Good afternoon Forex Kings,
We are currently positioned in the favour of the USD and JPY.
It appears as though risk is returning to the market as tensions are increasing between China, the US and Australia.
To even out our current positions I am adding in a USD sell. Tonight the market is looking at the US producer price index which gives an indication into inflation. There is a growing concern that due to the amount of money the FED is printing the USD may become devalued and the cost of goods will increase.
The USDCHF is back below a key trend line which gives us a low risk high reward position.
USDCHF – 4 Hour Charts
Trade Setup: SELL – Market Execution (current price 0.9722), stop loss set at 0.9782 and take profit targets 0.9600.
Stop loss: 60 pips
Take Profit: 122 pips