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Forex market reviews

25 October 2016

Market sessions

Gabriel Ojimadu

EUR/USD technically ready for drop

On Monday 24th October, the euro/dollar closed close to its opening level. During European trades the euro gained against the USD to 1.0900. It missed out on reaching the calculated level by 11 points. The rate returned to 1.0870.
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24 October 2016

Market sessions

Gabriel Ojimadu

EUR/USD: factors indicating a correction

On Friday, 21st October, the euro/dollar closed down. During the day three bottoms formed at 1.0896 (Asia), 1.0878 (Europe) and 1.0859 (USA). Pressure on the euro came from Draghi’s announcements on Thursday and his press conference after the ECB convened, in addition to expectations of a US rate rise before the end of the year.
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