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OctaFX.com - Keep trading we'll take care of the rest
OctaFX_Farid replied to OctaFX_Farid's topic in Forex Brokers
OctaFX.com- OctaFX awarded Best Customer Service Broker Asia 2013!! Dear Clients! OctaFX has been awarded as the Best Customer Service Broker Asia 2013 by Global Banking and Finance Review. Global Banking and Finance Review is an online portal which provides informative and independent news for the global banking and finance industry. Global Banking and Finance Review has objective and respected editorial contributions from all major sectors, such as FOREX, Asset Management, and more. The editorial contributions are from various Central Banks, independent organizations and independent bodies. The readership comprises of senior decision makers from fortune 500 companies, large banks, financial institutions and Central Banks from 170 different countries. OctaFX has achieved tremendous success in terms of Customer Service this year. Huge resources were used to improve our Customer Service drastically. And when we talk about customer service we talk about customer trading experience first of all. Forex trading is the main service we offer and it must be flawless. During this year we have amazingly improved our trades execution making it one of the fastest among Forex brokers. We were one of the first to remove requotes, so much hated by the traders. Not a single requote was ever shown to OctaFX customers. Finally we have introduced the lowest ECN spreads, making our clients happy and satisfied. This has become true as a result of our hard work to provide the best customer service level in forex industry. We would like to thank the reviewers and jury, as well as all our clients who supported us. OctaFX has reached yet another success level and became a multi-awarded world-recognized broker. Our effort has been valued by the team of international market professionals, who picked winners from a vast number of brokers. It’s been a tough struggle. We are pleased to be the winners of such a valuable and precious award. We would like to thank the trader’s community once again for supporting us during this year and promise to offer more and more amazing services and promotions to our clients worldwide. Open account today and enter the world of requote-free trading and the fastest execution! Join OctaFX today! Please stay tuned for the news and updates from OctaFX! Wishing you luck and profitable trading, yours truly, OctaFX! -
OctaFX.Com - Financial News and Analysis
OctaFX_Farid replied to OctaFX_Farid's topic in Fundamental Analysis
GBP/USD deflates to 1.6960 FXStreet (Edinburgh) - The sterling is grinding lower on Wednesday, dragging the GBP/USD to test session lows in the 1.6965/60 region. GBP/USD correcting from peaks Spot continues to correct from Tuesday’s multi-year peaks in levels just shy of 1.7000 the figure following the risk-off mood in the global markets. Next of note in the UK economy will be tomorrow’s BoE MPC meeting, with market consensus expecting the central bank to keep its ‘on-hold’ stance. However, as the unemployment rate is now below 7%, market participants will closely follow the statement or announces (if any) in such regard. “While we remain above the 1.6775/1.6825 zone the risk opens up for tests on the next resistance levels located at 1.6960/80 initially, followed by 1.7150 and final extension target comes in around the 1.73 areaâ€, noted Paul Robson, Senior FX Strategist at RBS. GBP/USD levels to watch At the moment the pair is losing 0.04% at 1.6966 with the immediate support at 1.6900 (psychological level) ahead of 1.6870 (10-d MA) and then 1.6866 (low May 7). On the upside, a breakout of 1.6997 (2014 high May 6) would aim for 1.700 (psychological level) and finally 1.7044 (high Aug.5 2009). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page May 07, 2014 OctaFX.Com News Updates -
OctaFX.Com - Financial News and Analysis
OctaFX_Farid replied to OctaFX_Farid's topic in Fundamental Analysis
