Safe Havens Return Again - Forex News by FX Leaders

Safe Havens Return Again

Posted Thursday, May 31, 2018 by
Skerdian Meta • 1 min read

Late last week and at the beginning of this week the safe haven currencies found some strong bids as market sentiment deteriorated. We had two sell forex signals on EUR/CHF and USD/JPY which closed in profit as this two pairs dived hard. You should have received notifications for these signals if you are a registered member with us.

In the last two days though the market reversed. Risk currencies recovered some of the losses. EUR/USD moved more than 200 pips higher, while commodity currencies climbed more than 100 pips.

Safe havens on  the other hand, gave back some of the gains. EUR/CHF and USD/JPY moved higher yesterday. But safe havens are coming now. USD/JPY moved 60 pips lower in the afternoon today while EUR/CHF lost more than 100 pips. The decline in EUR/CHF was magnified by the reverse in EUR/USD which pulled back off the highs today.

GBP/USD also pulled back lower. This pair moved 70 pips lower, so it seems like risk currencies are pulling back lower while safe havens are advancing again. We will leave the market to cool off overnight and if safe havens are advancing again tomorrow we might get short on these two pairs again.

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About the author

Skerdian Meta // Lead Analyst
Skerdian Meta Lead Analyst. Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.
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