – rate hike expectations, impact on FX and yields. Key Quotes “The USD was broadly weaker in the aftermath of the disappointing Mar jobs data. The market now debating whether the Fed would hike rate at all in 2015.” “The EUR/USD was back above the 1.10 level and within striking distance of electing buy-stops building above the 1.1050 area (post-FOMC highs in late March).” “The greenback dipped below the 119 handle against the yen in thin market conditions.” “The US yields slumped in reaction to the miss in the US employment report. The 10-year US govt bond yield fell by 11bps to test below 1.805% level.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 03,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted April 6, 2015 Author Report Share Posted April 6, 2015 EUR/USD back below 1.1000 FXStreet (Edinburgh) - After and adventure to the area of 1.1040, EUR/USD is now shedding earlier gains and returning to the 1.0990 neighbourhood. EUR/USD still capped by 1.1050 The 1.1050/60 band is proving to be quite a tough barrier for EUR-bulls so far, with spot keeps being rejected from that area and feeding speculations that a top might have taken place. In the meantime, and with Euroland on holidays due to Easter Monday, mixed data releases in the US economy failed to lend a long-lasting support to the pair, which found itself struggling to overcome the mid-1.1000s. EUR/USD key levels At the moment the pair is advancing 0.08% at 1.0987 and a breakout of 1.1036 (high Apr.6) would open the door to 1.1052 (high Mar.26) and finally 1.1062 (high Mar.18). On the other hand, the immediate support lines up at 1.0867 (low Apr.3) followed by 1.0766 (low Apr.2) and then 1.0718 (low Apr.1). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 06,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted April 6, 2015 Author Report Share Posted April 6, 2015 EUR/CAD points to consolidation prior to a decline – TDS FXStreet (Edinburgh) - According to FX Strategists at TD Securities, the cross could attempt a consolidative pattern ahead of another leg lower. Key Quotes “EURCAD is displaying some mixed signals; the cross popped higher again late last week off of support near 1.36 area is effectively retesting strong resistance (former range base) at 1.3760/65 again this morning)”. “The broader trade here is negative after the early 2015 decline in the EUR and the current pattern of trade suggests a consolidation (bear wedge) ahead of another push lower”. “The intraday trend looks constructive though and while longer-term trend studies are bearish, the lack of alignment across the shorty, medium and long-term studies suggests more a range trade environment at the moment”. “Trends may not clear up unless or until the EUR moves above (roughly) 1.39 or below 1.35”. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 06,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! WTI pushes higher near $51.80 FXStreet (Edinburgh) - The price for the barrel of West Texas Intermediate is intensifying the upside on Easter Monday, currently advancing more than 5% around $51.75. WTI boosted on Iran Crude oil prices picked up pace following market expectations that Iran output and oil exports could take longer to resume the levels pre-sanctions (about a year according to analysts), allaying fears that further oil could be added to the already global glut and thus exert further downside pressure on prices. In addition, the softer tone from the US dollar is also collaborating with the upbeat sentiment around the WTI, which prices are once again flirting with the $52.00 handle. WTI key levels The barrel of WTI is now advancing 5.09% at $51.64 with the next hurdle at 51.87 (high Apr.6) ahead of $52.02 (high Mar.10) and finally $53.04 (high Mar.6). On the downside, a break below 49.47 (low Apr.6) would aim for 49.14 (low Apr.5) and then 47.05 (low Apr.1). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 06,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted April 8, 2015 Author Report Share Posted April 8, 2015 FOMC Minutes: reference to USD might weigh on the currency – TDS FXStreet (Barcelona) - Focus has remained on Fed and their view on USD, and in spite of the current dollar consolidation, any reference in the minutes regarding the currency’s strength might have negative effect on the Dollar, note FX Strategists at TD Securities. Key Quotes “With the run of hard data drying up temporarily after last week’s US NFP data, the Fed minutes from the March 17-18th policy meeting are the top focus for the markets in our session today. “Patience” was dropped at the March meeting and the minutes should broadly reflect the tone of Chair Yellen’s post meeting remarks where she laid out the case for a gradual tightening in monetary policy if the economic outlook holds.” “Fed officials have stressed data dependency—both with regard to the eventual timing of “lift off” and the evolution of policy thereafter.” “There was a fair degree of focus on the USD around the time of the March FOMC so we have to expect some discussion at least of the USD’s impact on the outlook in the minutes.” “But as the USD rally has consolidated in the past few weeks, policy makers have appeared somewhat less concerned by the issue but headlines referring to the negative impact of the USD on growth and inflation—while essentially old news—may still weigh on the currency to an extent.