Dukascopy Bank Team
Dukascopy Bank SA
In line with expectations, a release of data on the US Durable Goods Orders as well as the Fed Meeting Minutes only bolstered the breakthrough through the monthly S1 at 112.05. In result of the downfall, the Dollar lost 0.8% against the Yen and was stopped only by the bottom boundary of the currently active descending channel near the 111.10 mark. As the pair still remains within the pattern, the buck is expected to start a gradual recovery. But to due to beginning of the Thanksgiving holidays and reduced liquidity the surge might be postponed even until the next week. To put it differently, this trading session the currency pair is likely to spend fluctuating between the weekly S1 at 111.40 from the north and support near the 111.10 from the south.
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