|Day's range||0.993 - 0.996|
|52-week range||0.9189 - 1.0127|
Having failed to sustain 100-day SMA breakout, the EURUSD now rests around 50-day SMA level of 1.1380, breaking which nine-week old support-line, at 1.1320, and the 1.1260 can reappear on the chart. In case prices continue declining under 1.1260, the 1.1215 and the 61.8% FE level of 1.1080 may gain sellers’ attention. Meanwhile, the 1.1475 comprising 100-day SMA, followed by the 1.1550 & the 1.1570 could confine the pair’s near-term advances prior to challenging the 1.1610-25 region including 200-day SMA. If at all the pair manage to provide a daily closing beyond 1.1625, the ...
In spite of dropping to the lowest levels in fifteen-weeks’ time, the USDCHF still bounced off the eleven-month long ascending support-line, at 0.9710, which together with near oversold RSI signal brighter chances of the pair’s pullback moves to 0.9790 & 0.9840 immediate resistances. Should the pair manage to conquer 0.9840 barrier, the 200-day SMA level of 0.9885, the 0.9915 trend-line resistance and the 0.9950, including 50-day SMA, can entertain the buyers. In case prices close beneath 0.9710, also dip under 0.9700 round-figure, on a D1 basis, the 0.9680, the 0. ...
Today, we will show You three very promising setups with the CHF, which yesterday got super strong but finishes this week on the back foot. First setup is on the USDCHF. Next one is the EURCHF, where the price is creating a hammer on the weekly chart.
Following its U-turn from 1.1490-1.1500 resistance-region, EURUSD bounced off the seven-week long ascending support-line, near 1.1295, which in-turn signal brighter chances for the 1.1400 and the 1.1420 to reappear on the chart. However, 100-day SMA level of 1.1480 and the 1.1490-1.1500 could confine the pair’s upside past-1.1420, if not then the 1.1560, the 1.1610 and the 1.1660, including 200-day SMA, might flash on Buyers’ radar to target. If at all the pair fails to sustain recent move and registers a daily closing under 1.1295, it’s drop to 1.1260 and 1. ...
The U.S. Dollar fell to its lowest level against a basket of currencies since November 20 on Monday, putting the index in a position to continue to retreat early in the new year. The index has been under pressure since December 14 when the Fed announced it was reducing the number of potential rate hikes in 2019 from 3 down to 2.
Investors took shelter in the Yen despite soft domestic data, a decline in benchmark Japanese bond yields and dovish remarks from the Bank of Japan. Money also flowed into the Swiss Franc which suggests investors were taking some insurance against extended volatility in the stock market.
A fortnight old ascending trend-line presently challenges EURUSD sellers around 1.1380, which if broken can quickly drag the quote to 1.1330 and then the 1.1300 but the 1.1270-65 horizontal-line could confine the pair’s following downside. In case the pair continue trading southwards past-1.1265, the 1.1215 and the 1.1200 may flash on the chart. Alternatively, the 1.1425 and the 1.1445-50 might restrict the pair’s near-term advances prior to highlighting the 1.1480-1.1500 resistance-region, comprising 100-day SMA on D1. If at all buyers conquer 1.1500 mark, the 1.1550, the 1. ...
Multiple failures to rise past the 1.0000-1.0005 region highlights the importance of short-term ascending trend-line, at 0.9900, for USDCHF traders, which if broken can quickly drag the pair to 0.9880 and then to the 0.9860 supports. However, 61.8% FE level of 0.9825 and the 0.9800 round-figure may restrict the pair’s further declines. On the upside, the 0.9960 and the 0.9985 could serve as immediate resistances for the pair before diverting market attention to 1.0000-1.0005 area for one more time. Assuming the pair’s ability to cross 1.0005 mark, the 1.0050, the 1.0080 and the 1. ...
Today, in the EU markets’ focus is the ECB meeting, which often causes strong volatility. Mario Draghi is expected to confirm that the Central Bank will finally stop buying assets by the end of this year.
Considering a month long symmetrical triangle formation on EURUSD chart, the pair is less likely to register much momentum till it trades within the present range of 1.1305 and the 1.1435. Though, comparative strength of the US Dollar favor brighter chances of the pair’s decline than the otherwise, which in-turn highlights the importance of 1.1260 and the 1.1215 supports after 1.1305 break. In case prices continue drowning past-1.1215, the 1.1110 & 1.1080 may become Bears’ favorites. Meanwhile, an upside break of 1.1435 can trigger the pair’s rise to 1. ...
