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Forex market reviews

11 September 2017

Media reviews

Tina Pham

China Is Said to Ban Bitcoin Exchanges While Allowing OTC (news: 11/09/17)

China plans to ban trading of bitcoin and other virtual currencies on domestic exchanges, dealing another blow to the $150 billion cryptocurrency market after the country outlawed initial coin offerings last week.
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Market sessions

Gabriel Ojimadu

Dollar recovering its losses on the back of growing US bond yields

On Monday the 11th of September, as geopolitical tensions subsided, investors’ appetite for risk returned. In the European session, the dollar rose against the Japanese yen, Swiss franc, and gold. On the other hand, the US dollar lost ground against the loonie, British pound, and Kiwi dollar. The dollar/yen rate rose to 108.66 and the dollar/franc to 0.9512. Gold, meanwhile, has dropped by 0.77% to 1,336 USD/oz.
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Market sessions

Gabriel Ojimadu

EURUSD: price sitting on the balance line

On Friday the 8th of September, trading on the euro/dollar pair closed down. After hitting a new high of 1.2092 in Asia, buyers started cashing in on their long positions during the European session. The rate first fell to 1.2036 (-56 pips). During the second wave of euro selling, it fell against the dollar to 1.2015 (-21 pips).
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Trading ideas

Gabriel Ojimadu

Short-term trading idea FX USDJPY – bear speculation: building on the idea from 14/08/17

Trading opportunities on the currency pair: On Friday the 8th of September, before exchanges closed for the weekend, the dollar fell below the C-C channel in a drop amounting to 61.8% of the upwards movement from 101.19 to 118.66. Cyclical analysis indicates that the dollar is set to fall further; to 105.96 by the 10th of October. There’s an intermediate support zone with a range of 106.60 – 108.85. The case for a drop will disappear if the dollar manages to quickly recover to 109.65 and break through the trend line.
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Trading ideas

Gabriel Ojimadu

Mid-term trading idea FX EURCAD – bear speculation: building on the idea from the 10th of July

Trading opportunities on the currency pair: In the period from the 12th of July to the 11th of September, the Bank of Canada twice raised interest rates, with the key rate now at 1%. With this in mind, interest in the Canadian dollar is set to rise significantly. In my forecast, I’m predicting a continued drop on the euro to around 1.4351 – 1.4395. After this zone gets broken through, the Canadian dollar is expected to continue strengthening, reaching 1.3960 by the 14th of October this year.
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08 September 2017

Media reviews

Tina Pham

Euro nears $1.21 as divergence trades bloom (news: 08/09/17)

LONDON (Reuters) - The euro rose to a fresh 2-1/2 year high on Friday as currency bulls judged the central bank’s concerns about the strengthening currency at Thursday’s policy meeting as lukewarm at best.
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Market sessions

Tomasz Wisniewski

Daily analytical report (08/09/17)

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Everything is winding down for the weekend after some major decisions by the central banks of Canada and the Eurozone. However, there's still plenty to trade on, and with that in mind, we've brought you some opportunities on the currency pairs AUDUSD, EURGDP, and USDJPY.
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Market sessions

Veselin Petkov

The ECB’s decision continues to prop up the euro

The European Central Bank’s decision continues to provide support for the euro. The regulator yesterday took the decision to maintain the key rate at its current level of 0.00%, as well as to maintain the volume of its asset purchasing program at its current level of 60bn EUR a month. ECB president, Mario Draghi, hinted that the bank would provide more details on its plans for the asset purchasing program at the next meeting in October. Still, he stressed that they key interest rate would remain at its current level at least until the asset purchasing program has come to an end.
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Market sessions

Gabriel Ojimadu

EURUSD: expect a rebound from the 135th degree and U3 line

On Thursday the 7th of September, trading on the euro closed up. Mario Draghi’s press conference was the key event of the day, and volatility on the market surged as he was speaking. Everyone heard what they wanted to hear, but the bulls overpowered the bears.
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Alexander Razuvaev
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