Fed's Yellen: Slack in labor market remains considerable FXStreet (Åódź) - Yellen says that a high degree of monetary accommodation is warranted given the considerable slack in the labor markets and low inflation. • “There is a high level of long-term unemployment,†she stresses. • The 6.5% threshold for considering interest rate hikes was set when unemployment rate was near 8%, Yellen reminds, emphasizing that it was a benchmark not a trigger. • The trend of increasing inequality in income and wealth in the US could be offset by the Fed's efforts to boost growth. • The Fed head acknowledges low household formation, high student debt, high house credit requirements. • She adds however that the sector should pick up and that despite higher mortgage rates they are low by historical standards. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page May 07, 2014 OctaFX.Com News Updates -
OctaFX.Com - Financial News and Analysis
OctaFX_Farid replied to OctaFX_Farid's topic in Fundamental Analysis
Fed's Yellen: QE taper to continue in 'measured steps', no specific timeline for rate hike FXStreet (Åódź) - During the Q&A part of the testimony Janet Yellen says that as long as inflation is moving towards the 2% target and the USeconomy improves the Fed anticipates reducing the QE program in “measures steps.†• "There is no mechanical formula or timetable for when that will occur," says Yellen when asked about when will Fed start rising rates. • First rate hike will depend on progress made on Fed mandate. • “I can't give a number for the appropriate size of the Fed's balance sheet.†• Ultimately it will move down to substantially lower levels but no certainty that it will return to pre-crisis levels, the Fed head says. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page May 07, 2014 OctaFX.Com News Updates -
OctaFX.Com - Financial News and Analysis
OctaFX_Farid replied to OctaFX_Farid's topic in Fundamental Analysis
United States EIA Crude Oil Stocks change down to -1.781M in May 2 from previous 1.698M Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page May 07, 2014 OctaFX.Com News Updates -
OctaFX.com - Keep trading we'll take care of the rest
OctaFX_Farid replied to OctaFX_Farid's topic in Forex Brokers
OctaFX.com - Success as Round 25 OctaFX Champions see it! Round 25 OctaFX Champion Demo contest ended and added 4 more names in OctaFX Hall of Fame: 1st place – Mrs. A Nguyen Thi from Vietnam 2nd place – Mr. Dimuthu Jayawardena from Shri-Lanka 3rd place – Mr. Mahmoud Mohamed Tawfik Samah from Egypt The last runner – Mr. Muh Salim Jihad Eko Mardiko from Indonesia Three winners discuss success and trading strategies with OctaFX team in the interview below: How do you feel being an OctaFX Champion? 1st place – Mrs. A Nguyen Thi: I love Forex very much and I feel happy to win. 2nd place – Mr. Dimuthu Jayawardena: It was nice and wonderful warm-up. 3rd place – Mr. Mahmoud Mohamed Tawfik Samah: I feel very happy to win the title of the Champion. How involved in the contest you were – was it taking all of your time? 1st place – Mrs. A Nguyen Thi: When I felt confident with my trading strategy, I was spending lots of time competing to make more trades and get more profit. 2nd place – Mr. Dimuthu Jayawardena: I certainly spent more time then habitually. 3rd place – Mr. Mahmoud Mohamed Tawfik Samah: I participated in the competition while searching the Web. What is the key factor to your success? Why are you better than everyone else? 1st place – Mrs. A Nguyen Thi: I think I can control my emotions better than others and have some luck with my trades. 2nd place – Mr. Dimuthu Jayawardena: I trade with market trend and do it correctly. 3rd place – Mr. Mahmoud Mohamed Tawfik Samah: The key factor to my success is patience. How long does it take to become a good trader? 1st place – Mrs. A Nguyen Thi: I joined Forex more than 3 years ago and I think to become a good trader will take me more time. 2nd place – Mr. Dimuthu Jayawardena: I think two years is enough time. 3rd place – Mr. Mahmoud Mohamed Tawfik Samah: Time required to be adjusted to become a successful trader is 2 years minimum. OctaFX would like to thank all the participant and remind everyone else that next time you can be one of OctaFX Champion Demo Contest winners! Don't let anything stop you from getting into the next Round of OctaFX Champion Demo Contest – prove yourself to be a successful and thoughtful trader, reach new heights, and get a reward you deserve – register in Round 27 OctaFX Champion Demo Contest! Spend your luckiest days with OctaFX! Please visit here to see full contestants list http://www.octafx.com/contests/octafx-champion/rating/ Open account today and enter the world of requote-free trading and the fastest execution! Join OctaFX today! Please stay tuned for the news and updates from OctaFX! Wishing you luck and profitable trading, yours truly, OctaFX! -
