Dollar Tumble Continues
- EUR/USD dipped to a session low of 1.1279 levels after ECB’s chief economist assured markets that the central bank could cut rates further. Trading Central prefers long positions above 1.1240 with targets @ 1.1345
- GBP/USD prices rose as high as 1.4503 in US session before falling back to 1.4470 levels. Another wave of USD selling hit the markets in Asia amid rally in stocks, but the spot again failed to take out 1.45 levels. Trading Central prefers long positions above 1.4360 with targets @ 1.4510
- Gold profit taking ahead of the weekend weighed over Gold. Consequently, the metal fell from the Asian session high to trade 0.35% lower on the day around $1260/Oz levels. Trading Central prefers long positions above 1254.00 with targets @ 1276.00
- USD/JPY tumbled on Thursday to dip briefly under the key support of 111.00 level. The Fed’s announcement followed a day after the BOJ kept interest rates on hold allowed the yen to surge against the dollar on Tuesday, pushing USD/JPY well below its key 114.00-area resistance level. Trading Central prefers short positions below 112.30 with targets @ 110.60
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