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U.S. Dollar the Default Safe Haven for Now

U.S. Dollar the Default Safe Haven for Now

AliceRobert
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U.S. Dollar the Default Safe Haven for Now

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  1. U.S. Dollar the Default Safe Haven for Now JPY and EUR are the top G10 FX gainers today, up 0.23% and -0.27% vs the dollar while NOK and SEK are the top losers, down -1.1% and -0.68% vs the dollar. Sterling fell as investors seek safe havens currency such as the U.S. dollar worried by the potential economic impact of coronavirus. Analysts are relatively positive on the U.S. economy compared to the rest. The euro fell back $1.08 and the Aussie dollar also dipped to 11-year lows on the rapid spread of the coronavirus outside China. The Milan stock exchange had the worst day since 2016 as the virus pandemic reached northern Italy. In the Asian equities space, Hang Seng closed -1.79% at 26820.88 and Kospi ended -3.87% at 2079.04. The European equities were trading weaker with the FTSE down -3.23% at 7165.01, DAX down -3.65% at 13083.04, and CAC down -3.51% at 5817.96. In the rates market, global yields were trading weaker; the US 10-year yield was trading at 1.3922% and the Bund 10-year yield trading at -0.491%. In the energy space, the Brent (front month) is trading down (-3.78%) for the day at $56.29, the oil traders were also worried from the economic impact of the Corona Get Real Time Forex Trade Ideas https://research.tradermade.com/ Economic Calendar

  2. 10-year Yields Daily Chart (6-month) Daily FX Pivots

  3. Brent Crude Daily Chart (1-month) (Content and Data by Tradermade) Forex Chart and Technical Analysis EURUSD Chart (Two-week) Strategy: Support at 1.0799 for 1.0879

  4. Short-term view: EUR/USD support comes in at 1.0799, MACD above zero and RSI is above 50. Hence we see an upside to 1.0912. Below 1.0799 to open 1.0751 GBPUSD Chart (Two-week) Strategy: Support at 1.2836 for 1.2939 Short-term view: GBP/USD support comes in at 1.2836, MACD crossover suggests a bullish bias and RSI is above 50. Hence we see an upside to 1.2939. Below 1.2836 to open 1.2793 USDJPY Chart (Two-week)

  5. Strategy: Resistance at 111.73 for 110.56 Short-term view: USD/JPY resistance comes in at 111.73, MACD crossover suggests a bearish bias and RSI is below 50. Hence we see a downside to 110.56. Above 111.73 to open 112.0 AUDUSD Chart (Two-week)

  6. Strategy: Resistance at 0.6641 for 0.6495 Short-term view: AUDUSD esistance comes in at 0.6641, MACD crossover suggests a bearish bias and RSI is below 50. Hence we see a downside to 0.6495. Above 0.6641 to open 0.6672 Also see Forex Historical Data

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