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Forex Market Reviews

22 May 2017

Media reviews

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Forex News – UK Conservatives’ lead halves in polls, sending sterling below $1.30 (news: 22/05/17)

The ruling Conservative party in the UK is facing a backlash from both voters and party members following the inclusion in the party’s election manifesto of controversial changes to how social care would be funded for the elderly. The unpopularity of the policy was evident in the latest opinion polls from the weekend which pointed to a significant drop in support for Prime Minister Theresa May’s party.
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Market sessions

Gabriel Ojimadu

EUR/USD: quotes expected to recede towards the trend line

After trading on Friday, the Euro closed with some nice growth against the greenback. The price consolidated within a narrow range around 1.1108 during the Asian session. As trading opened in Europe, the rally continued. By the time of the US session, Euro-bulls had returned the rate to 1.1172. New York trading brought it up to 1.212. While political tensions in the US have eased slightly, the general sentiment around the dollar remains the same. Its slide could be triggered by commodity currencies, who have strengthened on the back of rising oil prices.
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19 May 2017

Market sessions

Gabriel Ojimadu

EUR/USD: pair has entered a correctional phase

Trading on the Euro closed down on Thursday, with a breakout of the trend line ending the 4-day rally. The pair fell to 1.1076 but sellers weren't able to close the day below 1.1082 (the opening price of the candlestick on the 17th of May).
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