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 08,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! EUR/JPY: Next rebasing support zone at 129.60/46 – FXMarketAlerts FXStreet (Barcelona) - The FXMarketAlerts Team expects EUR/JPY to base around 129.60/46 before resuming to the upside. Key Quotes “EUR/JPY still probing around 130 at this hour has yet to find a decent level to stage another range rally.” “Hourly chart pattern still looks a bit weak at this hour, so there is risk that this mkt works toward the 129.60/46 support zone before attempting to rebase. Provided the mkt can turn up again at the 129.60/46 zone, the rally potential is back up through 130.40/50.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 08,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! EUR/JPY: Next rebasing support zone at 129.60/46 – FXMarketAlerts FXStreet (Barcelona) - The FXMarketAlerts Team expects EUR/JPY to base around 129.60/46 before resuming to the upside. Key Quotes “EUR/JPY still probing around 130 at this hour has yet to find a decent level to stage another range rally.” “Hourly chart pattern still looks a bit weak at this hour, so there is risk that this mkt works toward the 129.60/46 support zone before attempting to rebase. Provided the mkt can turn up again at the 129.60/46 zone, the rally potential is back up through 130.40/50.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 08,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted April 9, 2015 Author Report Share Posted April 9, 2015 EUR/GBP capped by 0.7280 FXStreet (Edinburgh) - The bullish attempt in EUR/GBP seems to have found tough resistance around 0.7280 on Thursday. EUR/GBP remains below 0.7300 The European cross is navigating within a tight range today, with intraday gains so far limited by the 0.7280 area as the euro remains unable to gather further traction in the global markets. The better tone around the greenback keep the demand for its G10 peers subdued, confining the cross to a narrow trading range. In the data front, the UK trade deficit surged above estimates and previous reading during February, while the BoE left its monetary policy unchanged in today’s meeting. EUR/GBP key levels At the moment the cross is gaining 0.20% at 0.7265 and a break above 0.7328 (100-h MA) would open the door to 0.7379 (high Apr.3) and finally 0.7385 (high Mar.25). On the downside, the immediate support lines up at 0.7222 (low Mar.31) ahead of 0.7200 (psychological level) and then 0.7156 (61.8% of 0.7015-0.7385). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 09,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! EUR/USD hit fresh daily lows FXStreet (Mumbai) - The bid tone on the USD got more pronounced after the better-than-expected weekly jobless claims data, thereby pushing the EUR/USD pair to a fresh daily low of 1.0723. USD supported by an uptick in Treasury yields The dollar is being bid higher tracking the uptick in the Treasury yields. The 10-year yield rose 1.4 basis points (bps) to 1.909%, while the 30-year yield rose 1.6 bps to 2.536%. The 2-year yield also ticked 1.2 bps higher at 0.544%. The yields hardened after the data in the US showed four-week moving average of initial claims dropped to its lowest since June 2000. Consequently, the EUR/USD pair fell to 1.0723, nearing its lowest level since March 31st. Strength in the yields could keep the USD in demand for the rest of the day. EUR/USD Technical Levels The immediate support is seen at 1.0711, under which the losses could be extended to 1.0682. On the flip side, a break above 1.0750 could drive the pair back to 1.08 levels. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 09,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! USD/JPY year-end target at 123.00 – BTMU FXStreet (Barcelona) - Takahiro Sekido, Japan Strategist at Bank of Tokyo-Mitsubishi UFJ, expects Yen to modestly deprecate against the dollar as inward investment increases, and maintaining a year-end target for USD/JPY at 123.00. Key Quotes “As the overseas shift of production slows, some Japanese companies have already started to return to Japan. Companies that set low USD/JPY breakeven rates, like precision machinery, automotive, and electronics makers, have started to expand operations in Japan again. They recognize Japan as an investment opportunity in terms of cost-competitiveness.” “Looking forward, FDI flows may slow. Japanese companies will likely maintain their FDI for the time being. They will surely reconsider Japan as an investment destination.” “Looking ahead, we will be watching Japanese companies’ investment stance (overseas or domestic) and cash repatriation flows; inward investment from overseas to Japan; and external risk factors surrounding the yen, as these may help dampen further upside for USD/JPY.” “We maintain our view for a moderate yen depreciation against the US dollar.” “Japanese investors (public pensions and financial institutions including JP postal bank), households (via investment trust and non-yen bonds), and companies (imports and FDI) and will likely keep selling yen. Our year-end forecast for USD/JPY is currently at 123.00.