EUR/USD sidelined above 1.2700

FXStreet (Moscow) – EUR/USD  has moved off form the Asian low at 1.2706 and settled at 1.2728; the pair is consolidating with bullish bias ahead of European opening

EUR/USD crashed to 1.2716 in Europe on Tuesday after a failed attempt to get above 1.2840. EUR bears used rumors about ECB buying corporate bonds as a pretext to enter new shorts, though the info has not been confirmed yet. The pair finished the day at 1.2714, above 1.2700 pivot level. It means that further downside may be limited at least until after FOMC meeting next week. While the European calendar is empty, investors are likely to focus on US inflation numbers. The annual CPI is expected to slow down to 1.6% in September against 1.7% in August, while Core CPI might grow slightly towards 0.2% m/m, 1.7% y/y against 0.0% m/m, 1.7% y/y in August. Weaker data might force investors to adjust their forecasts about first rate hike timing and put USD under pressure, though EUR/USD would need a clear break below 1.2700 to extend the downside towards 1.2640. The upside is limited by 1.2755.

What are today’s key EUR/USD levels?

Today’s central pivot point can be found at 1.2757, with support below at 1.2673, 1.2630 and 1.2546, with resistance above at 1.2800, 1.2884 and 1.2927. Hourly Moving Averages are mixed, with the 200SMA bearish at 1.2732 and the daily 20EMA flat at 1.2757. Hourly RSI is bearish at 39.
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CAD and crosses technical snap shot – TDS

FXStreet (Barcelona) – Analysts at TD Securities explained that the USD/CAD tests 1.12 but liable to bounce in the short-run; longer-term patterns start to look a little more negative. Crosses to follow…

Key Quotes:

EUR/CAD‘s stumble around resistance in the low 1.44 area this week is clearer this morning; may retest support in the low 1.42s”.

AUD/CAD consolidates below resistance in the mid 0.99s”.

GBP/CAD rally fades against the 200-day MA – no surprise”.

CAD/JPY‘s rebound slows”.
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EUR/JPY breaks below 136.00

FXStreet (Córdoba) – The euro continues to weaken against the yen, having fallen to a fresh weekly low, on reports that the ECB is discussing corporate bonds buying, which would expand its balance sheet and bypass banks in the transmission of policy.

EUR/JPY extended its decline to below 136.00 and hit its lowest level since last Thursday at 135.68 in recent dealings. At time of writing, EUR/JPY is trading at the 135.80 area, recording a 0.78% loss Tuesday, following four consecutive days of rising.

EUR/JPY levels to watch

As for technical levels, EUR/JPY could find next supports 135.02/00 (Oct 14 low/psychological level) and 134.13 (2014 low Oct 16). On the flip side, resistances could be faced at 137.00 (Oct 20 high/psychological level) and 137.20 (20-day SMA).
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