OctaFX.Com - Financial News and Analysis
OctaFX_Farid replied to OctaFX_Farid's topic in Fundamental Analysis
USD/JPY nestled back in on the 102 handle FXStreet (Guatemala) - USD/JPY is trading at 102.09, having posted a daily high at 102.27 and low at 101.86 USD/JPY remains on the 102 handle having reclaimed the territory post falling below the psychological level to the lows with the continued violence in Ukraine that gives the safe haven and risk off JPY an advantage. USD/JPY Levels Current price is 102.10, with resistance ahead at 102.13 (Yesterday's Low), 102.18 (Weekly Low), 102.20 (Daily Open), 102.27 (Daily High) and 102.32 (Hourly 100 SMA). Next support to the downside can be found at 102.08 (Hourly 20 EMA), 101.87 (Daily Classic S1), 101.86 (Daily Low), 101.80 (Weekly Classic S1) and 101.55 (Daily Classic S2). USD/JPY chart formations Looking at price patterns, we can see a Piercing Line 1-hour candlestick formation. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page May 05, 2014 OctaFX.Com News Updates -
OctaFX.Com - Financial News and Analysis
OctaFX_Farid replied to OctaFX_Farid's topic in Fundamental Analysis
ECB to make a move? – BBH FXStreet (Guatemala) - Turning to the ECB, Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman explained that most observers recognise that with the small uptick in the flash April CPI and the new staff forecasts not available until June, a move this week is unlikely. Key Quotes “A stand pat ECB decision, however, even with the ongoing threats of more dramatic action, could see the euro push higher as the event risk passes." "New staff forecast for growth and inflation are important, but only for one set of ECB challenges, namely the threat of deflation. We expect the staff forecasts to continue to be consistent with other economists, including the team at the IMF, that indicate little chance of deflation in the euro area as a whole." "The IMF’s forecasts point to Greece as the only member to experience deflation this year. Also of note, today’s new EU forecasts cut 2014 inflation to 0.8% from 1.0% and the 2015 forecast to 1.2% from 1.3%." "The staff currently forecasts headline inflation in the euro area at 1.0% this year and 1.3% in 2015. There does not seem to be a compelling case to change these at this juncture." OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page May 05, 2014 OctaFX.Com News Updates -
OctaFX.Com - Financial News and Analysis
OctaFX_Farid replied to OctaFX_Farid's topic in Fundamental Analysis
USD/CAD reverses and falls to 1.0950 FXStreet (Córdoba) - The USD/CAD rose at the beginning of the American Session to 1.0989, reaching a fresh daily high but then weakened and reversed sharply falling to 1.0951, hitting a new daily low. Technical outlook for the USD/CAD Despite moving from a daily high to a low in a few hours, the short term bias in unclear and continues to favor sideways moves. Since last Wednesday the USD/CAD operates with support above 1.0940/50 and resistance below 1.1000. In the long term, the trend still favor the upside but since March it's moving to the downside, with a corrective bias, that so far has found support at 1.0850. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page May 05, 2014 OctaFX.Com News Updates -
OctaFX.Com - Financial News and Analysis
OctaFX_Farid replied to OctaFX_Farid's topic in Fundamental Analysis
