So what are we lookin at? We have been looking at the weakest price in dollar yet.Yesterday we tested the yearly lows at 97.700 which we are using as current baseline. I will mark up that price range to use as our support. Geopolitical tensions are cooling off as Trump called for ceasefire between the two war torn nations but we still have lots of economic data flowing in. Most attention fall towards Fed chair Powell speech as this will shape up the direction of the dollar going forward as we head to a new month. Correction higher means USDJPY will rise as we are having a steady Yen currency. We saw the dollar fail to hold above 99.300 which is our nearest resistance level marked by a horizontal ray.So focus is on those two price levels so as to enable us find opportunities to trade.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.