Technical Analysis – EURCHF aims for a rebound as bearish trend jitters strengthen

Posted on July 21, 2021 at 6:51 am GMT

EURCHF paused again around the bottom of the four-month-old descending channel following the slump below the long-term supportive trendline and the dip towards a five-month low of 1.0789. The ongoing consolidation could precede another upside reversal and the positive charge in the RSI and the Stochastics, which are deviating above their oversold levels, is endorsing that bullish scenario. The bearish part of the story, however, is that the plunge below the trendline and the progressing negative cross between the 20- [..]


Technical Analysis – EURCHF bounces around 1.08 but downside risks persist

Posted on July 14, 2021 at 7:25 am GMT

EURCHF is overstepping the July 8 low of 1.0824 (previous support-now-resistance) after buyers found their feet around the 1.0800 handle. Nevertheless, the diving simple moving averages (SMAs) and the recently completed bearish crossovers of the 200-period SMA by the 50- and 100-period SMAs are reinforcing the declining price formation. The Ichimoku lines are suggesting a temporary pause in downward forces with the recent price bounce off the near five-month low of 1.0798. The short-term oscillators are transmitting conflicting signals in [..]


Technical Analysis – EURCHF obeys channel borders; 200-MA caps headways

Posted on July 6, 2021 at 8:35 am GMT

EURCHF advances are currently being muted by the 100- and 200-period simple moving averages (SMAs). The pair’s recent deflection off the upper band of the bearish channel and subsequent plunge below the SMAs and the Ichimoku cloud has reinforced a weakening demeanour. The SMAs are largely directing sideways; however, the minor dip in the 50-period SMA, is suggesting a prevailing preference to the downside. The Ichimoku lines are reflecting a pause in negative forces, while the short-term oscillators are indicating [..]


Technical Analysis – EURCHF eases slightly but positive drive intact

Posted on June 23, 2021 at 4:08 pm GMT

EURCHF is struggling to reach the upper boundary of the bearish channel as the 1.0963-1.0978 resistance section is impeding price gains. Positive momentum has yet to fully evaporate as the price is holding above the simple moving averages (SMAs). The rising 50-period SMA is looking set on completing a bullish crossover of the 100-period SMA, which would be a boosting dose to near-term price action. Additionally, the Ichimoku lines have yet to signal serious waning in positive impetus. However, the [..]


US Open Note – Dollar charts best week of 2021; stocks, commodities under pressure

Posted on June 18, 2021 at 1:18 pm GMT

Dollar keeps FOMC power  The US dollar, the world’s reserve currency, is heading for its best weekly trade in nine months buoyed by the FOMC’s hawkish turn, which bolstered the outlook for the US economy and put European currencies and commodities on the back seat. US stocks fall but tech sector holds resilient Global stock indices also retreated in fear of higher interest rates for US businesses in the next few years and on concerns other central banks could also [..]


SNB meeting: Let everyone else normalize – Forex News Preview

Posted on June 16, 2021 at 2:42 pm GMT

The Swiss National Bank will wrap up its meeting at 07:30 GMT Thursday. It will most probably keep rates at the lowest level globally and stress that it will continue to intervene in the FX market, as the franc has started to regain ground. Looking ahead though, it’s difficult to be positive about the franc in an environment where foreign central banks start withdrawing liquidity but the SNB doesn’t. Return of inflation The Swiss economy escaped from deflation lately, but [..]


Technical Analysis – EURCHF’s upward attempt may be short-lived

Posted on June 15, 2021 at 12:44 pm GMT

EURCHF is challenging the 20-period simple moving average (SMA) once again, providing some positive signals. The RSI is trying to overcome the neutral threshold of 50; however, the stochastic is heading north following the bearish crossover within the %K and %D lines in the short-term. If the bulls continue to buy the pair, the 40-period SMA, which coincides with the 1.0908 barrier ahead of the 23.6% Fibonacci retracement level of the falling wave from 1.1075 to 1.0870 at 1.0919, might provide [..]

Week Ahead – Fed to steer away from taper signals

Posted on June 11, 2021 at 10:33 am GMT

It’s a busy summer week, with three central bank meetings and a ton of crucial data. The spotlight will be on the Fed, which is unlikely to signal that it’s considering an exit strategy from cheap money. That’s the ultimate path, but it’s too early. Any real dollar strength is a story for late summer. Meanwhile, policy meetings in Japan and Switzerland could confirm that those economies will be the last to raise rates again, leaving the yen and franc [..]


Technical Analysis – EURCHF plummets to new 3½-month trough

Posted on June 8, 2021 at 1:05 pm GMT

EURCHF is tumbling to a fresh three-and-a-half-month low of 1.0910 today, supporting the negative outlook in the near term. The RSI is flirting with the 30 level, while the stochastic is entering the oversold territory. The 20- and 40-period simple moving averages (SMAs) completed a bearish crossover, confirming the recent dive. In case of steeper declines the door could open for the 1.0890 support, registered in December 2020, while if the bears continue to sell the pair, the 1.0867 barrier, [..]


Technical Analysis – EURCHF oversteps 200-MA and heads for ceiling of consolidation

Posted on May 31, 2021 at 3:28 pm GMT

EURCHF is currently trying to extend beyond the 200-period simple moving average (SMA) following its latest bounce within the support section of 1.0915-1.0931. The negative slopes of the SMAs have somewhat calmed, which is endorsing the ranging market mood. Although the Ichimoku lines have been recently unclear of direction, they are now reflecting a pickup in positive momentum. The short-term oscillators are also reflecting growing bullish sentiment. The MACD is strengthening above its red trigger line, while the RSI is [..]

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