Following the strong momentum of last night when USD appreciated against all of its crosses, we are watching a retracement during the European session. For now, the short-term impulse remains rising and short positions are risky. However, we remain cautious about a Japanese candle signal that suggests reversing to position itself again for an expensive dollar. The correction touches key levels by waiting for the start of the US session and the first 15 to 30 minutes to be sure.
If the impulse continues, it may be that the impulse of last night was just for snatching and seeing a weak dollar. However, this scenario remains less likely.
The levels we see at EURUSD are current and slightly higher at 1.1535, GBPUSD 1.3040 and USDJPY 113.90.
The JPY shows strength as European indices are trading down, and moods before the start of the American session remain largely negative. The news of a likely $ 1.6 billion for Facebook and the likely placement of spy microchips in Apple's devices for now sharpen investors' attention to safe-heaven tools.
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