› Market review, September 18 -22, 2017

Market review, September 18 -22, 2017

EUR/USD

Within the whole week US, dollar dominated entire currencies basket.
After assessing the most possible scenario for abolishing the ECB's softening economic program, ECB heads began to make verbal statements about economy stabilizing, and the possible gradual reduction of the QE program with inflation at 2%.
This act has cooled the "bulls" who drove the price to the top, and that led to a weakening of the uptrend.
By the end of the week, negative US reports on retail sales stopped the strengthening of the dollar.
The past week closed below the psychological level of 1.20, which gives market participants the opportunity to return to "corridor trading" again.


Market review, September 18 -22, 2017


GBP/CHF

For the first part of September, GBPCHF pair returned positions lost in August and rose to the high levels, reached in May 2017 and September 2016.
Despite ongoing Brexit negotiations, technical analysis shows us an excellent opportunity to enter the deal for the long term.
On September 25, the next round of talks on the exit of Britain from the Eurozone is scheduled, until this moment experts predict a downtrend, on expectations of the final decision on Brexit.


Market review, September 18 -22, 2017


Apple

On September 12, 2017 so much expected by many Apple fans event took place - the presentation of the new IPhone 8.
And it attracted attention of consumers, as well as traders.
As predicted, the shares began to decline, and on Thursday, market closed on $ 158.29, which is $ 2.25 less than at the time of market opening on Monday.
This movement was in line with our forecasts, and in the future there is a high probability of strengthening the shares of the techno giant.
According to the technical analysis, it is possible to continue the downward movement to the levels of $ 158.38 or even $ 158.14, and further, the beginning of the upward movement in the long term.


Market review, September 18 -22, 2017


Bitcoin

Over the past week, bitcoin has set a new, though negative record: the most popular crypto currency lost almost 12% of its price due to the number of negative news:
1 - Statement by the Chinese authorities that they plan to close the crypto-exchange located in China;
2 - Severe criticism of the JPMorgan general director James Dimon against crypto-currency. During his speech at the Delivering Alpha conference in New York, he called bitcoin "fraud".
Experts believe that the fate of crypto currency is not clear.
Without further support from achieved such a huge popularity due to the fact that there is a need, or demand.
From the point of view of technical analysis, it is highly probable that Bitcoin's corrective movement will continue and that he will conquer new heights in the long term.


Market review, September 18 -22, 2017



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