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Forex market reviews

12 September 2017

Media reviews

Tina Pham

National debt hits historic $20 trillion mark (news: 12/09/17)

The U.S. national debt reached $20 trillion for the first time ever last Friday after President Trump signed a bipartisan bill temporarily raising the nation's debt limit for three months.
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Market sessions

Tomasz Wisniewski

Daily analytical report (12/09/17)

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The weekend was calm as North Korea peacefully celebrated its founding day and Hurricane Irma cause less damage than expected. Today, we'll be looking at global stocks, particularly the German DAX, and the EURUSD and USDPLN currency pairs.
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Market sessions

Gabriel Ojimadu

Euro bears poised to take 1.19

On Tuesday the 12th of September, during trading in Europe, the centre of attention, judging by price fluctuations, was the British pound. After the UK’s CPI data was released, the pound rose across the market. The pound/dollar rate jumped 100 pips to 1.3288 and the euro/pound rate dropped 89 pips to 0.8982.
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Market sessions

Gabriel Ojimadu

EURUSD: unclear situation around the trend line

On Monday the 11th of September, the euro/dollar rate closed down. The US dollar strengthened across the board thanks to a rise in US bond yields. Due to correctional movements and an empty economic calendar, buyers were beaten back to 1.1950. Now let’s look at Tuesday’s technical picture.
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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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Alexander Razuvaev
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Director of Alpari's analytical department

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