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Forex market reviews

09 February 2016

Media reviews

Natalya Indeeva

Oil Could Crash Another 20% In 2016 (News: 09/02/16)

The International Energy Agency (IEA) just released its Oil Market Report for February which indicated a worsening scenario for the oil market. The report sees supply exceed demand by 2 million barrels per day in Q1, 2016 followed by 1.5 million barrels per day (mb/d) in Q2, 2016. As stated earlier, I think the oil glut is about worsen and that crude oil prices may fall another 20% from the current levels to sub-$25 per barrel.
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Market sessions

Vladislav Antonov

Euro/Dollar Expected Fall to 1.1168/70 in First Half of Day

A fall in the oil and stock indices has facilitated a fall in the dollar/yen to 114.20 and a rise of gold to $1,200 per troy ounce. The euro has strengthened against the dollar to 1.1215. The rate rose to 1.1237 in Asia
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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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