Technical Analysis – USDCHF points up in descending channel

Posted on October 29, 2020 at 1:12 pm GMT

USDCHF started a positive day after it found several times support at the 23.6% Fibonacci retracement level of the down leg from 0.9295 to 0.9029 at 0.9092 over the last days. The RSI indicator is pointing upwards in the positive area, while the MACD oscillator is extending its move above its trigger and zero lines. Additional gains above the 0.9110 resistance could meet the 38.2% Fibonacci of 0.9130 before hitting the 50.0% Fibonacci of 0.9164. More increases could take the [..]


Technical Analysis – USDCHF rebounds off 7-week low; negative in medium term

Posted on October 22, 2020 at 12:54 pm GMT

USDCHF has reversed from the seven-week low of 0.9029 after the strong bearish move since September 25. Further backing this short-term view are the Ichimoku lines and the upward slopes on the MACD oscillator which holds above its trigger line in the negative zone. However, for now the RSI and the 20- and 40-period simple moving averages (SMAs) are reflecting contradicting signals as all of them are pointing downwards. If buying interest picks up, early tough resistance could occur at [..]

Daily Market Comment – Stimulus deal moves closer; stocks cheer but dollar sags

Posted on October 21, 2020 at 8:58 am GMT

Talks continue on virus relief bill as Trump backs large stimulus Stocks rise but gains contained amid doubts about Republican support Dollar slumps to one-month low as euro soars, gold catches a bid too Markets anxiously await a stimulus deal Growing optimism that a bipartisan deal on a new coronavirus aid package in the United States is within reach lifted equities on Wednesday while investors dumped the safe-haven US dollar. Talks between House Speaker Nancy Pelosi and Treasury Secretary Steven [..]


Technical Analysis – USDCHF pulls back from 23.6% Fibo; retains bearish view

Posted on October 15, 2020 at 8:13 am GMT

USDCHF held in loses for the fourth week in a row, dropping below the 23.6% Fibonacci retracement level of the down leg from 0.9295 to 0.9084 at 0.9135. The RSI in the four-hour chart continues to miss direction around the 50 level, while the red Tenkan-sen jumped above the blue Kijun-sen line, increasing chances for a meaningful recovery in the short-term trading. Also, the stochastic oscillator completed a bullish crossover within the %K and %D lines above the 20 level. However, should the price [..]


Technical Analysis – USDCHF moves horizontally after strong fall around 0.93

Posted on October 8, 2020 at 9:47 am GMT

USDCHF has been moving sideways since the soft rebound off the 0.9132 support level earlier this month but is still unable to recover the losses made at the end of September. In the short-term, the market could shift to the upside if the RSI surpasses the 50 level and the stochastic continues the upside move after it completed a bullish crossover within the %K and %D lines. An extension to the upside and above the 0.9185 resistance and the 40-period [..]

Daily Market Comment – Markets tank as Trump tests positive for covid, nonfarm payrolls coming up

Posted on October 2, 2020 at 8:01 am GMT

Equities sink, dollar jumps as President Trump gets coronavirus How does this affect election dynamics? Is Biden bad for markets? Sterling trades like a pinball machine amid conflicting Brexit headlines US jobs report is the main event today, European inflation data too Trump throws markets into disarray Global markets are tanking on Friday after US President Trump confirmed he has tested positive for covid-19, injecting another dose of uncertainty into election dynamics. Wall Street futures were already flashing red because [..]

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%. [..]

Technical Analysis – USDCHF rises to 2-month high; still bearish in medium term

Posted on September 24, 2020 at 7:23 am GMT

USDCHF held its rally for the fourth day in a row, climbing to a fresh two-month high of 0.9244. The RSI in the daily chart continues to head higher near the overbought territory, while the MACD is stretching its upward movement above the zero level. Also, the 20- and 40-day simple moving averages (SMAs) are creating a bullish crossover, suggesting more upside movements. Should the price close comfortably above the Ichimoku cloud, it could add more positive momentum to the pair, pushing the market up to the 38.2% Fibonacci [..]


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

Posted on September 22, 2020 at 3:19 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 12:53 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 [..]

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