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Forex Market Reviews

10 July 2017

Media reviews

## pham

Will the Bank of Canada Pull the Trigger? (News: 10/07/17)

To date, rising interest rates continue to overshadow geopolitical developments and it’s the Bank of Canada (BoC) turn this week to practice what G7 Central Banks have been preaching of late.
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Market sessions

Gabriel Ojimadu

Euro/dollar in danger of falling below 1.1380

On Monday the 10th of July, the US dollar index (DXY) is trading up thanks to Friday’s payrolls report. At the time of writing this review, the DXY is at 96.15 against a session high of 96.20. The euro/dollar rate has slid to 1.1382. The price is still within Friday’s range of 1.1380 – 1.1440. If the rate breaks out of this range downwards, pressure on buyers will sharply increase. In this case, the single currency will fall against the dollar to 1.1330/35 in the space of 20 hours.
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Trading ideas

Gabriel Ojimadu

Short-term trading idea FX EUR/USD – bear speculation: rebound from the upper boundary of the A-A channel

Trading opportunities for the currency pair: The price is trading around the upper boundaries of the A-A and C-C channels. On the monthly timeframe, there’s a risk of falling to 1.25, but the euro is expected to strengthen significantly from September onwards. In connection with this, the range from 1.1475 to 1.1595 will be used for selling euros, with targets of 1.12 and 1.0925. If, from September, the price continues to trade above 1.1290, it would be wise to close all short positions. In such a case, buyers will push the price to 1.25 to the upper boundary of the D-D channel. If we get a breakout of the C-C channel in July, it’s worth changing our target from 1.25 to 1.27.
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Trading ideas

Gabriel Ojimadu

Mid-term trading idea FX EUR/CAD – bear speculation: loonie to rise in anticipation of a rate hike from the BoC

Trading opportunities on the currency pair: On the expectation that the Bank of Canada will raise interest rates on the 12th of July, as well as the recovery in oil prices, I’m expecting the pair to fall to around 1.4340 – 1.4395. If the first half of my prediction works out, then we can set a target of 1.3880 for the 14th of October.
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Market sessions

Gabriel Ojimadu

EURUSD: drop to the trend line at 1.1380

On Friday the 7th of July, the euro closed down. Before the nonfarm payrolls report was released, the rate was trading within a range of 1.1407 – 1.1427 (20 pips). There was high activity among speculators keeping an eye on the market as the jobs report was being released. First, the euro rate reacted with a 20-pip slide to 1.1384, followed by a 57-pip surge to 1.1440. The market underwent some sharp fluctuations in both directions in the 5 minutes to follow. Once market volatility had subsided, the euro fell to 1.1380.
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07 July 2017

Market sessions

## wisniewski

Daily analytical report (07/07/17)

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With a focus on the US dollar, we look at the US dollar index, the Cable and USDMXN.
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Our Analysts

Alexander Razuvaev
Alexander Razuvaev

Director of Alpari's analytical department

Gabriel Ojimadu
Gabriel Ojimadu

Alpari analyst

Vadim Iossub
Vadim Iossub

Senior Alpari analyst

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