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Dollar Renews Weekly Minimum

On Friday during European trades the dollar’s fall continues. Demand for the American currency started falling on Thursday after the US Fed declined to put the base rate for the country up and the Federal Reserve’s head gave a reserved speech. The euro/dollar has shifted its weekly maximum from 1.1440 to 1.1459. The pound/dollar hit 1.5658 due to dollar sales throughout the market.

The euro/dollar and pound/dollar reached some calculated targets and significant price levels on the hourly. The key currency pairs have slid back 30 points from their maximum. The euro/dollar is trading around 1.1428, with the pound/dollar going for around 1.5621. The economic calendar is empty this evening, so you can expect a correctional movement to take place towards 1.1395 on the euro and 1.5561 on the pound.

Attention:

Forecasts which are made in the review constitute the personal view of the author. Commentaries made do not constitute trade recommendations or guidance for working on financial markets. Alpari bears no responsibility whatsoever for any possible losses (or other forms of damage), whether direct or indirect, which may occur in case of using material published in the review.

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