USD/CAD broadly bullish – TDS FXStreet (Guatemala) - Shaun Osbourne, Chief FX Strategist at TD Securities explained the events around USD/CAD and remains broadly bullish for funds. Key Quotes "The CAD has been subdued in quiet trade so far this wee. Volatility may pick up in the days ahead, however as the Canadian economic release schedule picks up a little more this week—trade data are released Tuesday (we look for a weak-ish report and note that the contents of last week’s US trade data did not augur too positively for Canada), housing data follow Wednesday and Thursday and the employment report is out on Friday (market consensus is for a 15k gain after the 42.9k rise in March)." "We remain bullish on the broader outlook for USD/CAD—better US data should, eventually, push US yields more obviously higher and pull the USD higher alongside. The better US non-farm payroll numbers last week suggest that the US economy is gathering some momentum after the recent, weather-related softness." "As Governor Poloz has pointed out in his recent remarks however, there are some sectors of the Canadian economy that are not picking up as much as we might expect due to structural challenges and lost competitiveness. We continue to believe that a slightly softer CAD will have to be part of the solution to that particular challenge." "From a short-term point of view, we would also highlight that early May tends to be a little more seasonally supportive for USD/CAD—the early part of the month has been the staging point for short, sharp rallies in USD/CAD in the past few years. We note an average 6.6% rally in funds from the low point of the market in late April or early May over the following 4-8 weeks since 2010 and note a seasonal bias towards USD/CAD strength in the period going back a number of years beyond that as well. Over the past 10 years, May has also seen the biggest jump in short-term implied volatility of any month in the year." "As such, and with a firm base in place at 1.0860 from a technical point of view still, we rather think that risk/reward considerations favour USD/CAD longs from current—or very near—levels. Technically, short-term patterns looks positive—despite the USD’s failure to thrive following the US NFP release last week." "Gains through 1.1000/10 should be a short-term positive for USD/CAD. We spot firm support at 1.0940/50 now." OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page May 05, 2014 OctaFX.Com News Updates -
OctaFX.Com - Financial News and Analysis
OctaFX_Farid replied to OctaFX_Farid's topic in Fundamental Analysis
United States 6-Month Bill Auction remains at 0.045% Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page May 05, 2014 OctaFX.Com News Updates -
OctaFX.com - Keep trading we'll take care of the rest
OctaFX_Farid replied to OctaFX_Farid's topic in Forex Brokers
OctaFX Champion - A Splendid Demo Contest from your top Broker! Current update of OctaFX Champion Demo Contest! *Currently our top contestant EriGustaman from Indonesia has piled up with Equity/Balance $17 439.35. Total 1915 contestants competing each-other right now. So, come and snatch the opportunity and be the part of matchless traders. http://www.octafx.com/contests/octafx-champion/ Contests schedule Current round (EET) Registration: Mar 31, 2014 01:00 - Apr 28, 2014 01:00 Duration: Apr 28, 2014 01:00 - May 24, 2014 01:00 Next round (EET) Registration: Apr 28, 2014 01:00 - Jun 2, 2014 01:00 Duration: Jun 2, 2014 01:00 - Jun 28, 2014 01:00 Please visit here to see full contestants list http://www.octafx.com/contests/octafx-champion/rating/ Open account today and enter the world of requote-free trading and the fastest execution! Join OctaFX today! Please stay tuned for the news and updates from OctaFX! Wishing you luck and profitable trading, yours truly, OctaFX! -
OctaFX.com - Keep trading we'll take care of the rest
OctaFX_Farid replied to OctaFX_Farid's topic in Forex Brokers
OctaFX.com-Happy weekend to all! Please stay tuned for the news and updates from OctaFX! Open account today and enter the world of requote-free trading and the fastest execution! Join OctaFX today! -
OctaFX.Com - Financial News and Analysis
OctaFX_Farid replied to OctaFX_Farid's topic in Fundamental Analysis
Gold jumps to $1,304 FXStreet (Córdoba) - Spot gold recently reached a fresh 4-day high at $1,304, after making a strong rebound. After the release of the US employment report price tumbled to $1,273 but quickly rebounded to the level it had before NFP. Following the opening bell at Wall Street gained momentum and accelerated to the upside, breaking above $1,288 (previous daily highs). The yellow metal printed a fresh high at $1,304 and then pulled back. Currently trades at $1,299, $15 above the price it had at the beginning of the day and near the one it had a week ago. A weak US dollar pushed XAU/USD to the upside amid rising tension in Ukraine. Stocks in Wall Street opened higher but then turned negative, on a relatively volatile session and currently trade in mixed territory. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page May 02, 2014 OctaFX.Com News Updates -
