In our Daily Trade Watch video, we look for high probability trade setups that we can trade throughout the day. Today, we discuss how dollar strength continues amidst the chaos in the markets.
We have seen an incredible move in the US dollar over the last couple of weeks. We have now truly seen the coronavirus take hold in Europe and the Americas. Additionally, we have experienced the monetary and fiscal responses from global finance try and put a floor under these falling markets. This has led to a demand for the US dollar on a global basis which has seen the USD strengthen against most currencies.
Today, we are looking for the US dollar to continue to strengthen. As a result, we are looking at the following trades:
- EURUSD to continue below 1.0650
- GBPUSD to continue below 1.1416
- USDJPY to continue above 111.00
- USDCHF above 0.9880
Dollar Strength Continues Amidst the Chaos – Full Video Analysis
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