USDCHF

Technical Analysis – USDCHF tumbles near descending line around 0.8900

Posted on February 10, 2021 at 7:08 am GMT

USDCHF is retreating near the penetrated downtrend line, after finding strong resistance at the 0.9040 barrier. The strong selling interest is confirmed by the technical indicators. The RSI is plunging from the overbought zone to the neutral area, while the MACD is losing momentum in the positive territory. The 20- and 40-day simple moving averages and the Ichimoku lines are sloping downwards. Should the pair stretch south, the 40-day SMA at 0.8883 could provide immediate support before the pair touches the 0.8845 bottom. [..]

Technical Analysis – USDCHF aims to end falling trend; eyes on 0.9015

Posted on February 2, 2021 at 8:41 am GMT

USDCHF charted an inverse head and shoulder formation at the bottom of its sell-off, where a six-year low of 0.8756 has taken the form of a bullish doji in early January, signalling the end of the bearish phase. The case of a trend reversal further strengthened on Monday after the price closed clearly above the neckline of the structure at 0.8920. The RSI and the MACD are backing the bullish appetite in the market as well, with the former gaining [..]

Dollar remains overvalued; can America’s twin deficits still sink it? – Special Report

Posted on January 28, 2021 at 2:28 pm GMT

The US dollar ended a volatile 2020 down 6.5% against a basket of currencies, underlining the dramatic turnaround in risk appetite from the depths of the March virus crisis. That risk rally is showing no sign of abating anytime soon, driving bearish bets against the dollar to near-decade highs. Nevertheless, the dollar’s negative outlook is becoming increasingly murky as the US economy is poised to outperform its peers in 2021. In view of this, can America’s soaring current account and [..]

Technical Analysis – USDCHF fails to exit neutral zone

Posted on January 28, 2021 at 10:16 am GMT

USDCHF has been developing within a consolidation area over the last three weeks, hovering around the Ichimoku cloud lately. The short-term oscillators justify the current upside move in the market, with the RSI pointing upwards in the bullish territory, and the MACD extending its positive momentum above its trigger and zero lines. To the upside, the important resistance region around the upper boundary of the trading range at 0.8925 could prove difficult to overrun. Conquering this, the 0.8946 barrier, taken from the high on December 2020, could halt the climb towards [..]

Technical Analysis – USDCHF’s bullish pressures pause around vicinity of 200-MA

Posted on January 21, 2021 at 1:54 pm GMT

USDCHF has poked back underneath the 200- and 100-period simple moving averages (SMAs) at 0.8866 and 0.8857 respectively. Its recent attempts to decisively surpass the 200-period SMA have ended up consolidating the price around it, thus keeping hopes of the bear market alive. The flattening 100-period SMA and the falling 200-period SMA, as well as the slowing upward pace of the 50-period SMA, all as a whole, are endorsing the sideways move. The short-term oscillators, which are leaning towards the [..]

Technical Analysis – USDCHF remains negatively skewed despite slim progress

Posted on January 14, 2021 at 12:03 pm GMT

USDCHF seems to be capped by the upper Bollinger band around 0.8918 after the price faintly improved from the near 6-year bottom of 0.8757. Currently resting on the mid-Bollinger band, the pair is exhibiting a commanding bearish tone, something also conveyed within the falling simple moving averages (SMAs). However, the short-term oscillators are transmitting mixed signals of directional momentum. The MACD is promoting further advances in price as it is rising above its red trigger line in the bearish region, [..]

Technical Analysis – USDCHF’s improvement curbed by cloud and 100-period MA

Posted on January 7, 2021 at 2:53 pm GMT

USDCHF remains negatively skewed on the four-our chart as the 100-period simple moving averages (SMAs) and the Ichimoku cloud capped the pair’s recent bounce from a formed almost 6-year bottom of 0.8757. The Ichimoku lines have become fairly stagnant, promoting frailty in recent positive sentiment. However, the steadfast bearish SMAs continue to dampen the pair’s outlook. The short-term oscillators are suggesting that the fresh positive drive is losing momentum. The MACD is stalling its ascent above its red trigger line, [..]

Daily Market Comment – Fresh virus fears dampen New Year optimism, dollar catches a bid

Posted on January 5, 2021 at 9:52 am GMT

UK enters third lockdown, sparks panic as virus continues to rage around the world Pound tumbles, dollar reverses earlier declines, Wall Street slips from record highs Uncertainty about Georgia runoffs adds to soured mood No respite from the virus just yet As vaccine rollouts get off to a slow start, mass inoculation is becoming a race against time as there appears to be no letup in Covid-19’s ferocious spread. British Prime Minister Boris Johnson announced a new national lockdown for [..]

Daily Market Comment – Familiar start to new year as dollar slips, stocks climb

Posted on January 4, 2021 at 10:00 am GMT

Trading in 2021 gets off to an optimistic start despite spiralling pandemic Dollar heads back towards 2½-year lows, bullish case for equities not over But plenty that can go wrong as Georgia runoffs, Electoral College count pose risks Cheery start to 2021 as markets pin hopes on vaccines The first trading day of the new year began pretty much how 2020 ended as investors chose to shrug off the worrying virus headlines to instead focus on the vaccine rollouts and [..]

Technical Analysis – USDCHF sets a floor near fresh 6-year lows; bearish overall

Posted on December 30, 2020 at 1:03 pm GMT

USDCHF, capped by the 20-day simple moving average (SMA), inched down to a new six-year low of 0.8814 on Wednesday. While the recent negative correction resurfaced fears of a stronger downtrend, the 0.8824 support region, which acted as resistance back in January 2015, continues to hold firm, giving another opportunity for a rebound. The technical indicators are not in favor of bullish actions, but cannot exclude the case of an upside reversal either. The MACD, although stable, is still some [..]

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