OctaFX.Com - Financial News and Analysis
OctaFX_Farid replied to OctaFX_Farid's topic in Fundamental Analysis
GBP/USD regains 1.6880 FXStreet (Edinburgh) - The GBP/USD is regaining the 1.6880 level and thus extending the bounce off session troughs near 1.6820 post-US Payrolls. GBP/USD capped by 1.6900 Positive economic indicators during this week allowed the sterling to print new multi-year highs vs. the greenback beyond the 1.6900 handle, although spot was unable to trade back to those levels so far. “We continue to see only a 25% chance that the BoE can hike this year, but admit that risk is risingâ€, commented strategists at TD Securities. Today’s Payrolls in the US economy (288K act.) largely surpassed expectations, albeit the subsequent spike in USD was totally reverted soon after. GBP/USD levels to watch The pair is now losing 0.11% at 1.6875 with the next support at 1.6841 (10-d MA) followed by 1.6821 (low May 2) and finally 1.6805 (low Apr.3). On the upside, a break above 1.6921 (high May 1) would aim for 1.7000 (psychological level) and then 1.7044 (high Aug.5 2009). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page May 02, 2014 OctaFX.Com News Updates -
OctaFX.Com - Financial News and Analysis
OctaFX_Farid replied to OctaFX_Farid's topic in Fundamental Analysis
GBP/USD regains 1.6880 FXStreet (Edinburgh) - The GBP/USD is regaining the 1.6880 level and thus extending the bounce off session troughs near 1.6820 post-US Payrolls. GBP/USD capped by 1.6900 Positive economic indicators during this week allowed the sterling to print new multi-year highs vs. the greenback beyond the 1.6900 handle, although spot was unable to trade back to those levels so far. “We continue to see only a 25% chance that the BoE can hike this year, but admit that risk is risingâ€, commented strategists at TD Securities. Today’s Payrolls in the US economy (288K act.) largely surpassed expectations, albeit the subsequent spike in USD was totally reverted soon after. GBP/USD levels to watch The pair is now losing 0.11% at 1.6875 with the next support at 1.6841 (10-d MA) followed by 1.6821 (low May 2) and finally 1.6805 (low Apr.3). On the upside, a break above 1.6921 (high May 1) would aim for 1.7000 (psychological level) and then 1.7044 (high Aug.5 2009). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page May 02, 2014 OctaFX.Com News Updates -
OctaFX.Com - Financial News and Analysis
OctaFX_Farid replied to OctaFX_Farid's topic in Fundamental Analysis
AUD/USD rebounds sharply, rises back above 0.9250 FXStreet (Córdoba) - The AUD/USD bottomed at 0.9200 after the release of the Nonfarm Payroll report in the US, that surpassed expectations, reaching the lowest price in a month but then rebounded sharply and rose more than 60 pips, back to the price it had before NFP. From 0.9200 the AUD/USD jumped to 0.9274 but then pulled back and currently trades at 0.9255, down 0.19% for the day so far. Initially the US dollar rose across the board but after Wall Street opening erased gains. According to the ">US employment report the economy added 288,000 jobs is April, above expectations of 210,000. March numbers were revised to the upside, while the unemployment rate fell from 6.7% to 6.3%. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page May 02, 2014 OctaFX.Com News Updates -
OctaFX.Com - Financial News and Analysis
OctaFX_Farid replied to OctaFX_Farid's topic in Fundamental Analysis
EUR/USD bounces sharply and retests daily highs FXStreet (Córdoba) - The EUR/USD is staging a mild bounce, trimming some of its intraday losses incurred in the wake of strong US nonfarm payrolls. The EUR/USD fell to a 2-day low of 1.3811 immediately after the data but managed to recover afterward as in Sebastien Galy analyst at Societe Generale terms, the substitution effect of rising yields gives way to the wealth effect of a rising labour market on risk taking. The EUR/USD has completely erased intraday losses and it was at 1.3865 at last check. At current levels, the pair would close the week with a slight gain for second time in a row. EUR/USD supports & resistances As for technical levels, next resistances for EUR/USD could be found at 1.3888 (May 1 high), 1.3904 (Apr 11 high) and 1.3933 (Mar 19 high). On the other hand, supports are seen at 1.3811 (May 2 low/50-day SMA) and 1.3777 (Apr 30 low). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page May 02, 2014 OctaFX.Com News Updates -
