Technical Analysis – EURCHF tumbles to 33-month low; rebound likely in short-term

Posted on January 21, 2020 at 8:36 am GMT

EURCHF paused its 21-month old downtrend near a 33-month low of 1.0726 on Monday. With the RSI and the Stochastics rebounding deep in the oversold area, the MACD stabilizing below its red signal line and the price deviating slightly above the lower Bollinger band, the odds for an upside correction seem to be elevated. A forceful rally above the September low of 1.0810 and the middle Bollinger band could generate additional buying interest, sending resistance probably near 1.0900 which the bulls [..]

Daily Market Comment – Phase One deal brings some cheer despite doubts; dollar drifts lower

Posted on January 16, 2020 at 9:21 am GMT

US and China finally sign ‘phase one’ trade deal; stocks head into record territory Details of deal fail to reassure sceptics about enforcement and target for Chinese purchases Focus to shift to data with US retail sales and Chinese Q4 GDP coming up Markets buoyed as Phase One deal clears final hurdle US President Donald Trump and Chinese Vice Premier Liu He put pen to paper to the long-awaited ‘Phase One’ deal on Wednesday, hoping to draw a line over [..]


Technical Analysis – EURCHF tumbles towards 33-month low; negative outlook at play

Posted on January 15, 2020 at 10:16 am GMT

EURCHF is holding to losses for the third week in a row, dropping to a 33-month low of 1.0758 earlier today. The sharp sell-off has driven the pair beneath the six-month trading range of 1.0810 – 1.1055, turning the outlook from neutral-to-bearish. In the very short-term, the market could maintain a downward move if the RSI keeps moving in the oversold zone and the MACD extends its momentum below the trigger line. Regarding the trend, the 20-day simple moving average (SMA) continues to lose [..]

Daily Market Comment – Markets turn cautious ahead of trade deal signing as Mnuchin dashes hopes of further tariff cuts

Posted on January 15, 2020 at 9:10 am GMT

Risk appetite eases as details of ‘phase one’ trade deal expected to reveal few surprises US Treasury Secretary Steven Mnuchin suggests no additional tariff rollbacks before ‘phase two’ Stocks slip into the red, yen and franc edge up Market mood dampened ahead of trade deal signing The highly anticipated signing of the ‘phase one’ trade pact between the United States and China will take centre stage later today but with the deal already fully priced in by investors, the event [..]


Technical Analysis – EURCHF bears face big challenge around 32-month low

Posted on January 13, 2020 at 1:42 pm GMT

EURCHF found some footing around the 32-month low of 1.0780 last week and returned inside the trading range from 1.0810 to 1.1055. The MACD seems to be losing momentum below its red trigger line, the RSI is still hovering around its 30 oversold mark and the red Tenkan-sen is sloping down as well, while the blue Kijun-sen is still flattening, all signaling a more cautious trading in the short-term. Should weakness extend below the 32-month low of 1.0780 mark, support to downside movements could be initially detected within [..]


Technical Analysis – EURCHF unlocks 4-month low; lacks clear direction in medium-term

Posted on January 3, 2020 at 9:53 am GMT

EURCHF has been moving sideways since the rebound on the 28-month low of 1.0810, reached on September 4. The upper boundary is the 1.1055 resistance level, near the 38.2% Fibonacci mark of the downleg from 1.1470 to 1.0810, and the lower boundary is the 1.0830 support level. In the very short-term, the market could maintain a downward move if the RSI keeps moving below 50 and the MACD extends its momentum below the trigger line. Regarding the trend, the 20-day simple moving average [..]

Daily Market Comment – Pound stumbles, franc and yen up as Johnson aims for hard Brexit

Posted on December 20, 2019 at 9:14 am GMT

Pound headed for large weekly loss as UK government pushes for speedy Brexit Hard Brexit fears support safe havens even as US and China move closer to signing trade deal US consumption and inflation data eyed before holiday lull Brexit moves closer to reality, unnerves markets UK Prime Minister Boris Johnson used his post-election Queen’s speech yesterday to unveil his Brexit agenda and reintroduce the Withdrawal Agreement bill to Parliament with some changes. The revised bill has all the indications [..]


Technical Analysis – EURCHF aims for 1.0965 to keep buying interest

Posted on December 4, 2019 at 11:40 am GMT

EURCHF came under sharp selling pressure after peaking at 1.1026 on Monday, with the price correcting below its simple moving averages and the Ichimoku cloud. The downfall has now stalled around 1.0930 as the RSI and the Stochastics recover from oversold conditions. The MACD has also started to turn higher, and if it continues to improve and cross above its red signal line, the market could extend its latest upside reversal. Still, a closing price comfortably above the 1.0965 barrier is what traders would potentially [..]

Daily Market Comment – Yen and gold creep higher on trade nerves; Fed minutes eyed

Posted on November 20, 2019 at 9:30 am GMT

Increased caution on US-China trade talks gives rise to safe-haven demand Hong Kong tensions cast cloud over trade progress as US Senate bill angers China Pound pressured after Johnson-Corbyn televised debate Mixed signals on trade talks put a lid on risk appetite Risk sentiment soured slightly on Wednesday as investors grew wary about the possibility of the United States and China striking a partial trade deal in the coming weeks. The renewed caution comes amid growing tensions between the two [..]

Technical Analysis – EURCHF may extend positive momentum in short-term

Posted on November 19, 2019 at 8:04 am GMT

EURCHF staged a spectacular rebound last week to surpass its shorter-term simple moving averages (SMAs) and enter the Ichimoku cloud in the four-hour chart. Buyers seem to have the upper hand as the MACD keeps extending positive momentum, the RSI is comfortably above its 50 neutral mark, and the triple exponential average (TRIX) is preparing to turn positive, all flagging positive prospects in the short-term. A decisive close above the cloud would convince traders that more gains may follow, especially [..]

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