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Forex market reviews

30 January 2018

Market sessions

Gabriel Ojimadu

EURUSD: technical factors weighing on buyers on the daily timeframe

On Monday the 29th of January, trading on the euro closed down. The main driver for this decline was the rise of the US dollar as well as bond yields. The US dollar index, which measures the dollar against a basket of major currencies, rose to 89.61, while US 10Y bond yields jumped to 2.7282%.
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29 January 2018

Media reviews

Tina Pham

Brussels prepared for trade war with US if it restricts EU imports (news: 29/01/18)

Brussels has warned that it stands ready to retaliate and potentially open up a transatlantic trade war if the US delivers on apparent threats to restrict European imports.
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Trading ideas

Gabriel Ojimadu

Short-term trading idea FX GBPCHF – looking down: awaiting confirmation of a double top

Trading opportunities on the currency pair: last week, this cross declined by 293 pips to reach 1.3199. This resulted in a double top formation, which will be confirmed should the pair drop below 1.3132. My forecast has the price breaking out of the B-B channel downwards, followed by a further drop to 1.2856 (50.0% of the growth from 1.2220 to 1.3492).
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Trading ideas

Gabriel Ojimadu

Short-term trading idea FX EURCHF - looking down: correction to the 38.2% Fibonacci level at 1.1372

Trading opportunities on the currency pair: since the euro’s collapse in 2015, it’s been trading within the boundaries of the 3-year B-B channel. Considering that the upwards impulse is running out of steam, my forecast is projecting an exit from the C-C channel and a decline to 1.1372. I’m expecting a downwards correction amounting to 38.2% of the upwards movement from 1.0625 to 1.1833.
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Market sessions

Gabriel Ojimadu

EURUSD: consolidation within Thursday’s range (25th Jan)

On Friday the 26th of January, trading on the euro closed up. The euro rose against the dollar during the Asian session before erasing all it gains in the US. The dollar rose across the board, ignoring the weak US GDP data for the 4th quarter.
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Alexander Razuvaev
Alexander Razuvaev

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