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Forex market reviews

08 June 2015

Market sessions

Analyst Contest participant

Alpari Analyst

Turkish Lira Falls to Record Low After Parliamentary Elections

The lira has sunk to a new low: 2.75 lira to the dollar. This drop was facilitated by the results from the Turkish parliamentary election on Sunday in which the AK Party failed to win a majority for the first time in 13 years.
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Commodities

Anna Kokoreva

Price of Brent Could Drop to 61 Dollars per Barrel

Oil quotes at the opening of this week have shown an insignificant rise. Brent crude at 10:40 EET was selling at $62.99, whilst WTI with July delivery was trading at $58.75 per barrel. At last week’s close, North Sea oil on July contracts was trading at $63.19 a barrel and the price of light crude was $58.93 per barrel.
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Trading ideas

Vladislav Antonov

Long-term Trading Idea FX NZD/CAD – Bear Speculation: Possible Break in Trend Line

Trading opportunity on currency pair: NZD/CAD rate has neared the trend line. According to the double top there’s the likelihood that the trend line will be broken. If the sellers are not able to strengthen below 0.8610, the NZD will take the rate southbound to 0.7946. This target is expected to be achieved by the end of the year. Minus the New Zealand dollar sales against the Canadian: a negative swap (-6.92 dollars per lot). If there’s a rebound it’ll be more worthwhile buying NZD.
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Trading ideas

Vladislav Antonov

Short-term Trading Idea FX GBP/CAD – Bear Speculation: Expecting a Break in the Support

Trading opportunities for currency pair: on Friday the GBP/CAD rate covered the growth for the week. Reverse candles are forming on the weekly graph. If pressure on the pound increases and the 1.8950 support is broken, I suggest looking at 1.8682 as a target level. The idea will cease to be valid after a growth higher than 1.9119.
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Trading ideas

Vladislav Antonov

Short-term Trading Idea FX AUD/CAD – Bear Speculation: Expecting a Break in the 0.94 Support

Trading opportunities for currency pair: the Canadian dollar received support from strong labor market data and growing price of oil. The AUD/CAD has inched closer to the support. The weekly indicators are in the neutral zone, so there’s a chance of passing the support and shifting to the lower limit of canal A.
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05 June 2015

Commodities

Analyst Contest participant

Alpari Analyst

OPEC Leaves Quota Unchanged

The Market’s attention was focused on OPEC’s meeting in Vienna. The extraction quota was left unchanged. According to official numbers, the cartel currently pumps out over 30 million barrels a day. In Iraq, Russia, Saudi Arabia and the USA, extraction is the highest it’s been for many years. If negotiations between leading world powers and Iran end up in the removal of sanctions, Iranian oil will flood the market.
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Securities

Alexander Razuvaev

IMF Recommended the Fed Staves Off Interest Rate Hike

The external conjuncture to today’s trading has been moderately negative. The American markets closed the previous session down, futures on the S&P index fell noticeably.
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Market sessions

Vladislav Antonov

Euro Trading Around LB in Expectation of NFP

Due to German bond growth on Thursday, the eurobulls managed to complete the final triangle at a maximum of 1.1379. By the close of the American session, the euro had fallen to 1.1235.
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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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