USDCHF Analysis: Short-term bullish trend
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The US dollar has been back and forth against the Japanese yen for some time now, and I think that will continue to be the case as we head towards Labor Day in the United States on Monday.
The WTI Crude Oil market initially tried to rally on Friday but then broke down below the 50 day EMA.
The Australian dollar has recovered quite nicely during the trading session after initially breaking down on Friday, as we have reached below the 0.67 level at one point.
Keep in mind that there will be some electronic trading today but it’s also Labor Day in the United States so it’s very unlikely to have a huge move unless of course there was a shock over the weekend due to headlines.
The British pound initially tried to rally during the trading session on Friday, but then broke down significantly to reach below the 1.22 handle yet again.
The Labor Day holiday on Monday will keep electronic trading in the S&P 500 a bit muted, unless of course we had some type of headline coming out of the weekend which at this point I would almost be willing to bet money on.
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The US dollar has rallied again initially during the trading session on Friday but as you can see has rolled right back over as the markets are sitting just above the 20 MXN level,
The natural gas markets went back and forth during the trading session on Friday, reaching down towards the 50 day EMA before bouncing slightly.
The Gold markets went back and forth during the trading session on Friday as we continue to see a lot of noise out there.
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