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Forex market reviews

11 January 2016

Media reviews

Natalya Indeeva

Crude Oil Nears 12-Year Low as Hedge Funds Head for Exit (News 11/01/16)

Futures dropped as much as 2.8 percent in New York after tumbling 10 percent last week. Speculators’ net-long position in West Texas Intermediate declined 24 percent in the week to Jan. 5, U.S. Commodity Futures Trading Commission data show. Producer prices in China fell for a record 46th month, bolstering concern about the world’s second-biggest economy. A rapid appreciation of the U.S. dollar may send Brent oil to as low as $20 a barrel, Morgan Stanley said.
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GBPJPY – History Repeating Itself?

A fundamental tenet of Technical Analysis is that history tends to repeat itself. The repetitive nature of price movements is attributed to market psychology; in other words, market participants tend to provide a consistent reaction, the collective psychology of fear vs greed to similar market events. An analog chart takes a historical price pattern and overlays it onto a current emerging price pattern which may (or may not) follow the same path as the historical pattern.
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Commodities

Alexander Razuvaev

World’s Largest Oil Company from Saudi Arabia to go Public

Information about the privatisation via an IPO of state Saudi oil company Saudi Aramco has appeared in global journalistic publications. Aramco currently controls over 10% of the world’s oil. The main thing which is worrying the market is as to whether the sale of Saudi Aramco shares will change the price set up on oil via a refusal to reduce extraction.
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Market sessions

Vladislav Antonov

Euro/Dollar Situation Contradictory

The euro/dollar closed slightly down on Friday. Moreover, after the publication of strong NFP data, a long shade appeared on the daily candle. The key currencies were showing mixed movements by the end of the trading session. Whilst one strengthened against the dollar, another weakened, Now I will explain why this happened
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08 January 2016

Media reviews

Natalya Indeeva

Shock, Laughter Greet Plan for Saudi Arabia's Record Oil IPO (News 08/01/16)

Saudi Arabian Oil Co., or Aramco, the world’s largest oil producer, said Friday it’s considering an initial public offering. It confirmed an interview with Deputy Crown Prince Mohammad bin Salman published in the Economist Thursday. The news was greeted with incredulity in the financial industry, according to interviews with a half dozen bankers who do business in the Middle East. They asked not to be identified to protect their business interests.
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EURJPY – Further Downside Seen

The monthly chart of the EURJPY currency pair shows the negative divergence with RSI which warned of a trend reversal. The pair reached 150.00 before heading lower to current levels (around 127.45). With RSI trending down and MACD about to cross the zero line, the pair looks set to move lower. Fibonacci retracement levels provide useful downside price targets as do horizontal support and resistance lines (blue).
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Market sessions

Vladislav Antonov

Chinese Markets Stabilizing – Euro/Dollar Down

Thursday’s close had the euro up against the USD to 1.0939. Support for the euro came from European stats and a crash of stock market indices. Let me remind you that the Chinese stock market on Thursday had trading closed within half an hour of it opening due to the Shanghai Composite falling by more than 7% (fall of 7.04%), thus triggering the circuit breaker rule and market closure. Other indices across the world followed the Chinese, with the Dow Jones down 2.32% to 16,514 and the S&P down by 2.09% to 1,949 points.
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Alexander Razuvaev
Alexander Razuvaev

Director of Alpari's analytical department

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Vadim Iossub
Vadim Iossub

Senior Alpari analyst

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