Confirming you are not from the U.S. or the Philippines

By giving this statement, I explicitly declare and confirm that:
  • I am not a U.S. citizen or resident
  • I am not a resident of the Philippines
  • I do not directly or indirectly own more than 10% of shares/voting rights/interest of the U.S. residents and/or do not control U.S. citizens or residents by other means
  • I am not under the direct or indirect ownership of more than 10% of shares/voting rights/interest and/or under the control of U.S. citizen or resident exercised by other means
  • I am not affiliated with U.S. citizens or residents in terms of Section 1504(a) of FATCA
  • I am aware of my liability for making a false declaration.
For the purposes of this statement, all U.S. dependent countries and territories are equalled to the main territory of the USA. I accept full responsibility for the accuracy of this declaration and commit to personally address and resolve any claims or issues that may arise from a breach of this statement.
Cancel Confirm
We are dedicated to your privacy and the security of your personal information. We only collect emails to provide special offers and important information about our products and services. By submitting your email address, you agree to receive such letters from us. If you want to unsubscribe or have any questions or concerns, write to our Customer Support.
Confirm
Octa trading broker Sign up Log in
Octa trading broker
Open trading account
Trading news
Back
17 Jan 2024

EUR/USD Price Analysis: Hovers above the 38.2% Fibonacci, edges lower to near 1.0870

  • EUR/USD extends its losses to near 38.2% Fibonacci retracement level at 1.0867.
  • A break below the 1.0850 level could prompt the pair to reach the psychological region around the 1.0800 level.
  • The selling interest could outweigh the buying interest at the psychological level of 1.0900.

EUR/USD continues to move on a downward trajectory for the second successive session, trading lower near 1.0870 during the Asian session on Wednesday as the US Dollar (USD) continues to extend its gains. The strength of the USD is attributed to the market caution on the geopolitical situation and upbeat US bond yields. The current level aligns with the 38.2% Fibonacci retracement at the 1.0867 level followed by the major support at the 1.0850 level.

The 14-day Relative Strength Index (RSI), a momentum oscillator that measures the speed and change of price movements, for the EUR/USD pair, is positioned below the 50 mark, indicating a bearish momentum in the market. A break below the support region could put downward pressure on the pair to navigate the area around the psychological support at 1.0800 followed by the 50% retracement level at 1.0787.

Additionally, the trend-following momentum indicator “Moving Average Convergence Divergence (MACD)” line lies above the centerline, but shows a divergence below the signal line for the EUR/USD pair. This divergence indicates a potential shift in momentum towards a downward trend.

On the upside, the psychological level at 1.0900 serves as the immediate resistance, followed by the 14-day Exponential Moving Average (EMA) at 1.0938 and the major barrier at 1.0950 level, where the selling interest tends to outweigh the buying interest. If the EUR/USD pair manages to break above the 1.0950 level, it could inspire bullish momentum, allowing traders to explore the region around the psychological level at 1.1000. Beyond that, attention may turn to January's high at 1.1038 as a further resistance level.

EUR/USD: Daily Chart

 

Jan 17, 2024

GBP/JPY Price Analysis: Eases from six-week peak ahead of UK CPI, bullish bias remains

The GBP/JPY cross retreats from its highest level since December 4, around the 186.35 area touched during the Asian session on Wednesday and for now, seems to have snapped a two-day winning streak.
Read more Previous
Jan 17, 2024

USD/CHF edges higher to near 0.8620 on geopolitical tension, awaits US retail sales data

The USD/CHF pair continues its winning streak that started on Thursday, influenced by a cautious market stance due to concerns over the Israel-Gaza conflict potentially spreading in the region.
Read more Next