USD buying is cranking up

The US dollar is putting some pressure other currencies as it carries on pulling higher.

USDJPY has been a one way trade since Europe opened and it’s showing no signs of abating just yet.

USDJPY H4 chart 18 10 2017

We should find some resistanmce around 112.80, and 113.00 might be a tougher nut to crack before looking at the Sep highs. Support looks to be in place around 112.60, 112.45/50 and then 112.20/25.

EURUSD is looking very soggy as it tumbles to 1.1730. 1.174/50 is already building as resistance.

EURUSD Weekly chart 18 10 2017

EURUSD Weekly chart 18 10 2017

The 1.1700-1.1685/90 area has seen some decent support and it’s further supported now by the 200 WMA at 1.1699.

I’m going to watch the euro if it has a look at 1.1700, with a view to taking a long into the big figure. I’ll look at a stop under 1.1680.

It’s pretty much the same picture elsewhere with AUDUSD hovering around yesterday’s lows at 0.7820. USDCHF is trying to hold a break into 0.9800 and has managed a 0.9817 high so far.

US bond yields have crept up again with 10’s getting you 2.33% from 2.30%. Where they go, the dollar is never too far behind.

Ryan Littlestone

Psychedelic chartist extraordinaire. Have your shades ready.
Philosophy: “Don’t be a Dick for a tick”

Read how Ryan got into trading here
Ryan Littlestone

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