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Forex Flash: Bunds eye 200-day MA – RBS

The Bund market sustained itself in a range after seeing a gradual recovery and closing the 142.50 bearish gap from 25 January. According to Technical Markets Strategist Dmytro Bondar at RBS, “The move signaled further recovery to 143.20/30 (200-day MA) onto 143.70. Further upside will be likely this week after a minor correction from 200-day MA takes place.”

As such, “momentum is turning positive, as the 20/5/5/3 slow stochastic has left the oversold region after forming a positive crossover. Therefore, a move higher towards the 143.70 and 144.00 onto possibly 144.56/60 would be expected on a caveat of a sustained break below 142.00.” Bondar adds.

Forex: USD/CAD surrenders gains

After reaching a 2-week high of 1.0086, the US dollar gave up earlier gains against the loonie, as it weakened broadly on better risk sentiment.
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Forex Flash: JPY weakness triggers outbound FDI – UBS

According to Research Analyst Gareth Berry at UBS, “The three-month old rally of the USD/JPY has been largely driven by non-Japanese investors – mostly from within the hedge fund community. That does not mean Japanese participants have been absent entirely however. In fact, flows of a domestic origin have changed in ways that are even more surprising.”
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