USDCHF

Technical Analysis – USDCHF’s gains struggle within a sideways structure

Posted on May 7, 2020 at 10:09 am GMT

USDCHF is currently tackling the 0.9767 high after finding some footing at the 0.9730 level, that being the 23.6% Fibonacci retracement of the up leg from the 56½-month low of 0.9182 to the three-month high of 0.9900, and the red Tenkan-sen line. Although the mostly flat and converging simple moving averages (SMAs) around 0.9700 continue to reflect the range-bound market that commenced around early April, the rising Ichimoku lines back the improvement from 0.9588. The short-term oscillators partly endorse advances [..]

Technical Analysis – USDCHF maintains a horizontal bearing as momentum fades

Posted on April 22, 2020 at 12:33 pm GMT

USDCHF has been mainly flat for the last two weeks confined within the 0.9742 and 0.9590 boundaries. Confirming the mostly directionless market are the 50- and 100-period simple moving averages’ (SMAs) uncertain signals and the sideways demeanour of the 200-period SMA. The short-term oscillators, although tilting marginally negative, suggest that directional momentum has dried up. The MACD is slightly above the zero mark but below its red trigger line, while the RSI has just dipped below the 50 mark. Moreover, [..]

Daily Market Comment – Virus drug hopes, Trump reopening plan fuel optimism; dollar holds firm

Posted on April 17, 2020 at 8:28 am GMT

Risk appetite returns on promising coronavirus drug and hope of shutdowns ending soon Stocks re-energized, gold dips but dollar resilient China reports first ever drop in GDP, but markets stay positive Trump wants to reopen economy, markets like it The mid-week souring in risk sentiment is seeing a turnaround as optimism for a way out of this virus crisis returns to the markets. After a series of data showing a collapse in key US economic indicators, ranging from retail sales [..]

Technical Analysis – USDCHF triangle formation intact; Ichimoku acts as resistance

Posted on April 16, 2020 at 9:31 am GMT

USDCHF is on a sideways move within a symmetrical triangle over the last month, pausing the strong upside tendency that started after the pullback off the 0.9185 support. Currently, the price is testing the 40-period simple moving average (SMA) and the lower surface of the Ichimoku cloud in the 4-hour chart. From a technical viewpoint, the RSI is flirting with the neutral threshold of 50, while the MACD jumped above the trigger line but is still developing with weak momentum. [..]

Daily Market Comment – Stocks edge up as earnings get underway amid stabilizing virus cases

Posted on April 14, 2020 at 8:24 am GMT

Stocks head higher as easing virus outbreak lifts mood But risk of over-optimism as US earnings poised to unveil virus hit Pound and aussie extend gains as dollar retreats Is the global pandemic peaking? Cautious optimism that the global pandemic of the coronavirus may have started to peak pulled global equities higher on Tuesday just as traders are about to find out what the impact of the outbreak was on corporate earnings. Stocks in Asia ended the day between 1-3% [..]

Technical Analysis – USDCHF turns slightly bullish in short term after dramatic slump

Posted on April 8, 2020 at 10:08 am GMT

USDCHF found some footing at the 0.9500 handle on March 30, extending its bullish action towards the 0.9800 key level. Also, earlier today, the pair touched the 20-day simple moving average (SMA) at 0.9680 and turned higher again. In the short-term, the market could retain the slightly bullish trading as the RSI holds marginally above its 50 neutral mark and the MACD remains above zero and close to its red trigger line. The upside move could stay in place given [..]

Technical Analysis – USDCHF’s appreciation finds some footing from supportive trend line

Posted on April 2, 2020 at 2:31 pm GMT

USDCHF appears to be breaking above the upper Bollinger band and the inside swing low of March 24 at 0.9717, after the climb from the 0.9500 trough was aided by the very short-term supportive trend line, just above the 0.9647 low. The short-term oscillators reflect a pickup in positive momentum as the RSI is improving above its neutral mark and the MACD, above its red trigger line, ascends over the zero level. Moreover, the stochastic oscillator has reclaimed the 80 [..]

Technical Analysis – USDCHF turns increasingly negative as the latest low is breached

Posted on March 26, 2020 at 1:12 pm GMT

USDCHF is extending its downside correction off the 0.9900 peak past the fresh low of 0.9717 and into the Ichimoku cloud slightly underneath. Aiding this move is the recent bearish crossover within the declining Ichimoku lines and the strengthening negative demeanour in the short-term oscillators. The MACD is descending under its red trigger line and has slipped below the zero mark, while the RSI is weakening in the bearish region. Moreover, the stochastic lines are sinking in the oversold territory, [..]

Daily Market Comment – Stocks slammed as Congress plays politics

Posted on March 23, 2020 at 10:51 am GMT

Global markets tank again amid a cascade of worrying virus developments US fiscal package stuck in the Senate, igniting fears of a severe delay Yen leads FX market, kiwi sags as RBNZ launches QE, dollar resilient Wall Street futures in the red as Congress dithers and delays Financial markets remain in a state of panic, with world stocks tanking on Monday to extend heavy losses from Friday, as a worsening pandemic and mounting national lockdowns leave traders no choice but [..]

Technical Analysis – USDCHF finds difficulty to accelerate towards today’s peak

Posted on March 19, 2020 at 1:52 pm GMT

USDCHF’s attempts to continue its ascent – despite reaching a new one-month high of 0.9815 – breached but failed to close above the inside swing high of 0.9750 and the 0.9778 and 0.9815 obstacles. The enduring positive move which has nearly recouped all the losses from the 0.9848 peak seems to be backed by the rising Ichimoku lines as well as the increasing bullish momentum reflected in the short-term oscillators. The MACD, in the positive region, continues to increase above [..]

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