May 24rd 2019: The Swiss franc is setting up for a challenge
May 24, 2019 7:12 am
Morning Report: 07.00 London
This morning, the US dollar index is showing positive intent after yesterday’s reversal. This came about as the FOMC offered a more market neutral update which pointed to rate hikes being a distant possibility.
Dollar pairs are pausing after yesterday’s onslaught which saw the dollar pairs post impressive gains despite testing the lows earlier in the day. The EUR/USD crashed through 1.1110 before recovering to close above 1.1180. The GBP/USD lagged however, helping the EUR/GBP to extend its winning run, with a slight pull back this morning.
The USD/CHF sunk heavily yesterday as the dollar lost out to the Swiss frank. The pair closed below 1.0050 for the firs time since the middle of April. There are small gains this morning for the USD/CHF, as the EUR/ CHF also recovers from yesterday’s slump.
The USD/JPY also sunk heavily as the yen held its ground, falling to test 109.50 with small gains made this morning. The AUD/JPY is challenging the lows and testing support at 75.50. The EUR/JPY is just holding support at 122.50, while the GBP/JPY is attempting to recover from yesterday’s drop below 139.00.
Coming up today
Today, we have UK retail sales at 08.30.
At 12.30, we get US core durable goods orders.
Trade Idea
The Swiss franc is setting up for a challenge of the 1.0000 level. Any dip below here could be brief though, making a one touch trade attractive.
Morning Report: 07.00 London
This morning, the US dollar index is showing positive intent after yesterday’s reversal. This came about as the FOMC offered a more market neutral update which pointed to rate hikes being a distant possibility.
Dollar pairs are pausing after yesterday’s onslaught which saw the dollar pairs post impressive gains despite testing the lows earlier in the day. The EUR/USD crashed through 1.1110 before recovering to close above 1.1180. The GBP/USD lagged however, helping the EUR/GBP to extend its winning run, with a slight pull back this morning.
The USD/CHF sunk heavily yesterday as the dollar lost out to the Swiss frank. The pair closed below 1.0050 for the firs time since the middle of April. There are small gains this morning for the USD/CHF, as the EUR/ CHF also recovers from yesterday’s slump.
The USD/JPY also sunk heavily as the yen held its ground, falling to test 109.50 with small gains made this morning. The AUD/JPY is challenging the lows and testing support at 75.50. The EUR/JPY is just holding support at 122.50, while the GBP/JPY is attempting to recover from yesterday’s drop below 139.00.
Coming up today
Today, we have UK retail sales at 08.30.
At 12.30, we get US core durable goods orders.
Trade Idea
The Swiss franc is setting up for a challenge of the 1.0000 level. Any dip below here could be brief though, making a one touch trade attractive.
A good way to play this is a ONE TOUCH trade predicting that the USD/CHF will touch 0.9960 within the next 5 days for a potential return of 124%.
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