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Around 1.0645, EUR/USD Sees Strong Resistance — UOB

  Around 1.0645, EUR/USD Sees Strong Resistance — UOB Forex Market(FX) Strategists of the UOB Group Quek Ser Leang and Peter Chia said that in the coming weeks, the EUR/USD should find significant support around 1.0645 points. Important Quotes 24-hour View:  On last Friday, the EUR Currency is increased to 1.0593 range, prior to the easing off and closed at 1.0560 (-0.25%). The underlying tone has improved, and the EUR is expected to test last week's high at 1.0605 today. We do not expect a sustained increase over this level for the time being. The next level of resistance is 1.0645. A violation of 1.0530 (minor support is at 1.0550) on the downside would signal that the present slight upward pressure has faded." In the Next 1-3 Weeks:  On last Thursday (May 19 th ), the EUR currency is increased to a high of 1.0607 points. The increase appears to be part of a corrective comeback with room to grow. Any rise, however, is likely to run into strong resistance at 1.0645. As l...
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What is a pip in forex trading?

A "pip" is a unit of measurement used to describe the difference in value between two currencies. A .0001 USD increase in value equals ONE PIP if EUR/USD increases from 1.1050 to 1.1051. The last decimal place of a pricing quote is commonly referred to as a pip. There are rare outliers, such as Japanese yen pairs, which go to four decimal points (they go out to two decimal places). For example, it is 0.0001 for EUR/USD and 0.01 for USD/JPY. A "pip" is a unit of measurement used to describe the difference in value between two currencies. A .0001 USD increase in value equals ONE PIP if EUR/USD increases from 1.1050 to 1.1051. The last decimal place of a pricing quote is commonly referred to as a pip. There are rare outliers, such as Japanese yen pairs, which go to four decimal points (they go out to two decimal places). For example, it is 0.0001 for EUR/USD and 0.01 for USD/JPY. What is a Pipette?  There are forex brokers who quote currency pairings to "5 and 3...
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Fix For USD/CNY: 6.7079 Versus An Expected 6.7046

  In today’s latest trade, the People’s Bank of China (PBOC) fixed the Yuan currency rate (CNY) at 6.7079 points in comparison with the estimated one at 6.7046 points, and the preceding day's trade closed at 6.7109 points. About the Fixation China manages stern control of the Yuan’s currency rate (CNY) on the mainland. The onshore Yuan (CNY) currency is always differentiated from the offshore Yuan (CNH) currency in the trading limitations, but the latter one is not as rigidly managed. On each morning, the People’s Bank of China (PBOC) fixes a so-called mid-point fix, which is based on the Yuan’s preceding day’s closing value and the various kinds of quotations taken from the inter-bank dealer. Learn to Trade with Best and Trusted Global Broker Start your journey with us and learn from basic to advance with one to one training session. Get full knowledge about the market from our expert team and become expert in market. Free Enquiry Now:    Click Here Forex Market News Cur...
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