Good morning traders,
Clean setup on US dollar versus Swiss Franc with strong resistance levels keeping this pair in check and forcing it lower towards 100. Our trading view chart has highlighted the key support and resistance levels at play for this pair.
We tested resistance levels again around 1.008 to 1.01 last week before pulling back and we are now looking...
Technicals look strong to me on the HTF. As the global economy starts to get a bit shakey, we should see the safe haven currencies move to the upside.
2019 is the setup for when shit really hits the fan. Keeping a close eye on Indices and gold as well.
Currently short USDJPY as the risk off scenario looks to continue with geo-political tensions growing between the US and North Korea we are seeing safe haven currencies and commodities appreciating.
Watching the 1HR charts we can see that price has respected the dynamic resistance of the 20EMA and created a C2 close off a 61.8 Fibonacci retracement.
Chart of the day: USDJPY. Safe-haven buying kicked in heavily Tuesday, also giving a boost to other local Asian currencies. Geopolitical unrest levels have risen substantially over the last few weeks: Syria, N.Korea, Russia and this has led to a move to buy those 'safer' assets. Gold, Yen all should benefit from the uncertainty.
On the Kagi chart the Yen is now...