Technical Analysis – EURCHF confined in a narrow range; still negative in medium-term

Posted on September 25, 2019 at 3:16 pm GMT

EURCHF remains in a medium-term downtrend, with the price structure on the daily chart consisting of lower peaks and lower troughs below both the 50- and 200-day simple moving averages (SMAs). That said, the near-term picture is neutral, with the pair trading within a narrow range between 1.1020 and 1.0810 since early August. Momentum oscillators paint a relatively negative picture, suggesting that the lower bound of this range may be tested soon. The RSI is already below 50 and pointing [..]

Daily Market Comment – Trump impeachment risk scares stocks; UK Parliament returns

Posted on September 25, 2019 at 8:09 am GMT

Trump impeachment probe dampens sentiment, but is the market overreacting?   Pound cheers Supreme Court ruling, but retreats on Corbyn’s remarks RBNZ holds its fire, kiwi briefly spikes higher Risk aversion engulfs markets as Trump faces impeachment enquiry Sentiment in financial markets turned sour on Tuesday, as a double whammy of trade and political risks blindsided investors, triggering a rotation away from riskier assets like equities and towards defensive ones such as the yen and Swiss franc. The initial catalyst [..]

Daily Market Comment – UK Supreme Court decision eyed ahead of RBNZ meeting

Posted on September 24, 2019 at 8:01 am GMT

UK Supreme Court rules at 09:30 GMT whether Parliament’s suspension was lawful – upside risk for sterling? RBNZ rate decision due early on Wednesday; kiwi may briefly spike higher US stocks recover after upbeat manufacturing PMI, but safe havens tell another story UK Supreme Court to rule on Johnson’s suspension of Parliament It will be an eventful day in Britain, as the nation’s Supreme Court will decide whether Boris Johnson’s choice to suspend Parliament for five weeks was lawful, or [..]


Technical Analysis – EURCHF still in a downtrend, but shows early reversal signs

Posted on September 19, 2019 at 8:27 am GMT

EURCHF bulls briefly overcame the formidable 1.0970 zone, which is the 23.6% Fibonacci retracement level of the down leg from 1.1475 to 1.0810, although the bears seized back control and are currently challenging that level. In recent weeks, the pair has been in recovery-mode, reclaiming some of the losses it posted during a nineteen-week decline that commenced on April 23. The unfolding short-term positive outlook also seems to be backed by the 21- and 42-day simple moving averages (SMAs), as the [..]

SNB meeting: Too early to follow in Draghi’s footsteps? – Forex News Preview

Posted on September 18, 2019 at 11:08 am GMT

The Swiss National Bank (SNB) will announce its latest decision at 07:30 GMT on Thursday. For the first time in a long time, investors think this meeting is ‘live’ and assign a ~30% probability for a quarter-point rate cut. That said, the risks seem tilted towards the SNB keeping its rate powder dry for now and simply using FX intervention to prevent the franc from appreciating further, which may lift the Swiss currency on the decision. It is no secret [..]

Week Ahead – Central banks bonanza awaits: Fed might disappoint, BoJ could surprise, more Brexit blues for BoE

Posted on September 13, 2019 at 1:30 pm GMT

With the ECB meeting over, it’ll be the turn of other central banks to try and impress stimulus-hungry markets with no less than four major policy meetings still to come. The Bank of Japan, the Bank of England, the Swiss National Bank, and of course, the Federal Reserve will announce their decisions over the next seven days. Economic data will also make the headlines as Canada, Japan and the United Kingdom publish inflation stats, China releases industrial production and retail [..]


Technical Analysis – EURCHF’s buyers correct to the 23.6% Fibonacci level

Posted on September 10, 2019 at 12:50 pm GMT

EURCHF, after a four-month decline, had bulls emerge to propel the price upwards to the 1.0970 resistance looking for further gains. The level is the 23.6% Fibonacci retracement of the down move from 1.1475 to 1.0810, and where the 50-day simple moving average (SMA) currently lies. Failing to breach, the current stalling price at the 23.6% Fibo of 1.0970, coupled with the downward sloping SMAs, suggests that the rally higher may be off the table for now. Additionally, the MACD [..]


Technical Analysis – EURCHF’s steady decline seems to have one thing in focus: the gap of April 2017

Posted on August 12, 2019 at 12:51 pm GMT

EURCHF bears continued registering lower lows over the last three-months, through levels not seen for around two-years. The move down fell 31 pips shy of the June 2017 low of 1.0831. The pair corrected slightly, and the bears are now having another go at a push lower. The ADX is showing a very strong downwards trend in place, whereas the RSI has re-entered the oversold area, marginally pointing down and further indicating strength in the push southwards. The simple moving [..]


Technical Analysis – EURCHF creates fresh 2-year low; bears have the upper hand

Posted on July 24, 2019 at 12:59 pm GMT

EURCHF has been creating an aggressive downward rally over the last four days, posting a fresh two-year low around 1.0970. Also, the price has broken the long-term sideways channel, indicating sharper negative structure. The bearish move is confirmed by the technical indicators in the daily timeframe. The RSI is holding in the oversold territory and is pointing south, while the MACD is stretching its downside movement below trigger line. Should weakness extend below the two-year low, support to further declines [..]

Daily Market Comment – Euro area PMIs disappoint; Dollar powers through competition

Posted on July 24, 2019 at 8:10 am GMT

Euro area PMIs disappoint, raising bets for a dovish ECB tomorrow US dollar outperforms, without any clear catalyst Euro/franc falls below 1.10 – will the SNB intervene soon? Euro slips as disappointing PMIs fuel ECB bets Preliminary PMI data out of France and Germany for June have just been released, and were disappointing overall. While the service sector numbers were more or less in line with forecasts, the manufacturing figures fell substantially, with the French print touching the neutral 50 [..]

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