A few charts that i have on the radar for today .
USDCHF We seem to making a base. I’m reluctant to buy swissy today. The Geo-political risks are high going into the weekend with the market focused on the hot zone that is North Korea . Any display from the ‘dear leader’s’ private firework collection will spook the market, and CHF will revert to its traditional status as a safe haven. A chart i will be following closely none the less. I’m watching a very simple chart set-up. The blue band on the chart below tags an area of support and resistance that goes all the way back to March this year. A move into and above the band will trigger my long trade .
GBPUSD Again a very simple set up. I’m holding short from late US session. My previous short sell (posted yesterday) came within a whisker of my target level. I will be watching for a long trade on the break of the blue trendline/ blue band/ yesterday’s highs. Also a chance of a stall and reversal around these levels. So keeping nimble. Looking lower to the yellow band. A breakdown at this area could confirm a larger correction.(sell) .
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