Risk Off Is Back. Indices and EM Currencies Drop. Safe Havens Surge
Shocking night and morning for the vast majority of stock bulls. Indices are collapsing and the new strain of the virus is apparently to blame.
In this situation, safe-haven assets like gold for example are gaining traction. Gold is aiming higher after breaking the neckline of a small inverse head and shoulders pattern.
Yen is also gaining, USDJPY is currently performing an attack on the mid-term up trendline.
EURJPY is testing crucial long-term horizontal support on the psychological level of 128.
USDCHF is dropping after the false breakout from the symmetric triangle pattern.
EURUSD is trying a small bullish reversal to test the major horizontal resistance.
USDMXN advances higher after the breakout of an important horizontal resistance.
EURMXN continues the rise after the price escapes from a beautiful wedge pattern. A price action classic!
For a look at all of today’s economic events, check out our economic calendar.