Forex Flash: EUR/USD could reach 1.4261 if goes above 1.3833 - Commerzbank

With a weekly close above the 200 week ma and the 55 MONTH moving average, “we will need to adjust higher our forecast and outlook”: “The weekly close above 1.3564 introduces scope to 1.3833, the 61.8% retracement of the move down from the 2011-2012 move”, wrote analyst Karen Jones, adding that “the move on Friday does look a little over-stretched and we would allow for some retracement towards the 6 week accelerated uptrend at 1.3459 ahead of further gains”. Above 1.3833, the Commerzbank analyst would allow for a move to the 1.4261 2008-2013 downtrend in the slightly longer term.

Feb 4, 2013

Forex: NZD/USD trading negatively at 0.8450/53

The NZD/USD has taken a dive in recent minutes, establishing a daily low in the neighborhood of 0.8435 during European trading Monday. However, support kicked in near the 0.8400, fortifying the pair from falling lower. At the time of writing the pair is still trading in negative territory, as the cross has settled in the 0.8450/53 mark.

Forex: EUR/GBP corrects Friday's rally, scope for 0.8800/30

Investors are witnessing today a retracement of Friday's rally ~150-pip rally to 0.8717 high that benefited from a strong euro and a weakening British Pound. The EUR/GBP has gone as low as 0.8654, where it currently trades.