Forex news from Federal Market Committee did have
significant impact yesterday. Dollar regained almost half that it lost in a
matter of a few trading sessions. FED gave a very clear signal that it will end
this stimulation program quite soon. No wonder stocks fell, gold and silver
collapsed and dollar rose. Technically it was all clear: Pound and Euro had
already made to their resistance.
One thing is not sure and that is what would be to the
downtrend in Japanese Yen. It looks like it is not over yet. Various Yen pairs
are taking out their resistance level, which means that Japanese Yen will
continue falling. If the momentum does not stop here we are going to see new
lows in eur/usd, gbp/usd and new highs in usd/jpy pairs.
Tomorrow Canada CPI is released. That should set the
tone for Canadian dollar pairs for the upcoming week.
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