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Trump decides to go ahead with the Memorandum to introduce recipricol tariff plan.
- The USD moved higher and then it moved back down.
- The US stocks dipped a little and then rebounded.
- The US yields moved around as well but is now trading at session lows. The 10 year is down -11.5 basis points.
In the Forex:
- USDJPY: The USDJPY dipped to a new low but stays the cluster of MAs between 152.714 and 153.00. The low just reached 152.85
- EURUSD..The EURUSD fell tested swing area resistance at 1.0432 to 1.0441 (traded marginally above), fell to swing area support between 1.0371 and 1.0381, and bounced to the high swing area again between 1.0432 to 1.0441.
GBPUSD: THe GBPUSD fell to swing area support between 1.2474 and bounced quickly. The price is near the high for the day at 1.2541 and looks toward the next target at 1.25503.
USDCAD: The USDCAD moved to a target support near 1.4208, bounced to resistance near topside swing area betwen 1.4260 to 1.4269 and moved back down.
The patterns are becoming more predictable, but the timing can be difficult and volatility can cause issuel but “just buy the dip”
This article was originally published by Forexlive.com. Read the original article here.