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Forex market reviews

12 June 2017

Media reviews

Tina Pham

Tina Pham

Eyes on central banks after sterling shocker (News: 12/06/17)

The dollar dipped on Monday on the run-in to Wednesday's decision on U.S. interest rates, while Britain’s pound was back under pressure after a 2-cent fall following elections which threw Europe’s second-largest economy into political chaos.
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Market sessions

Gabriel Ojimadu

## ojimadu name

BTC/USD: Bitcoin hits a new all-time high

On Sunday, the 11th of June, the BTC/USD rate reached a new all-time high, testing the 3,000 USD mark. According to the Bitifnex exchange, the bitcoin rose to 3,003 USD. Media outlets continue to harp on about Blockchain, which is pushing up the prices of cryptocurrencies. Taking its cue from the bitcoin, another cryptocurrency, ethereum (ETH), also reached a new all-time high. The ETH/USD rate rose to 346.95 USD. Since the turn of the year, ethereum has appreciated by 3,400%.
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Trading ideas

Gabriel Ojimadu

## ojimadu name

Short-term trading idea FX AUD/USD - bear speculation: return to 0.7345

Trading opportunities on the currency pair: the price is currently trading in the middle of the range formed since April 2016. Large and small speculators alike are unsure what to do with the Aussie currency. Problems in China and a drop in raw assets prices have put pressure on the economy and the RBA remains in favour of reducing interest rates this year. Because of this, my first (and base) scenario has the price rising to 0.7605/10 followed by a return to the trend line at 0.7345.
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Trading ideas

Gabriel Ojimadu

## ojimadu name

Short-term trading idea FX NZD/USD - bear speculation: rebound from the upper boundary of the 1-1 channel

Trading opportunities for the currency pair: the last 4 weeks have seen the formation of a short-term bullish trend on this pair. There are no clear sell signals for the Kiwi dollar at this moment in time. A reversal model could form by the 22nd of June. Cycles point towards a slide for the exchange rate down to the TR2 trend line. As the upwards movement subsides, the target for downwards movement will be around 0.6938. If the weekly candlestick closes above 0.7376, this scenario will not play out.
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Market sessions

Gabriel Ojimadu

## ojimadu name

EURUSD: Euro trading at the balance line

On Friday, the Euro was down at the end of the trading session. The Euro fell against the dollar to 1.1166 during trading in New York. After the news that Theresa May had agreed to a "supply and confidence" arrangement with the Democratic Unionist Party of Northern Ireland, as well as a slide in US bond yields, our pair restored to 1.1204.
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09 June 2017

Media reviews

Tina Pham

Tina Pham

Dollar cleans up as UK election shock stuns sterling (news: 09/06/17)

A shock British election result that left no single party with a clear claim to power hit sterling on Friday and left the dollar on course for its best day in over a month, while world shares headed toward their first weekly fall since April.
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Market sessions

Gabriel Ojimadu

## ojimadu name

EURUSD: Euro slides against the dollar as the pound weakens

On Thursday, trading on the Euro closed down. The single currency slid in response to the EBC's decision to maintain key rates at their current levels as well a reduced inflation forecast. This year's inflation forecast for the Eurozone has been downgraded from 1.7% to 1.5% and for 2018 from 1.6% to 1.3%. By 2019, inflation is forecast to be around 1.6%. The forecast for economic growth in 2017 has increased from 1.8% to 1.9%.
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