USDCHF

Technical Analysis – USDCHF fades further; negative formation prevails

Posted on August 27, 2020 at 12:39 pm GMT

USDCHF is currently restricted by a very short-term diagonal line, which is maintaining the price’s bearish tone within a confirmed broader negative pattern. Further aiding the moulded negative picture is the bearish bearing of the Ichimoku lines and the simple moving averages (SMAs). That said, the short-term oscillators are emitting conflicting signals in directional momentum. The MACD, in the negative region, is strengthening above its red signal line, while the RSI is improving in bearish territory. Nonetheless, the negative demeanour [..]

Technical Analysis – USDCHF tumbles after the pullback on the falling trend line

Posted on August 20, 2020 at 12:17 pm GMT

USDCHF pulled back on the two-week descending trend line around 0.9160 after the aggressive buying interest in the preceding sessions. The RSI rebounded on the 70 level, while the stochastic oscillator created a bearish crossover within its trigger and zero lines in the overbought region. Both are suggesting the continuation of the bearish sentiment. If the pair weakens, the 23.6% Fibonacci retracement level of the down leg from 0.9467 to 0.9008 at 0.9116 could provide immediate support ahead of the [..]

Technical Analysis – USDCHF stands in descending triangle near 0.9100

Posted on August 13, 2020 at 10:20 am GMT

USDCHF has been in a slightly descending movement since August 3 with strong support level at the 0.9050 barrier. Currently, the price is holding beneath the 20- and 40-period simple moving averages (SMAs) and the Ichimoku cloud, however, the technical indicators are suggesting a rebound. The RSI is pointing marginally up in the negative zone, while the stochastic is creating a bullish crossover in the oversold territory. A climb above the 23.6% Fibonacci retracement level of the down leg from [..]

Technical Analysis – USDCHF retains negative tone; positive momentum shows promise

Posted on August 6, 2020 at 5:10 am GMT

USDCHF continues to uphold a negative bearing below the declining simple moving averages (SMAs) and the Ichimoku cloud, in spite of its recent bounce near a 5½-year low of 0.9055. That said, looking at the short-term oscillators they reflect improvements in positive momentum. However, this could prove short lived as the predominant negative SMAs hold their course. The MACD, in the negative area, has slowed below its red trigger line, while the RSI ricocheted off the 30 level. Moreover, the [..]

Technical Analysis – USDCHF dives to 5 ½-year lows; brutal sell-off likely nears a bottom

Posted on July 31, 2020 at 6:33 am GMT

USDCHF is set to complete its sixth consecutive bearish week and close below the 0.9075 tough support area from May 2015, further confirming the break of a long-term range zone. The bias remains strongly negative as reflected by the downward-sloping simple moving averages (SMAs) and the weakening momentum indicators. However, hopes that the sell-off may soon lose steam are rising in the daily chart as the RSI is approaching a former base zone within oversold territory, while the MACD could [..]

Technical Analysis – USDCHF surrenders to bears; nearby support eyed

Posted on July 23, 2020 at 10:44 am GMT

USDCHF is bearishly exposed to the nearby 0.9258 support level after failing to crawl above the 61.8% Fibonacci retracement level of the March rally last week. The technical indicators are framing a discouraging picture for the short-term too, as the price is further deviating below the downward-sloping 20-day simple moving average (SMA) and the MACD is gaining negative momentum below its red signal line. The falling RSI, which is ready to cross below its 30 oversold mark is another negative [..]

Technical Analysis – USDCHF sustains a negative formation despite recent gains

Posted on July 16, 2020 at 1:05 pm GMT

USDCHF improved recently in an established negative structure and is tackling the 0.9457 level, that being the 61.8% Fibonacci retracement of the up leg from 0.9182 to 0.9900. Further backing the negative picture are the declining simple moving averages (SMAs). However, in spite of the prevailing negative charge within the Ichimoku lines, they reflect a stall in the descent, while the short-term oscillators signify strengthening positive sentiment. The MACD, in the negative region, has pushed above its red signal line, [..]

Technical Analysis – USDCHF driven by bears; next key support near 0.9320

Posted on July 9, 2020 at 7:39 am GMT

USDCHF resumed negative momentum this week after failing to climb above the 61.8% Fibonacci retracement level of the March rally that started from the 0.9181 bottom. On the downside there is no key support in sight until 0.9320, hence the sell-off may continue for a bit, with the RSI and the MACD endorsing that bearish view as the former has yet to find a bottom in the oversold area and the latter is strengthening southward again. A break below 0.9320 would expose the market to the 0.9255 [..]

Daily Market Comment – Gold soars on virus risks, softer dollar; US data awaited

Posted on July 1, 2020 at 8:41 am GMT

Gold extends bull run amid growing virus fears and US-China tensions; softer dollar helps too Stocks mostly positive as global recovery appears on track, but rally showing some signs of fatigue Markets await US ISM manufacturing and jobs data for direction Gold sets sights on $1800/oz as pandemic here to stay The safe-haven gold was scaling fresh 7½-year highs above $1785/oz on Wednesday even as investors maintained the view that the economic recovery from the pandemic will be a V-shaped [..]

Technical Analysis – USDCHF moves sideways, but negative trend still in play

Posted on July 1, 2020 at 7:04 am GMT

USDCHF has been consolidating in recent weeks, staying confined within a narrow sideways range between 0.9550 and 0.9420 since mid-June. Nonetheless, the broader price structure still consists of lower peaks and lower troughs, with the pair also trading below a downtrend line drawn from the peaks of March. Short term momentum oscillators are near their neutral levels, echoing the recent lack of direction. The RSI is just below 50 and seems to have flatlined, while the MACD is basically at [..]

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