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Monday 18 July 2016

On the foreign exchange market is approaching summer lull

Last week, the JPY crosses have continued to grow, while at the periphery of the market place quite remarkable events are happening, but in general, it seems that the market returned to summer boredom, despite the fact that volatility is still much higher than in 2014.
EUR/USD was in one of the tightest ranges in its history, despite the banking crisis in the European Union and the existential problems that have arisen around Brexit. AUD/USD and USD/CAD also show no signs of life, though AUD/USD is trying to break through the highest level in more than two months.
The market is now busy looking for an equilibrium point for the British currency, which has experienced a shock due to Brexit and traders in pairs with the yen are trying to understand, when the Japanese authorities are going to take the next inevitable step. Given the common symptoms that indicate that the currency returned to average values, it can be assumed that the GBP/USD will develop from the zone 1,3400-1,3500 and JPY crosses will form a top, before continuing the downtrend.


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