Daily Market Comment – Stocks dive again as recovery in doubt; dollar stands tall

Posted on September 24, 2020 at 9:10 am GMT

Global equities follow Wall Street lower as fears of major winter wave mount Fed’s call for more fiscal stimulus falls on deaf ears Dollar trounces rivals, commodity currencies sink Stocks slump as optimism fades Rising pessimism about the prospect of a swift economic recovery from the pandemic dragged down equities on Thursday. The rout in global stock markets follows a sharp slide on Wall Street on Wednesday when the Nasdaq Composite plunged by 3% and the S&P 500 lost 2.4%. [..]


SNB: Keeping a rate bullet in the chamber – Forex News Preview

Posted on September 22, 2020 at 3:25 pm GMT

The Swiss National Bank (SNB) will conclude its meeting at 07:30 GMT Thursday, and with Switzerland having fallen back into deflation, markets are pricing in a 30% chance for a small rate cut. That said, the SNB already boasts the lowest rates worldwide, so it is unlikely to cut any deeper as running out of policy ammunition would risk generating a negative expectations loop. Instead, it will probably stick to huge FX interventions. The franc may tick higher on the [..]


Week Ahead – Tracking the recovery: is Europe lagging the US?

Posted on September 18, 2020 at 12:54 pm GMT

The latest flash PMI releases will dominate the economic agenda next week as the recovery in the United States appears to be picking up a gear, while the European rebound may have hit a snag. The tables have been turning lately in the US vs Eurozone recovery story, threatening to unravel the euro rally. Trying to predict the economic comeback from the pandemic will also be preoccupying policymakers at the Reserve Bank of New Zealand at their September meeting amid [..]


Technical Analysis – USDCHF exposed to a bullish trend reversal

Posted on September 17, 2020 at 7:44 am GMT

USDCHF’s sell-off seems to have found a bottom around its 5 ½-year low as the five-week old range looks to have transformed to an inverse head and shoulder pattern – a bullish signal that the price may change direction to the upside. However, this is not the only encouraging sign. In momentum indicators, the RSI has been printing higher highs and higher lows along an ascending trendline and is currently ready to cross back above its 50 neutral mark. Likewise, the MACD [..]


Technical Analysis – USDCHF consolidates below dictating SMAs

Posted on September 10, 2020 at 12:22 pm GMT

USDCHF has glided into a sideways structure where upside moves have been capped by the 50-day simple moving average (SMA). The recent flattening out of the now fused Ichimoku lines backs the recent ranging in the pair, while all SMAs maintain their forged bearish tone. The short-term oscillators reflect the pause in the market but convey a pick-up in negative sentiment. The MACD, although having strengthened above its red signal line in the negative region, looks set to fall back [..]


Daily Market Comment – Wall Street rediscovers gravity ahead of US jobs report

Posted on September 4, 2020 at 1:25 pm GMT

Stock markets tank as investors dump their tech darlings Yet, there is no sense of panic in the market, especially among currencies US jobs report today might decide if this correction still has some mileage in it Risk aversion makes a rare appearance After cruising higher without any significant corrections for three months now, the US equity market finally suffered a meaningful setback on Thursday. The S&P 500 lost 3.5% and the Nasdaq was down 5% as investors dumped tech [..]


Technical Analysis – USDCHF curbed by 200-MA; neutral tone forming   

Posted on September 3, 2020 at 9:01 am GMT

USDCHF is currently struggling with the 200-period simple moving average (SMA) at the 0.9139 barrier, after jumping above the very-short-term descending line drawn from 0.9239. That said, the flat blue Kijun-sen line and the levelling out of the bearish 50- and 100-period SMAs suggest that a sideways pattern may be developing. The short-term oscillators are reflecting conflicting signals of momentum, backing a directionless market. The MACD, in the positive area, holds above its red trigger line, while the stochastic oscillator [..]


Technical Analysis – USDCHF fades further; negative formation prevails

Posted on August 27, 2020 at 12:39 pm GMT

USDCHF is currently restricted by a very short-term diagonal line, which is maintaining the price’s bearish tone within a confirmed broader negative pattern.  Further aiding the moulded negative picture is the bearish bearing of the Ichimoku lines and the simple moving averages (SMAs). That said, the short-term oscillators are emitting conflicting signals in directional momentum. The MACD, in the negative region, is strengthening above its red signal line, while the RSI is improving in bearish territory. Nonetheless, the negative demeanour [..]


Technical Analysis – USDCHF tumbles after the pullback on the falling trend line

Posted on August 20, 2020 at 12:17 pm GMT

USDCHF pulled back on the two-week descending trend line around 0.9160 after the aggressive buying interest in the preceding sessions. The RSI rebounded on the 70 level, while the stochastic oscillator created a bearish crossover within its trigger and zero lines in the overbought region. Both are suggesting the continuation of the bearish sentiment. If the pair weakens, the 23.6% Fibonacci retracement level of the down leg from 0.9467 to 0.9008 at 0.9116 could provide immediate support ahead of the [..]


Technical Analysis – USDCHF stands in descending triangle near 0.9100

Posted on August 13, 2020 at 10:20 am GMT

USDCHF has been in a slightly descending movement since August 3 with strong support level at the 0.9050 barrier. Currently, the price is holding beneath the 20- and 40-period simple moving averages (SMAs) and the Ichimoku cloud, however, the technical indicators are suggesting a rebound. The RSI is pointing marginally up in the negative zone, while the stochastic is creating a bullish crossover in the oversold territory. A climb above the 23.6% Fibonacci retracement level of the down leg from [..]

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