Forex Forecast and Technical Analysis EURUSD on February, 02 2016

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Expected Test of 1.0930/40

Yesterday’s Trading:
The euro/dollar slid to the balance line by at 1.0885 by American opening on Monday. After varying US data came out, the euro strengthened to 1.0912 against the dollar. The PMI and ISM in the manufacturing sector were in different directions. The PMI was down and the ISM was in line with forecasts, but December’s value was reassessed downwards.

Short-term Trading Idea FX EUR/USD – Bull or Bear Speculation: Bounce or Break from the Trend Line

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Trading opportunities for currency pair: the euro/dollar has slid to the trend line. From here we could see a bounce since Monday’s movements usually go against Friday’s. The bounce level will tell us how the sellers are set up. A growth to 1.0938 means we should prepare for a break through 1.0985 and then 1.1025.

Short-term Trading Idea FX USD/JPY – Bull Speculation: Growth to 123.45 via Recoil to 120.20

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Trading opportunities for currency pair: the Bank of Japan has brought in negative interest rates – minus 0.1%. The yen has weakened against the dollar by 290 points. If the stock markets aren’t swinging, we could see a growth in the pair to 123.45 after a rebound to 120.20. Further growth to cease with a close of the daily candle below 119.55.

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