The US dollar has depreciated against the euro and the pound on Friday as US jobless claims and housing data fell short of expectations dampening expectations that the FED will reduce its monetary stimulus anytime soon. A lot of data from Japan tonight but nothing shocking all pretty much in line with expectations and Nikkei is recovering 1.6% at the moment with USDJPY being steady at 101.00 area.
Trade Idea
XAUUSD 4H Chart:
The precious metal has broken really important resistance at 1400 area and now looks poised for more gains even towards 1487. Stop losses in any attempted longs should be placed just below 1400 area.
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