USD Remains Central Theme For Traders With Trade Tensions Resurfacing

Published 09/03/2018, 07:02 AM
EUR/USD
-
GBP/USD
-
USD/CHF
-
DX
-

The US dollar remains a central theme for traders with trade tensions resurfacing. Today we look at the daily charts for EUR/USD, USD/CHF and GBP/USD.

EUR/USD Daily

  • A bearish hammer warned of weakness below 1.1751 before rolling over.
  • Several bearish patterns have formed near the 1.1751/91 zone to reaffirm resistance at these levels.
  • A break of the 20-day average targets the 1.1530 low, a break of which brings the 1.1301 low into focus.

EURUSD Chart

USD/CHF Daily

  • The downside is at risk of overextension.
  • A bullish hammer has formed above 0.9650 support, which is stretched beyond the lower Keltner band and RSI is oversold.
  • Be on the guard for mean reversion above 0.9650 but bearish momentum remains whilst below 0.9788.

USDCHF Chart

GBP/USD Daily

  • A weekend gap has seen cable fall beneath July’s low.
  • A break of the retracement line could signify further downside.
  • The 1.2799 and 1.2662 lows make likely targets for bears seeking to trade in line with the dominant bearish trend.

GBPUSD Chart

Original post

Latest comments

Loading next article…
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2025 - Fusion Media Limited. All Rights Reserved.