Technical Analysis – USDCHF trend signals turn negative after double bearish crossovers

Posted on October 21, 2019 at 12:54 pm GMT

USDCHF tumbled near the key 0.9843 support level that strongly rejected downside corrections in late September. The double bearish crossovers marked by the 20- simple moving average (SMA) falling below the 50- and 200-day SMAs flag that the trend is likely to extend to the downside. Yet in the short-term, some consolidation cannot be ruled out as the RSI seems to be pushing efforts to deviate above its 30 oversold mark and the MACD looks to be turning upwards in the negative territory and [..]


Technical Analysis – USDCHF eyes 1.000 level for fresh direction

Posted on October 4, 2019 at 12:30 pm GMT

USDCHF managed to pierce the 1.0000 mark after four months before pulling back into the 0.9900 region, questioning the sustainability of the downtrend from the 1.0234 peak. The sideways move in the RSI and the MACD’s location reflect a neutral-to-positive bias for short-term trading. Should the bulls finish comfortably above the 1.0000 barrier, traders could speculate that the downward pattern from the 1.0234 peak has likely reached a bottom, with the price crawling next up to the 1.0097-1.0123 familiar resistance [..]

Daily Market Comment – Stocks crash as recession fears intensify

Posted on October 3, 2019 at 8:12 am GMT

Investors back on recession watch; all eyes on the ISM non-manufacturing PMI today Speculation for Fed rate cuts no longer supports stocks – paradigm shift? Sterling yawns as markets say Brexit proposal is not a needle-mover Equities dive, yen roars back as investors grapple with recession worries Wall Street recorded substantial losses on Wednesday, with the S&P 500 (-1.8%) falling sharply and Asian markets being a sea of red today, as traders continued to cut their risk exposure amid worries [..]


Technical Analysis – USDCHF uptrend stumbles at 200-day moving average

Posted on September 23, 2019 at 3:17 pm GMT

USDCHF has retreated from last week’s three-month top of 0.9983 after finding resistance at the 200-day moving average (MA), which has flatlined along the 50% Fibonacci retracement of the April-August downleg. Prices are currently being supported by the 20-day MA at 0.9890 but momentum indicators are pointing to further weakness in the near term. The stochastics are sloping steeply downwards, while the RSI is heading towards its 50 neutral level. If the bears remain in control, USDCHF is likely to [..]

Daily Market Comment – Pound jumps on Brexit deal hopes; dollar edges lower

Posted on September 20, 2019 at 8:29 am GMT

Pound surges on rising odds of a Brexit deal; Barnier-Barclay meeting eyed Dollar edges lower as other central banks hold steady, Treasuries slip Cautious optimism as US-China trade talks resume Oil spikes again after Saudi Arabia strikes Houthi targets in Yemen Pound continues to surge amid Brexit deal talk Hopes that the United Kingdom and the European Union may yet reach a deal on their divorce terms boosted the pound on Friday, taking the currency to 2½-month highs versus the [..]

Daily Market Comment – Markets unimpressed by Fed’s hawkish cut; aussie slips on weak jobs data

Posted on September 19, 2019 at 8:31 am GMT

Fed lowers rates as expected, signals may not cut again; BoJ stands pat, could move in October Dollar see-saws on Fed decision, stocks pare initial losses; BoE awaited Aussie and kiwi extend slide after data fuels rate cut expectations    Powell soothes market nerves as split vote casts doubt on rate outlook   There were no surprises from overnight decisions by the Federal Reserve and the Bank of Japan as the US central bank cut its benchmark rate by 25 [..]

Daily Market Comment – Risk assets recover as Brexit and trade worries ease

Posted on September 5, 2019 at 8:33 am GMT

Risk appetite returns as trade and geopolitical tensions subside overnight Pound bounces back as no-deal Brexit averted for now; elections could follow US and China agree to hold trade talks in October; global stocks surge Markets cheer ebb in trade and political tensions Traders were greeted with positive developments on all fronts on Thursday as the United States and China finally agreed on the basis for a new round of high-level talks, while the easing of political turmoil in Britain [..]

Technical Analysis – USDCHF bulls could become energized above Ichimoku cloud

Posted on August 30, 2019 at 7:27 am GMT

USDCHF inched up to test the 38.2% Fibonacci of the upleg from 1.0234 to 0.9658 after closing above the 50-day simple moving average (SMA) on Thursday. In momentum indicators, the RSI has entered bullish territory and is pointing up, while the MACD has further deviated above its red signal line and closer to zero. Both measures are therefore signalling a stronger bullish bias for the short-term. Nevertheless, traders could wait for a determined exit from the Ichimoku cloud, that blocked the [..]

Daily Market Comment – Markets in mayhem as US hits China with new tariffs

Posted on August 26, 2019 at 8:17 am GMT

Risk aversion back in play as Washington escalates trade war  But risk-off moves reverse on Monday after Trump calms spirits, for now US durable goods orders today eyed for signs of investment slowdown Yen soars, stocks crumble as trade war intensifies to a new level Trade fears continue to wreak havoc in global markets, with risk aversion making a sharp comeback on Friday after Washington and Beijing exchanged another round of retaliatory tariffs, escalating the trade war to a whole [..]


Technical Analysis – USDCHF may retrace rebound in short-term

Posted on August 20, 2019 at 10:19 am GMT

USDCHF rebounded from an 11-month low of 0.9658 last week to pierce the 20-day simple moving average (SMA) on Monday. Still, the momentum indicators suggest that the market may lose steam in the short-term as the RSI seems to be pulling back from its 50 neutral mark and the Stochastics are reversing lower in the overbought territory. On the way down, the bears could take a rest near the 0.9700 round-level before challenging the 0.9658 trough. If the decline continues, the downward pattern could [..]

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