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US dollar rose Tuesday as signs that central banks around the world are pulling away from stimulative policies helped lift bond yields. Some analysts interpreted the decision as a sign that the central bank might eventually pull back some of its monetary stimulus. Higher interest rates tend to boost the dollar, as they make the US currency more attractive to investors seeking yield.
EUR/USD preference is short positions below 1.1955 with target at 1.1865. Alternatively, above 1.1955 look for further upside with 1.2010 as target. The Upward potential is likely to be limited by the resistance at 1.1955.
On the data slate there’s UK Industrial Production; UK Manufacturing Production; UK Visible Trade Balance; UK Trade Balance; US Mortgage Applications; UK GDP Estimate; US Import Price Index and US Crude Oil Inventories.
SELL EUR/USD @ 1.1960 OR BETTER – STOP @ 1.2010 – TARGET @ 1.1865
SELL GBP/USD @ 1.3560 OR BETTER – STOP @ 1.3600 – TARGET @ 1.3465
BUY USD/JPY @ 112.00 OR BETTER – STOP @ 111.70 – TARGET @ 113.00
SELL CL0218 @ 63.65 OR BETTER – STOP @ 64.00 – TARGET @ 61.00
SELL AUD/USD @ 0.7850 OR BETTER – STOP @ 0.7890 – TARGET @ 0.7765
SELL XAU @ 1315 OR BETTER – STOP @ 1322 – TARGET @ 1298
SELL XAG @ 17.10 OR BETTER – STOP @ 17.50 – TARGET @ 16.65
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