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Forex market reviews

31 May 2016

Media reviews

Natalya Indeeva

U.S. Consumer Spending Climbed at Fastest Pace in Nearly Seven Years (News: 31/05/16)

Personal spending, which measures how much Americans paid for everything from raincoats to restaurants, increased 1.0% in April from a month earlier, the Commerce Department said on Tuesday. That was biggest one-month jump since August 2009.
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Market sessions

Vladislav Antonov

Euro Breaks Through Trend Line

On Monday the euro/dollar spent the evening in a sideways after reaching 1.1144. This was due to low activity due to it being a day off in the US. The time has come for traders to gear up for the ECB meeting and Mario Draghi’s press conference on Thursday. It is expected that the key rates will remain the same. The ECB should also publish forecasts for economic growth and inflation in the Eurozone.
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30 May 2016

Media reviews

Natalya Indeeva

That Rate Rise Is Coming: Fed's Bullard Says Everyone Seems Prepared (News: 30/05/16)

“My sense is that markets are well-prepared for a possible rate increase globally, and that this is not too surprising given our liftoff from December and the policy of the committee which has been to try to normalize rates slowly and gradually over time,” Bullard told a news conference after speaking at an academic conference in Seoul.
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Market sessions

Vladislav Antonov

Expected Movement Against Friday

On Friday the euro weakened against the dollar after Yellen spoke. The Fed chief hinted that the interest rates will be put up in the coming months. According to data from CME Group FedWatch, futures for the rate’s likelihood of being increased in June didn’t change on Friday; reaming at 28%. However, for July this increased to 61%. By trading close, the euro/dollar renewed its month’s minimum, dropping to 1.1109. In Asia the euro fell to 1.1097.
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Trading ideas

Vladislav Antonov

Short-term Trading Idea FX GBP/JPY – Bull Speculation: Strengthening as Part of Upward Channel

Trading opportunities for currency pair: since 6th May a bull trend has been forming on the cross. The rate is rising via a complex formation with 28 and 33 bar periods. A break through the 162.50-162.80 resistance zone is expected after 31st May. The targets for the buyers according to the upper limits of the channels are 163.85 and 165.09.
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Alexander Razuvaev
Alexander Razuvaev

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