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Forex market reviews

28 October 2016

Market sessions

Gabriel Ojimadu

## ojimadu name

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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27 October 2016

Market sessions

Gabriel Ojimadu

## ojimadu name

Expected fall for EUR/USD

On Wednesday as part of a correctional movement, the euro/dollar rose to 1.0947. The pair then dropped from this maximum after US stats came out. The values for the business activity index in the service sector and primary market housing sales in the US exceeded expectations. By trade close in New York, the euro had fallen to 1.0900 and to 1.0892 on Thursday in Asia.
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