Major currencies moving
The dollar has run lower after chair Powell said that he needs to see a significant, persistent inflation rise needed in order to hike rates.
The EURUSD has moved toa high price of 1.1134. The next target comes in at 1.11522. That is the 200 day moving average. The price is not been above the 200 day moving average since July 1
The USDJPY has moved toward the recent lows at 108.47 and 108.422. The low for the week at 108.422 equal the low from last week (double bottom. The low price just extended to 108.487.
The GBPUSD is trading at its highest level and looks toward the high price from yesterday at 1.32146 the high has so far reached 1.3205. On the hourly chart, the price moved above the underside of the broken trend line at 1.3190. The price is moving away from its 50% retracement of the move down from the 2018 high (not shown) that comes in at 1.3167. The UK election is another big event tomorrow which will influence the GBPUSD of course.