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 09,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted April 10, 2015 Author Report Share Posted April 10, 2015 Gold rebounds sharply above USD 1200 FXStreet (Mumbai) - Gold prices on Comex edged swung back above 1200 barrier in the European session, extending its recovery mode from fresh weekly lows, largely on a short-covering rally after the recent weakness. Gold holds above 50-DMA Currently, gold trades higher by 0.70% at 1201.08 levels, having previously posted day’s high at 1205.30 and day’s low at 1193. Gold prices posed a solid recovery, bouncing-off 50-DMA support and climbed higher back above 1200 levels and heads for a flat close over the week amid Fed rate hike talks. The yellow metal regained ground despite strengthening US dollar across the board mainly driven by a bout of technical buying. The US dollar index which measures the relative strength of the greenback against a basket of six major currencies trades higher by 0.39% at 99.64 levels. Gold Technical Levels The metal has an immediate resistance at 1205.78 (5-DMA) and 1210 levels. Meanwhile, support stands at 1195 (20-DMA) levels below which doors could open for 1193.41 (50-DMA) levels. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 10,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! USD continues to climb in the European trade – TDS FXStreet (Barcelona) - The TD Securities team summarizes the key developments in the FX, Equities and Bond markets during the European trade. Key Quotes “The USD continued to gain ground through the London trading session, pushing EURUSD to a new 3-week low back below 1.06, and GBPUSD to a fresh 5y low of 1.4624 as markets focus more on the UK elections, and the recent turn in polls in favour of Labour.” “USDCAD has been less directional, trading in a tighter range just above 1.26 as markets await the Canadian labour market report, where we think that the string of softer than expected Canadian data is likely to continue.” “Risk sentiment overall is holding up after the Nikkei crossed the 20,000 mark overnight for the first time in 15 years, and European equities are up around 0.4% on the day.” “European peripheral spreads have tightened up a bit as bund yields hold around all-time lows, while UST yields are fairly steady around yesterday’s highs, with the yield differentials likely being a driver behind USD outperformance overnight.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 10,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! EUR/USD next target at 1.0457 – GrowthAces FXStreet (Barcelona) - The GrowthAces Research Team maintains a short position on EUR/USD targeting 1.0457 levels, noting that the recent weakness is a result of carry trades, and further comments on the upcoming ECB meeting. Key Quotes “The EUR/USD fell to the lowest levels since March 18. A depreciation of the EUR is a result of carry trades. German bond yields out to 8 years are now in negative territory, so the EUR is a funding currency.” “We have closed our long position with a loss at 1.0600. Breaking below this level is a strong bearish signal that may point to further fall of the EUR/USD despite weakening macroeconomic figures from the USA and improving economic performance of the Eurozone.” “Our trading strategy will be to sell the EUR/USD at 1.0675. The next target of the EUR/USD bears will be 2015 low of 1.0457.” “The European Central Bank’s meeting is scheduled for next week. We should expect little news from ECB President Draghi’s press conference. The weaker EUR is already pushing up import prices of core consumer goods, so the risk of an outright deflation in the Eurozone is very small now.” “Let us remind that the ECB’s Governing Council member Yves Mersch said the bank would be free to adjust its quantitative easing if it advanced faster than expected towards its goal of lifting inflation. Such a rhetoric is rather unlikely already at April ECB meeting. However, this issue may be raised in the coming months.” “Resistance: 1.0685 (hourly high Apr 10), 1.0788 (hourly high Apr 9), 1.0797 (10-dma)” “Support: 1.0580 (low Mar 18), 1.0551 (low Mar 17), 1.0457 (low Mar 16)” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 10,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Link to comment Share on other sites More sharing options...
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