USDCHF

Daily Market Comment – Yen up on trade deal pessimism; pound down on failed bid to block no-deal Brexit

Posted on June 13, 2019 at 8:11 am GMT

Major pairs struggle against the yen as the market mood sours on low hopes of a US-China trade deal US dollar also supported from risk-off despite softer-than-expected inflation data Pound gains then falls again as opposition MPs fail to get backing for legislation blocking a no-deal Brexit Safe havens back in demand Fading hopes that there could be a breakthrough in the stalled trade talks between the United States and China at the G20 summit weighed on market sentiment for [..]

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Technical Analysis – USDCHF could see further weakness; hovers above 10-week low

Posted on June 5, 2019 at 8:47 am GMT

USDCHF is extending its bearish rally over the last few days, breaking the long-term rising trend line to the downside. The pair tumbled to a new ten-week low around the 0.9900 handle and technical indicators are still suggesting losses in the market. The MACD is stretching its bearish momentum below the trigger and zero lines, while the RSI is flattening near the 30 level. The pair entered into bearish mode, edging towards the 50.0% Fibonacci retracement level of the upward [..]

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Technical Analysis – USDCHF still holds above rising trend line

Posted on May 29, 2019 at 1:23 pm GMT

USDCHF rebounded on the 1.0007 support level in the preceding week, remaining above the ascending trend line, which has been holding since September 2018. The stochastic oscillator has come off from the negative level indicating positive movements despite the bearish cross within the 20- and 40-day moving averages near the current market action. The pair entered the Ichimoku cloud but is moving lower today, edging towards the rising trend line and the 1.0007 barrier. Falling below the diagonal line, the risk [..]

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Technical Analysis – USDCHF rebounds on 1.0050; risks still to the upside

Posted on May 20, 2019 at 9:02 am GMT

USDCHF rebounded on the 1.0050 support level in the preceding week, jumping above the 23.6% Fibonacci retracement level of the upward movement from 0.9540 to 1.0235, around 1.0070. The RSI has come off from negative levels and the stochastic oscillator posted a bullish cross within its %K and %D lines in the oversold zone, pointing to some upside risks. However, the red Tenkan-sen line of the Ichimoku cloud is still sloping down despite the latest upside moves. If the pair gains [..]

European Open Preview – Yen and franc firm again as Trump bans Huawei, fuelling tensions with China

Posted on May 16, 2019 at 8:29 am GMT

Trump continues to up the pressure on China; imposes ban on telecom giant Huawei But some relief as US delays auto tariffs decision for now Dollar softer after unexpectedly weak data out of the United States Aussie worst performer as rise in Australian unemployment raises rate cut bets Fragile market mood as trade tensions remain elevated Markets were mostly in risk-off mood on Thursday as a combination of on-going trade frictions and disappointing economic data out of the world’s two [..]

European Open Preview – Stocks bounce back as Trump downplays China tensions but weak data weigh on aussie

Posted on May 15, 2019 at 8:16 am GMT

Trade worries continue to ease after Trump calls latest escalation “a little squabble” Equities attempt a rebound on the back of the improving risk appetite But aussie and yuan held back from disappointing Chinese data Risk appetite recovers on Trump’s “little squabble” comments The US president, Donald Trump, sought to play down the latest spat with China on Tuesday, telling reporters “We’re having a little squabble with China because we’ve been treated very unfairly for many, many decades”. Trump also [..]

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Technical Analysis – USDCHF consolidates but holds near 2-year highs

Posted on May 8, 2019 at 2:23 pm GMT

USDCHF is lacking near-term direction as the pair continues to consolidate after touching a two-year high of 1.0235 in April. The RSI has come off from overbought levels and the MACD histogram has crossed below its red signal line, pointing to some downside risks. However, the declines have been gradual and both indicators are looking steady, suggesting more sideways movement in the short term. If the pair drifts downwards, immediate support is likely to come from the 20-day moving average [..]

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Technical Analysis – USDCHF moves towards upper level of ascending triangle

Posted on April 18, 2019 at 9:21 am GMT

USDCHF is edging higher after the rebound on the 0.9890 support and the 23.6% Fibonacci retracement level of the upleg from 0.9185 to 1.0130, around 0.9900 and is moving towards the strong resistance obstacle of the ascending triangle, which has been holding since September 2018. The 20- and 40-day simple moving averages (SMAs) are ready for a bullish crossover, confirming the recent upward movement. Technically, the MACD oscillator is strengthening its momentum above the trigger and zero lines, however, the [..]

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Technical Analysis – USDCHF continues bullish action in short and long terms

Posted on April 9, 2019 at 11:45 am GMT

USDCHF is heading upwards after it posted a strong rebound on the 23.6% Fibonacci retracement level of the upleg from 0.9185 to 1.0130 around the 0.9900 psychological level. Technically, the red Tenkan-sen line is pointing north, indicating a bullish action, however, the RSI is moving near the neutral threshold of 50. Immediate resistance is coming from the 40-simple moving averages (SMA) currently around 1.0000, which is standing near the upper surface of the Ichimoku cloud. A jump above these lines could shift traders’ eyes at the 20-month [..]

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Technical Analysis – USDCHF rebounds on 0.99 level; neutral in medium term

Posted on March 28, 2019 at 12:15 pm GMT

USDCHF is advancing after it found a strong rebound on the 23.6% Fibonacci retracement level of the upleg from 0.9185 to 1.0130 around the 0.9900 psychological level. Technically, the red Tenkan-sen line is pointing downwards, indicating a bearish retracement, however, the RSI is moving towards the neutral threshold of 50. Also, the MACD oscillator is moving slightly higher in the negative territory in the daily timeframe. Immediate resistance is coming from the 20- and 40-simple moving averages (SMAs) currently around 1.0004, which are [..]

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