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Trump Delivers a Blow Ahead of the Open
It’s risk off and only Trump and Twitter can prevent what looks set up to be quite a painful day for the bulls…
Over the weekend, U.S President Trump had stated that an agreement was close. There was a material shift going into Monday, however. News hit the wires overnight of Trump threatening to hike tariffs on $200bn worth of China goods from 10% to 25%. Trump also tweeted of the prospect of tariffs on an additional $325bn worth of goods. Talks are scheduled to kick off on Wednesday, which is now at the risk of being canceled by China.
EUR/USD: Market losing downside momentum
This morning the currency pair is trading at 1.1194. if euro breaks the resistance levels at 1.1223, the aim will be reaching and testing the zone 1.1249. If it is successful, the trend will continue to 1.1302.
Pivot 1.1192
Long above 1.1200 with targets 1.1247&1.1302 in extension
USD/CHF
This morning the currency pair is trading at 1.0163, If USDCHF drops below the support levels at 1.0145, it will try to find next support at 1.0126. In case of breaking down, the downward trend will continue to 1.0083
Pivot- 1.0160
Sell at price market with targets 1.0125 & 1.00835 in extension
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