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Forex market reviews

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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06 October 2017

Media reviews

Tina Pham

Hurricanes Harvey, Irma sink U.S. payrolls in September (news: 06/10/17)

WASHINGTON (Reuters) - U.S. employment fell in September for the first time in seven years as Hurricanes Harvey and Irma left displaced workers temporarily unemployed and delayed hiring, the latest indication that the storms undercut economic activity in the third quarter.
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Market sessions

Tomasz Wisniewski

Daily analytical report (06/10/17)

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The US dollar edges down as we approach the NFP report and we have some interesting trading opportunities on the EURUSD, USDMXN, and AUDUSD currency pairs.
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Market sessions

Gabriel Ojimadu

EURUSD: flat expected leading up to payrolls

On Thursday, the 5th of October, trading on the euro/dollar pair closed down. The euro shed 0.68% (-80 pips), dropping from its session high of 1.1779 to 1.1699. First, the pound dragged the other majors down with it. The dollar was later propped up by the release of positive data in the US and some statements from Fed representatives.
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Our analysts

Alexander Razuvaev
Alexander Razuvaev

Director of Alpari's analytical department

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Vadim Iossub
Vadim Iossub

Senior Alpari analyst

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