OctaFX.Com - Financial News and Analysis
OctaFX_Farid replied to OctaFX_Farid's topic in Fundamental Analysis
EUR/JPY returns to 142.00 after peaking to 142.35 FXStreet (San Francisco) - The EUR/JPY attempted a rally from 142.10 as it jumped to 142.35, highest since April 29; however, the pair found selling interest at this level and currently it is trading back to 142.00. Currently, EUR/JPY is trading at 142.07, up 0.12% on the day, having posted a daily high at 142.35 and low at 141.77. The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is slightly bullish. EUR/JPY levels If the pair loses the 142.00 level, next supports are seen at 141.90 and 141.75. On the upside, resistances are at 142.15, 142.35 and 142.45. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page May 02, 2014 OctaFX.Com News Updates -
OctaFX.Com - Financial News and Analysis
OctaFX_Farid replied to OctaFX_Farid's topic in Fundamental Analysis
USD/CHF propelled by US jobs data FXStreet (Córdoba) - The dollar rose sharply across the board and took the USD/CHF to 2-day highs above 0.8800 propelled by much better-than-expected US nonfarm payrolls figures. The USD/CHF rose more than 50 pips after data showed the US economy created 288,000 new jobs in April, far surpassing the 210,000 expected, and reached a high of 0.8840 before facing resistance. At time of writing, the USD/CHF is trading at 0.8835, recording a 0.51% gain on Friday and on track to post a 0.39% weekly advance, having bounced from a low of 0.8769. USD/CHF levels to watch As for technical levels, immediate resistances for USD/CHF could be found at 0.8840 (May 2 high), 0.8850 (Apr 30 high) and 0.8860 (Apr 22 high). On the other hand, supports are seen at 0.8782 (May 1 low), 0.8769 (Apr 28 low) and 0.8750 (Apr 10 low). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page May 02, 2014 OctaFX.Com News Updates -
OctaFX.com - Keep trading we'll take care of the rest
OctaFX_Farid replied to OctaFX_Farid's topic in Forex Brokers
OctaFX.com- Our Client's Funds Security is Our Top Priority! Our client's funds security is our top priority. With OctaFX you can be absolutely sure your deposits are secured in every possible way. Here are some of the measures we take to ensure funds protection: Segregated Accounts In accordance with the international regulation standards OctaFX uses segregated account to keep protected customers' funds segregated from the company's balance sheets. This makes your funds secure and untouched. SSL-protected Personal Area We use highly secured technology to protect your personal data and financial transactions. SSL-secured Personal Area is protected with 128-bit encryption, which makes your browsing safe and your data inaccessible to any third parties. Account verification OctaFX recommends you to verify your account by submitting your personal ID scan and an address proof. This simple measure will make sure your transactions are authorized and secured. Secure withdrawal rules Since a withdrawal from a real account requires an email confirmation, no one can ever access your account but yourself. It is also required that you use the same payment details for deposits and withdrawals. Thus, under no circumstances can OctaFX transfer your withdrawal to an unauthorized third party. 3D secure Visa/Mastercard authorization We apply 3D secure technology when processing credit and debit cards. This technology makes all the Visa/Mastercard transactions transparent and safe. Advanced protection OctaFX technical environment is monitored 24/7 by a dedicated team of highly professional security engineers and technical specialists. They have developed and maintain top level protection, so any data loss, damage or other technical issues are highly unlikely. Please stay tuned for the news and updates from OctaFX! Open account today and enter the world of requote-free trading and the fastest execution! Join OctaFX today! -
OctaFX.Com - Financial News and Analysis
OctaFX_Farid replied to OctaFX_Farid's topic in Fundamental Analysis
