Technical Analysis – EURCHF runs above SMAs but Ichimoku cloud acts as strong resistance

Posted on July 14, 2020 at 1:29 pm GMT

EURCHF staged a respectful bullish rally following the bounce off the 100-day simple moving average (SMA) around the 1.0595 support.  In the very short-term, the positive bias is confirmed by the momentum indicators. The RSI is climbing above the 50 level, while the MACD, having crossed above its trigger line in the negative region, is trying now to surpass the zero line. Should the price close comfortably above the lower surface of the Ichimoku cloud and the blue Kijun-sen line around the 1.0710 resistance, buyers could push towards 1.0767. Higher, [..]


Technical Analysis – EURCHF’s pullback adopts a sideways bearing

Posted on July 7, 2020 at 11:43 am GMT

EURCHF appears to be crawling sideways in the latest sessions, after the plunge from the 1.0914 high reversed ahead of the horizontal 100-day simple moving average (SMA), currently at 1.0606. The MACD and the RSI are not signalling any strong directional moves as they both hover slightly below their neutral marks. Additionally, the mostly flattened 100-and 200-day SMAs indicate the weakness in price in setting a stronger course for now. However, the rising 50-day SMA promotes some strength in the [..]


Technical Analysis – EURCHF hits a resistance wall, plunges below 200 MA

Posted on June 30, 2020 at 11:41 am GMT

EURCHF today encountered heavy resistance from the 100-period simple moving average (SMA) residing at the Ichimoku cloud’s upper band at 1.0700. As a result the price has retreated back below the 200-period SMA and has strengthened a short-term neutral-to-negative picture. The Ichimoku lines reflect the somewhat recent edging sideways in the price, while the short-term oscillators promote further declines. The stochastic oscillator is negatively charged after a bearish crossover by the %K line was completed out of the overbought region. [..]


Technical Analysis – EURCHF exhibits signs for continued consolidation

Posted on June 23, 2020 at 1:07 pm GMT

EURCHF has found a foothold at the 1.0635 level, that being the 23.6% Fibonacci retracement of the down leg from 1.1058 to 1.0504. The pair was unable to sustain the correction that extended above the 200-day simple moving average (SMA) and as such is currently demonstrating weak directional signals, something also reflected within the Ichimoku lines. Although the technical oscillators were unclear of direction lately, they now promote the recent improvement off the 1.0635 mark. The MACD, in the positive [..]


SNB set to disappoint trigger-happy investors – Forex News Preview

Posted on June 16, 2020 at 1:00 pm GMT

The Swiss National Bank (SNB) will conclude its policy meeting at 07:30 GMT Thursday, and strangely enough, markets are pricing a 50% chance for a small rate cut. While some more stimulus would make sense, the SNB only has one ‘rate bullet’ left in the chamber so it might prefer to save it for a rainier day, especially now that the upward pressure on the franc has eased. In case policymakers indeed keep their rate powder dry, the franc could [..]


Technical Analysis – EURCHF stuck under the 200-day SMA; may edge sideways

Posted on June 16, 2020 at 11:08 am GMT

EURCHF appears to have returned to a neutral stance, following the recent rallies pullback from the 1.0914 point back under the 200-day simple moving average (SMA). The Ichimoku lines and cloud sponsor consolidation in price, as does the flattened 100-day SMA. The MACD and the RSI reflect a stall in price action with weakened positive momentum. The MACD is falling below its red signal line in the positive zone, while the RSI hovers above the 50 threshold. Nevertheless, the bullish [..]

Week Ahead – BoE and Brexit could create perfect storm for pound; BoJ and SNB meet too

Posted on June 12, 2020 at 12:49 pm GMT

An upcoming summit of EU leaders could decide the fate of the European recovery fund and the direction of Brexit talks, setting up possible stumbling blocks for the euro’s and pound’s rebounds. The pound will also be keeping an eye on the Bank of England’s policy meeting, with more QE looking likely. The Bank of Japan’s and Swiss National Bank’s respective meetings are not expected to be as exciting. But as some of the recent optimism starts to fade, it [..]


Technical Analysis – EURCHF’s correction encounters obstructing 200-day SMA

Posted on June 2, 2020 at 1:56 pm GMT

EURCHF’s latest gains off of the 1.0575 mark have followed the upper Bollinger band until the 200-day simple moving average (SMA). Additionally, the momentum indicators reflect buyers’ efforts for further advances, despite the capping 200-day SMA at 1.0763. The short-term oscillators at the moment continue to reflect an improving picture with no signs of easing. The MACD, in the positive region, is increasing above its red signal line, while the rising RSI climbs into the overbought section. Moreover, the stochastic [..]


Technical Analysis – EURCHF maintains optimism drifting towards the Ichimoku cloud

Posted on May 26, 2020 at 2:08 pm GMT

EURCHF maintains a positive tone despite fading from the 1.0660 peak of May 18. The gradual upward gradient in the 100- and 200-period simple moving averages (SMAs) is currently backing the soar in price from the 57½-month low of 1.0504 to the 1.0660 high and is promoting advances. Moreover, the lower surface of the Ichimoku cloud and the rising 50-period SMA could provide footing to preserve an improving picture. The technical oscillators reflect mixed signals in directional momentum. Looking at the MACD [..]


Technical Analysis – EURCHF claims largest daily gain in more than a year; 1.0652 next in target

Posted on May 19, 2020 at 10:35 am GMT

EURCHF recorded its largest daily gain in more than a year on Monday after repeatedly failing to clear the tough 1.0500 bottom. On Tuesday the pair is attempting to claim a similar credit, but it first needs to remove the 1.0652 resistance and close above 1.0700 to confirm additional buying action. The momentum indicators are in favor of the bulls as the MACD is hovering within the positive area – barely though – for the first time since the end [..]

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