Forex: EUR/USD rises to test 1.3000

FXstreet.com (San Francisco) - After rising 75 pips from 1.2920 in the last couple of hours, the EUR/USD has tested the 1.3000 area with the pair reaching as high as 1.2995 but retracing to the 1.2970 area. The pair is currently trading at 1.2967.

With 0.70% losses on the day, the EUR/USD is trading in a slightly bullish trend according to the FXstreet.com Forex Studies. CCI and Momentum are bullish while Stochastic is bearish and MACD is neutral.

As supports, a breach of 1.2882 (low Mar.180 would open the door o 1.2878 (low Dec.7) and then 1.2872 (MA200d).
On the flip side, resistance levels line up at 1.3094 (MA21d) ahead of 1.3129 (MA100d) and then 1.3135 (high Mar.8).

Mar 18, 2013

Forex: USD/CAD trading negatively at 1.0217/19 amidst jump in crude

The USD/CAD has traded unevenly off of its intraday minimum, which reached the 1.0200 barrier Monday. However, during American trading the pair has managed to recover the mark of 1.0217/19, whilst remaining in negative territory. In these moments the cross is operating -0.10% below its opening.

Forex Flash: EUR/GBP could edge higher to 0.9400 within 12 months – Goldman Sachs

FX markets remain dominated by offsetting policy forces, which can be described as a non-cooperative Global Exchange rate Mechanism. Within such a regime, much of the market focus has to be on the risk of ‘realignments’, or policy shifts, which have the potential to move a currency to a new level. Such a shift has happened in the Yen already. “Our view is that the risks from current levels are broadly balanced, and this is reflected in our new forecasts, centered around USD/JPY at 95.00.” writes the Economics Research Team at Goldman Sachs.