USD/CAD choppy around 1.0950 FXStreet (Edinburgh) - The USD/CAD is trading within a 30 pips range on Wednesday, keeping the trade between 1.0950 and 1.0980 so far. USD/CAD looking to consolidate Spot is now attempting a consolidation pattern after yesterday’s drop from the 1.1040 region ahead of the FOMC gathering due later. In the data front, Canadian GDP figures came in in line with consensus at 0.2% inter-month in February while the US print missed expectations at 0.1% vs. 1.2% forecasted. “USDCAD slipped a little below retracement support over the past 24 hours but losses below 1.0956 have been limited and price action subsequently looks constructive for funds, from a short-term point of view at least… Bullish “hammer†formations in the 6-hour charts still suggest the near-term likelihood of a squeeze up to the 1.10 area near term. We see solid support on short-term dips to 1.045/5 nowâ€, commented Shaun Osborne, Chief FX Strategist at TD Securities. USD/CAD levels to watch The pair is now up 0.05% at 1.0950 facing the next resistance at 1.1014 (low Apr.25) ahead of 1.1053 (high Apr.23) and then 1.1069 (50% of 1.1279-1.0858). On the flip side, a breakdown of 1.0919 (low Apr.11) would expose 1.0868 (low Apr.10) and finally 1.0858 (low Apr.6). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 30, 2014 OctaFX.Com News Updates -
OctaFX.Com - Financial News and Analysis
OctaFX_Farid replied to OctaFX_Farid's topic in Fundamental Analysis
USD/JPY falls toward 102.00 ahead of the FED FXStreet (Córdoba) - The USD/JPY dropped further during the American session and hit a fresh 2-day low at 120.02, as US government bond yields reached fresh lows ahead of the FOMC statement. After the release of the ADP employment report the USD/JPY jumped to 102.65 but then after GDP data reversed and turned to the downside, accelerating following Wall Street opening bell as the US dollar tumbled across the board. USD/JPY technical levels To the upside, immediate resistance could be located at 102.30 and above here at 102.65/70 (daily high) and 102.95. To the downside, the area around 102.00 is the first support to consider and below 101.60 and 101.20. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 30, 2014 OctaFX.Com News Updates -
OctaFX.Com - Financial News and Analysis
OctaFX_Farid replied to OctaFX_Farid's topic in Fundamental Analysis
GBP/USD reaches 1.6900, fresh multi-year high FXStreet (Córdoba) - Cable rose further against the US dollar and reached the strongest levels since August 2009. The GBP/USD climbed to 1.6900 hitting a fresh daily high ahead of the FOMC statement as the US dollar plunged across the board. Greenback weakened after the Wall Street’s opening bell pushing the pair to the upside. Cable was able to break above 1.6855/60, where previous highs lie and soared to 1.6900 that capped the upside. Currently GBP/USD is pulling back slightly and trades at 1.6888, up 0.35% and rising for the third day in a row, headed toward the highest daily close since 2009. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 30, 2014 OctaFX.Com News Updates -
OctaFX.Com - Financial News and Analysis
OctaFX_Farid replied to OctaFX_Farid's topic in Fundamental Analysis
EUR/USD flirting with 1.3880 FXStreet (Edinburgh) - The single currency is now picking up pace as the selling pressure is hurting the greenback, taking the EUR/USD just pips away from 1.3880. EUR/USD focus on the FOMC meeting Higher consumer prices in Euroland during April combined with disappointing US GDP figures in the first quarter are bolstering the current EUR bull run to the boundaries of 1.3880. The next risk event will be the FOMC meeting, with consensus pointing to an extra $10 billion taper. “The important take away from the inflation reports is that speculation that the ECB may initiate a QE program in May seems reducedâ€, commented analysts at BBH Global Currency Strategy Team. EUR/USD levels to watch As of writing the pair is advancing 0.41% at 1.3868 with the next hurdle at 1.3880 (high Apr.29) ahead of 1.3906 (high Apr.11) and finally 1.3935 (high Mar.19). On the other hand, a break below 1.3771 (low Apr.30) would target 1.3738 (low Apr.8) en route to 1.3729 (100-d MA). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 30, 2014 OctaFX.Com News Updates