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Forex market reviews

08 February 2016

Media reviews

Natalya Indeeva

China's Currency Reserves Plunged in January (News: 08/02/16)

China's foreign currency reserves plunged by $99.5bn in January, the People's Bank of China reported.
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Trading ideas

Vladislav Antonov

Short-term Trading Idea FX GBP/CAD – Bull Speculation: Break from Support with Two Pinbars

Trading opportunities for currency pair: the price has broken from the support. We have two pinbars and a double bottom. On Monday it’s better not to make any big deals and keep an eye on the price of oil. If the GBP/CAD doesn’t fall, we could see two price zones as a target: 2.0325 and 2.0550. If the price of Brent restores above $35, it will be worth staving off pound purchases.
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Trading ideas

Vladislav Antonov

Short-term Trading Idea FX USD/NOK – Bull Specualtion: Bounce from Trend Line

Trading opportunities for currency pair: in this idea I consider the technical signals – a bounce from the trend line. The USD/NOK has bounced from the line which goes from 6.1720 (22/08/14) and 7.2885 (15/05/15). The body of Friday’s candle fully covered that of Thursday. A similar situation was seen on 18/09/15. This is a bull signal (as on 18/09/15) so we need to keep an eye on the price of oil on Monday
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05 February 2016

Media reviews

Natalya Indeeva

U.S. Economy Added 151,000 Jobs in January; Unemployment at 4.9% (News: 05/02/16)

American employers eased up on the gas last month, but still added jobs at a healthy enough pace to help calm fears that the economy is on the verge of falling into a recession.
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Market sessions

Analyst Contest participant

Alpari Analyst

RBA Drops Inflation Forecasts

The BoE convened yesterday and kept their monetary policy unchanged. However, the way the voting went was different with Ian McCafferty changing his stance and joining the rest of the MPC in voting for things to stay the same. This says something about how the Bank is not yet ready to follow their American counterparts. The governor of the Bank of England, Mark Carney, announced that there is no reason to increase rates for the meantime. The MPC decision was taken taking the current worsening of external market factors and high financial market volatility into account.
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Analyst Contest

Analyst Contest participant

Analyst Contest participant

EUR/JPY

On the weekly chart there is a triangle pattern unfolding. The upper boundary of triangle which is also an indication of a down trend occurring since 2008 and well resistance for price movement. If you look at the daily chart, you can clearly see a bearish channel and how price reacting to those lines. In order to mark the end of this current down trend channel we need to see that price go beyond the upper line of channel and close above it.
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Market sessions

Vladislav Antonov

EUR/USD: Market Lying in Wait for NFP

The euro was up against the dollar on Thursday, having past 1.1200. The BoE and weak US stats had a positive effect on the price of the euro.
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Alexander Razuvaev
Alexander Razuvaev

Director of Alpari's analytical department

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Vadim Iossub
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