USDCHF

Technical Analysis – USDCHF surpasses 1.0000 critical level; remains above SMAs bullish cross

Posted on February 8, 2019 at 11:14 am GMT

USDCHF has moved considerably higher after the bounce off the 0.9715 support zone, which overlaps with the ascending trend line. The price returned back above the 1.0000 strong psychological level and seems promising for further bullish structure. Having a look at the momentum indicators, the RSI lies in the positive territory but is flattening, while the MACD oscillator climbed above the trigger line, indicating upside tendency. Moreover, the 20- and 40-simple moving averages (SMAs) recorded a bullish cross in the [..]

European Open Preview – US inflation data in the spotlight

Posted on January 11, 2019 at 9:16 am GMT

Dollar briefly inches up after Powell; US CPI data today will be crucial Swiss franc drops, with SNB likely behind the move US-China trade optimism boosts aussie and kiwi Brexit uncertainty lingers ahead of next week’s Parliamentary vote Powell helps dollar to rebound briefly, but mind the upcoming inflation data Fed Chair Powell mostly “stuck to the script” yesterday, reiterating the recent shift in the Fed’s reaction function. He said his central bank can afford to be patient with further [..]

Technical Analysis – USDCHF rebounds on uptrend line after reaching 4-month trough

Posted on January 10, 2019 at 2:01 pm GMT

USDCHF has moved considerably lower from the 20-month high of 1.0130, recording a new almost four-month low of 0.9715 earlier today and touching the long-term ascending trend line. The price retraced more than the 38.2% Fibonacci retracement level of 0.9770, taken from the downward movement from 0.9185 to 1.0130. Zooming to today’s intraday bullish move, the RSI is sloping marginally up in the negative zone, however, the MACD oscillator confirms the bearish structure as it holds below the trigger and zero lines. [..]

Technical Analysis – USDCHF looking bearish but supported at 50% Fibonacci

Posted on December 28, 2018 at 8:00 am GMT

USDCHF has retreated significantly from the 20-month peak of 1.0127 set on November 13, retracing almost 50% of its September to November gains. The slide has been halted for the moment by the 50% Fibonacci retracement level at 0.9834. Momentum indicators point to further downside risks but are not yet overly bearish. The RSI has fallen further below the 50-neutral level, but the slope has become shallower over the past day, suggesting further losses are likely to be limited in [..]

FX year ahead 2019: End of dollar dominance?

Posted on December 24, 2018 at 12:22 pm GMT

As 2018 draws to a close, the heavily sold currencies are set to end the year off their lows, while the US dollar – one of the biggest winners of 2018 – appears on track to start 2019 on a negative footing. While it’s too early to predict a new downtrend for the dollar, expectations that US interest rates are nearing their cycle peak could provide the greenback’s peers some much-needed relief. Yet, several risks remain – ranging from the [..]

SNB meeting: No hawkish bits yet – Forex News Preview

Posted on December 12, 2018 at 11:13 am GMT

The Swiss National Bank (SNB) is widely expected to keep its policy rates unchanged at record lows on Thursday, at 0830 GMT. Markets will look for signals on whether a rate increase in 2019 is on the cards, though considering the weakening momentum in recent Swiss data and the current level of the franc, they’re unlikely to find any. Consistently dovish guidance would argue for a weaker franc over time, barring an escalation of global risks. In stark contrast to [..]

Technical Analysis – USDCHF lacks clear direction movement in very short term

Posted on December 6, 2018 at 1:45 pm GMT

USDCHF has been struggling within a narrow range over the last couple of weeks in the very short term with upper band the 1.0000 level and lower band the 0.9910 support barrier. Additionally, the 20- and 40-simple moving averages (SMAs) are ready to post a bearish crossover, while the technical indicators are flattening. The short-term momentum turned to neutral as evident by the momentum indicators which are flattening. The RSI remains around 50 level and the MACD holds near zero line with weak movement. Immediate support [..]

Strategy update: The trade ‘truce’, the Fed’s possible pause and May’s Brexit woes

Posted on December 5, 2018 at 3:06 pm GMT

Markets unconvinced by Trump-Xi trade rapprochement The Fed could slow rate hikes Market braces for Brexit turbulence as May struggles to convince Parliament Markets unconvinced by Trump-Xi trade rapprochement A major theme for global markets and the global economy is the uncertainty caused by the frictions between the United States and China. It was therefore an initially positive piece of news that the two countries would restart a new round of negotiations that would last for 90 days, that China would pledge to import [..]

European Open Preview – Sterling unimpressed by EU’s Brexit deal approval

Posted on November 26, 2018 at 8:53 am GMT

Pound unimpressed by EU leaders approving Brexit deal, as UK Parliamentary endorsement still looks highly unlikely Euro drifts lower after soft PMIs heighten speculation for a cautious ECB; President Draghi’s remarks today will be watched closely Loonie unable to rally after decent data, as oil prices continue to plunge Dollar capitalizes on risk-off mood, looks to key Fed speakers for direction Pound little changed as EU leaders approve Brexit deal EU leaders approved the Brexit divorce deal over the weekend, [..]

European Open Preview – Dollar capitalizes on risk-off mood; euro eyes Italian budget saga

Posted on November 21, 2018 at 8:46 am GMT

Here are the latest developments in global markets: FOREX: The dollar index is slightly lower on Wednesday (-0.17%), giving back some of the significant gains it recorded in the previous session as investors sought the safety of the world’s reserve currency. The loonie was the biggest underperformer, weighed down by another plunge in oil prices. Meanwhile, the yen and the franc attracted inflows amid the broad-based risk aversion, though both are a little lower today, as sentiment seems to have turned [..]

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