Forex Flash: EUR/USD with scope for rally towards 1.3485/1.3560 - Commerzbank

FXstreet.com (Barcelona) - Commerzbank analysts admit that the recent break through the 1.33085 high suggests unfinished business on the topside, but the EUR/USD is still under corrective action after being capped by 1.3400 resistance. There is scope for a rally towards tough long term resistance at 1.3485/1.3560 this is the location of the 2012 high (double Fibonacci retracement, the 200 week moving average and the 55 MONTH moving average), according to analyst Karen Jones, while looking for this to hold the topside and provoke failure. “Nearby support is 1.3250/00 – below here would leave the market simply ranging and heading back to the base of the channel at 1.3074. Key support is 1.30009/00 – the 6 month uptrend”, Jones wrote.

Jan 17, 2013

Forex Flash: Anticipation and anxiety looms on BoJ – Westpac

The countdown continues to one of the most anticipated Bank of Japan meetings in memory, with the decision due next Tuesday. However, the seemingly unstoppable USD/JPY rally faltered this week on headlines from an unexpected source. On Tuesday, Japan’s economy minister Akira Amari said “he didn’t want to see the yen weaken excessively, given its impact on import prices.”

Forex Flash: Bund rally continues after bullish opening – RBS

“Bunds opened higher with a bullish gap, pointing to a likely continuation of the move upwards after reaching the first target of 143.30 and taking a breather in the nearby region. The next targets include 143.78 and 144.17, which are Fibonacci retracements from the January 2013 sell-off.” Suggests Technical Strategist Dmytro Bondar at RBS.