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Forex market reviews

01 November 2016

Market sessions

Gabriel Ojimadu

Expected fall for EUR/USD

The euro/dollar closed slightly down on Monday. After a fall to 1.0936 the price rose to 1.0982. The pair bounced from its minimum following the GBP upwards on news the BoE’s Mark Carney will remain governor until the end of June 2019. On Thursday he will hold the latest BoE meeting regarding interest rates for the UK. After this we will see the minutes from the meeting and an inflation report.
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28 October 2016

Market sessions

Gabriel Ojimadu

EUR/USD: pinbar formed on the daily

On Thursday the USD managed to strengthen throughout the market during the American session. This allowed the sellers to close the daily candle down for the euro (pinbar). The US stats came out decent, but I think that the strengthening of the dollar was caused by technical factors and not fundamental ones. The euro dropped from its 1.0942 maximum to 1.0883.
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