Failing to reach targets yesterday the USD has taken a small retraction and hit support level 102.13. while overall long term expectations for the USD are bullish, today’s movements are slated towards a downtrend throughout the European market until the evening. Once the price action reaches support level 101.63, a correction is expected to be seen and allow the currency to recover losses. Traders are advised to look for PUT options ranging form 30 minutes to one hour.
In line with other USD pairs, the USD/CHF has taken a large loss over the last week and is set to correct over the coming days. CHF as a currency is generally strong and has so far prevented and substantial gains by the USD. After resting on support level 0.8804, another rally is expected today up to target resistance 0.8838. traders are advised to look for CALL options for up to 1 hour if the asset continues in a bullish trend. In the event the asset breaks current support, the strong PUT options for 30 minutes are advised.
Starting off the day already with little movement has indicated a bearish sentiment towards the EUR. As the day continues expect to see further losses as the market corrects for yesterdays gains. Todays expectations are for a long downtrend as the American market picks up volatility and begins to raise USD price actions. Traders are advised to look for PUT options form 10 to 30 minutes from mid-day until the evening(GMT time).