USDCHF

Technical Analysis – USDCHF finds difficulty to accelerate towards the peak

Posted on March 19, 2020 at 1:32 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 of 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 [..]

Will the SNB use its rate weapon to fight the coronavirus? – Forex News Preview

Posted on March 18, 2020 at 12:35 pm GMT

The Swiss National Bank (SNB) has a scheduled meeting on Thursday at 08:30 GMT and is expected to unleash its own stimulus package in response to the rapid spread of COVID-19 in Europe that has so far affected more than 2,000 people in Switzerland. While a rate cut is almost fully priced in by the markets, the SNB like its European counterpart may choose a different path to boost the economy. Another rate cut would not make much of a difference Last week the [..]

Technical Analysis – USDCHF recoups today’s sell-off after downfall to almost 5-year low

Posted on March 9, 2020 at 1:56 pm GMT

USDCHF is recouping some of today’s losses after it plummeted to an almost five-year low of 0.9182. The price has turned its short-term bias from neutral to strongly negative after the downfall from the 0.9630 area. The RSI appears to be turning slightly to the upside in the oversold zone, however, the MACD is suggesting even more losses. The 23.6% Fibonacci retracement level of the downward movement from 1.0235 to 0.9182 at 0.9430 is the nearest resistance that could reject [..]

Technical Analysis – USDCHF may find some footing at 2-year lows; bearish in medium-term

Posted on March 6, 2020 at 8:25 am GMT

USDCHF fell aggressively on Thursday to two-year lows and near the 0.9430 crucial support region taken from the 2016-2017 period, approaching the 78.6% Fibonacci of the 0.9186-1.0234 upleg. Hence, since the RSI and the Stochastics are fluctuating well into the oversold area too, the odds for a rebound are increasing, shifting attention towards the 0.9575-0.9596 restrictive zone that includes the 61.8% Fibonacci. Higher, the bulls may retest the 0.9560 barrier before meeting the 50% Fibonacci of 0.9715, turning the bearish [..]

Daily Market Comment – RBA cuts rates, G7 response awaited as virus panic grows

Posted on March 3, 2020 at 9:34 am GMT

RBA cuts rates, others expected to follow as virus cases show no sign of slowing G7 statement eyed as markets pin hopes on stimulus to combat outbreak Stocks bounce back on stimulus talk but doubts on commitment caps gains Yen and gold edge up, dollar mixed ahead of Super Tuesday RBA first to cut, others to follow? The Reserve Bank of Australia became the first major central bank to cut interest rates on Tuesday in response to the worsening outbreak [..]

Technical Analysis – USDCHF flirts with 16-month low again; creates range in short-term

Posted on February 28, 2020 at 10:34 am GMT

USDCHF remains under pressure and the risk is to the downside as prices continue to drift lower from the 38.2% Fibonacci retracement level of the downward wave from 1.0235 to 0.9610 at 0.9850. The revisiting of the 16-month low of 0.9610, suggests the formation of a possible trading range if the price fails to post a lower low in the daily chart. Looking at momentum indicators, the RSI is heading south and is ready to flirt with the 30 territory, while the MACD has declined beneath the zero [..]

Daily Market Comment – Dollar retreats, stocks in freefall as virus engulfs markets

Posted on February 27, 2020 at 10:14 am GMT

Virus concerns intensify, pushing dollar lower amid mounting expectations for Fed rate cuts Stocks crater, and risk aversion may linger ahead of Chinese PMIs Euro the big winner, capitalizing on dollar’s retreat and defensive inflows Global carnage deepens as virus spreads Worries about the coronavirus continue to plague markets, as every passing day makes it clearer that this crisis won’t blow over soon, and the disruptions initially on supply chains and then on demand could be the ‘black swan’ that [..]

Daily Market Comment – Contagion fears intensify; stocks tumble, gold surges, dollar rebounds

Posted on February 24, 2020 at 9:38 am GMT

Jump in number of infections outside China sends panic across financial markets Stocks take a large hit; gold scales fresh 7-year high amid flight to safety Dollar’s gains more restrained as Fed rate cut bets rise after weak US data Concerns mount about virus impact after spike in global cases The number of confirmed coronavirus cases outside of China continued to multiply over the weekend, sending shivers across financial markets as investors were forced to reassess their view that the [..]

Technical Analysis – USDCHF shows improvement in Ichimoku cloud; stands near 2-month high

Posted on February 17, 2020 at 10:42 am GMT

USDCHF finally climbed above the strong support of 0.9760 that had been capping upside moves since late December and questions are rising now about whether the market can sustain the break in the coming sessions. The positive cross in the 20- and 40-day simple moving averages (SMAs) drove the market within the Ichimoku cloud, while the MACD oscillator is painting a rosy picture for the short-term timeframe as it runs comfortably above the trigger line. Also, the RSI indicator [..]

Technical Analysis – USDCHF tests the bearish grasp in short-term picture

Posted on February 13, 2020 at 9:12 am GMT

USDCHF’s bounce from the 0.9628 low has stalled around the 0.9769 level, which is the 38.2% Fibonacci retracement of the down leg from 1.0022 to 0.9612. However, as positive momentum appears to be improving with the bullish stance displayed in the red Tenkan-sen line, an advance into the Ichimoku cloud may unfold. The MACD continues to increase above its red trigger line and the zero mark, while the RSI hovers above the 50 level. That said, traders need to be [..]

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