Dollar rebounds after Trump backed down from his initial tough/high pressure position again. This time is about Syria. In his usual morning tweet, Trump said: “Never said when an attack on Syria would take place. Could be very soon or not so soon at all! In any event, the United States, under my Administration, has done a great job of ridding the region of ISIS. Where is our ‘Thank you America?'”
At around the same time just yesterday, Trump tweeted “Russia vows to shoot down any and all missiles fired at Syria. Get ready Russia, because they will be coming, nice and new and ‘smart!’ You shouldn’t be partners with a Gas Killing Animal who kills his people and enjoys it!”
These tweets reminded me of an old friend. We’re supposed to meet at a certain time but he’s not around past 30 mins or so. I called and asked, “hey are you coming?” And he said “yeah, I’m coming!”. After waiting for an hour, I called again and asked “hey you said you’re coming, didn’t you?” Then he answered, “yeah I’m coming. But I could come soon or not so soon at all!” Well, we’re never friends again since then.
Anyway, from the 4H heatmap, USD’s strength is centered against EUR, JPY and, CHF and NZD. EUR/USD looks safe for the momentum as it’s holding well above 1.2303 minor support. USD/JPY is at around the mid-point of range of 106.61/107.48. The more imminent move could be find in USD/CHF considering that EUR/CHF also resumed the medium term up trend yesterday.
