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Forex market reviews

10 October 2017

Market sessions

Tomasz Wisniewski

Daily analytical report (10/10/17)

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Lots of reversals this week after Friday's game-changing employment report. Today we look at some potential trading opportunities on gold, silver, and GBPJPY.
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Market sessions

Gabriel Ojimadu

EURUSD: buyers readying for a breakout of the A-A channel

On Monday the 9th of October, trading on the euro/dollar pair closed slightly up. Before buyers decided to launch an assault on the B-B channel, they twice returned to the LB balance line. Given that exchanges were closed in the US and Canada due to national holidays, trader activity on the Forex market was low.
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09 October 2017

Trading ideas

Gabriel Ojimadu

Short-term trading idea FX EUR/USD – bull speculation: right shoulder to form

Trading opportunities on the currency pair: Since dropping to 1.1662, the rate has formed an inverse head and shoulders model on the daily and weekly timeframes. For its completion, the right shoulder needs to form with a target of around 1.1880 by 23/10/17. By the end of October, downwards movement should resume. Therefore, from 1.1880, we can start betting on the rate to decline. It seems to me that ideally, this reversal model won’t work out. Trade carefully.
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Trading ideas

Gabriel Ojimadu

Short-term trading idea FX GBP/USD – bull speculation: rebound from the TR2 trend line

Trading opportunities on the currency pair: Since the 20th of September, the British pound has shed around 600 pips against the US dollar. The drop started with a pin bar model. From looking at the cycles, I’m expecting the rate to drop to the TR2 trend line or the range from 1.3000 to 1.3016, followed by a recovery to 1.3350 – 1.3490. We should keep the 21st of October and 29th of November in mind for possible reversal dates. From the trend line, I’ll start trying to trade with the trend with targets of 1.3350 and 1.1390. After the 28th of November, I’m expecting a downwards reversal and a breakout of the TR2 trend line.
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Market sessions

Gabriel Ojimadu

EURUSD: test of the B-B channel expected

On Friday the 6th of October, trading on the euro closed up. Before the US data was released, the euro/dollar pair was trading within a 30-pip range of 1.1686 to 1.1716. Volatility on the pair surged as the NFP report was being published. The rate initially reacted with a 40-pip drop to 1.1670, followed by a 69-pip surge to 1.1739. These sharp fluctuations continued for a couple of hours before the pair entered a sideways trend.
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