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USD RUB to watch

After this weekends attack on Syria regarding chemical attacks. Ruble may return to rally which taken place last week.
It is also possible TRY will follow. Rising oil prices and syria and Russia is effecting TRY.
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USD/CAD uptrend resumes, supported by fundamentals

Canadian dollar fell yesterday after dovish speech and comments by the BOC governor Poloz. U.S. president Trump fired secretary of state Tillerson and a couple of other officials also weighed on the currency. USD/CAD rallied about 150 pips low to high but stalled ahead of 100 WMA, which is backed by the big figure at 1.30. A successful break would target 61.8% retracement of the 2017 decline at 1.3130. 1.29 - 1.2925 is the initial support.
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Yen the performer of the week

Bank of Japan is turning every so slightly more hawkish, even though its officials are trying to downplay it. U.S. Administration's politics continues to weigh on the dollar, despite interest rate advantage against most major currencies. USD/JPY extended its decline, pausing at the 76.4% retracement of the Trump rally. If 105 - 105.5 area gives way, a quick fall to 101.5 - 102.5 is quite possible.
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Stock markets bounced, likely to consolidate in 10% range

Stock markets bounced firmly last week. The Dow, Trump's favorite benchmark of presidental success, retraced just over 61.8% and nearly all losses from the previous week, before profit taking set in ahead of the weekend. Barring anything that would spook investors, I think orderly correction has some further to run after some initial consolidation in 10% range, especially if bond yields keep rising.
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EUR/USD breaks above 1.25 but pulls back sharply

As expected, ECB kept policy steady. Draghi didn't try to talk down euro, which gave it another boost higher. Later, U.S. president Trump backtracked on what Mnuchin said a day earlier, saying that ultimately he "wants to see a strong dollar", which prompted a round of profit taking among U.S. dollar bears. EUR/USD already recovered half of that fall and appears ready to retest 1.25.
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Tax cut bill

Today, the tax cut bill has past.
Please be cautious at the sunday night open.
This is going to have a big impact on indices and the forex markets.
How is this going to shape markets in 2018?
1 Thing is for sure: volatility is back! Now that the some uncertainty has been taken out of the markets and we can go for a certain direction.
~~MyHedge~~
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U.S. dollar strong but yen outperforms

Cautious tones from ECB and BOC, weak Australian inflation one side and progress in U.S. politics and much better than expected Advance GDP reading on the other one were among the drivers of major currency pairs this week. BOE is expected to hike next week but it will be a one-off for now.
The U.S. dollar was mostly bought up until around the time Europe started heading for the pub. Rumor of Trump leaning toward Powell as the next Fed chair sparked a bout of profit-taking. The dollar ended the w…
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Playful Prankster

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USD/CHF testing top of its five-month range

There appears to have been some progress on the U.S. tax reform but it is all words so far. Trump hasn't managed to repeal and replace Obamacare but maybe he could gather sufficient support for lowering some taxes.
USD/CHF made another attempt at the strong resistance area at 0.975 - 0.98 this afternoon but pulled back sharply. That area is backed by descending 2016 - 2017 trendline and 200 DMA. 0.97 is the initial support and then 0.965.
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USD/JPY slips on North Korea headlines

Yesterday, North Korean foreign minister said that they understood Trump's comments over the weekend as a declaration of war. White House later said that they have not declared war on North Korea.
Yen was bought on the news and USD/JPY fell some 50 pips. The pair stalled ahead of 111.50 level, which is the immediate support. Pre-FOMC low near 111 and the big figure itself is the next area to watch. 112.30 - 112.70 is the initial resistance.
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