With nearly 100-pip range between 1.0010-05 and 0.9920-15 aptly limiting the USDCHF moves, the pair is presently expected to revisit the 0.9950 rest-point ahead of testing the 0.9915 range-support for one more time. However, pair’s drop beneath the 0.9915 can quickly fetch it to 0.9885 and the 0.9860 marks ahead of highlighting the 0.9845 as a support. Meanwhile, an upside clearance of 1.0010 could propel the quote to 1.0050 and then to the 1.0080 resistances whereas pair’s successful trading beyond 1.0080 enables it to aim for 1.0100 and the 1.0130 numbers to north.EUR/CHF
Weekly closing beyond 1.0045 wasn’t enough for the USDCHF to register its strength as 1.0105-15 horizontal-region still stands tall to challenge the buyers, which if broken can escalate the pair’s rise to 1.0170 and the 1.0215 prior to highlighting the 1.0250 upside barrier. Given the successful price rally above 1.0250, the 1.0340 and the 61.8% FE level of 1.0550 may gain market attention. Alternatively, a W1 close beneath the 1.0045 could recall the 0.9980 and the 0.9900 as on the chart. During the pair’s extended downturn below 0.9900, the 0. ...
Recent price action in the U.S. dollar is showing another attempt to make a clear break above parity against the Swiss franc. On several occasions, traders bullish on the USD/CHF have failed in their attempts to move into these areas. Since last November, this is the fourth time the USD/CHF currency pair has tried to overcome these resistance levels. But most of the evidence suggests that this most recent attempt could be stronger in terms of its directional influence on the longer-term timeframes. All of this prior activity has created a triple-top formation on the daily charts, and so a clear break higher from current levels would mark a highly bullish event for those long USD/CHF.
In this piece, we will describe the situation on the EURCHF, where a week ago, we were waiting for the buy signal. Usually, you need to wait for the proper signal. The price broke the lower line of the flag and the short-term horizontal support.
During the first part of the day, we could experience a significant weakness of the Greenback and the second half of the day, brought us a proper rise in the value of the American currency. Thanks to this, DXY, Dollar Index is giving us a sweet buy signal. A similar setup can be seen on the USDCHF chart, where the price created the Head and Shoulders pattern.
Generally speaking, October for the EUR was pretty bad. We are not talking here only about the main pair (with the USD) but about the broad market. The fortune may be changing though. The pair, where we can see the ray of light is the EURCHF.EURCHF Daily Chart
Early-month risk-on moves recently helped the AUD to recover some of its latest losses and AUDUSD is no exception to this as it crossed 0.7145-40 region; however, the pair needs to sustain the breakout in order to aim for 0.7200 and the 0.7235-40 resistance-area. Given the quote continue rising past-0.7240, the 0.7260 & 0.7300 are likely following numbers to appear on the Bulls’ radar to target. If at all prices fail to hold their strength and slide beneath 0.7140, the 0.7120 & 0.7100 can come-back on the chart. Assuming the pair’s extended downturn below 0.7100, the 0. ...
In order to understand the risks presented by the Italian economy, it is important to recognize why the situation in 2018 is so familiar to what we witnessed in 2011. Can Italy be the next Greece?
Failure to cross 100-day SMA seems fetching the EURUSD towards 1.1300-1.1285 support-zone, which if broken highlights the importance of 1.1210 rest-point. In case the pair continue trading southwards past-1.1210, the 1.1180 and the 1.1100 are likely following numbers to appear on the chart. Alternatively, the 1.1430, the 1.1500 and the 1.1530 may keep restricting the pair’s near-term upside, breaking which 100-day SMA level of 1.1600 can please the buyers. Assuming the pair’s D1 close beyond 1.1600, the 1.1655-60 and the 1.1750 could play their roles of resistances.GBP/USD
The 1.6 PCE reading puts inflation back below the Fed’s 2-percent goal which means it may alter its plans to raise rates in December or as many as three times in 2019. Some analysts are saying the Fed rate hikes may become more gradual. Instead of raising rates once a quarter, it may now decide to raise rates once every three meeting.
U.S.-China trade relations remain the focus for traders. Things heated up somewhat on Monday when a Chinese official told American Investors at a meeting that Beijing did not “fear” a trade war with Washington.
Adding to the dollar’s weakness was the consolidation of Treasury yields. After yields surged to multi-year highs last week, the rise in yields has subsided, reducing demand for the dollar. Gold improved on Tuesday, but the market posted an inside move, which typically indicates investor indecision and impending volatility. Traders said the gains were related to short-covering. New longs appeared to be scarce since the rally in the equity markets forced them to re-evaluate their reasons for being long. U.S. West Texas Intermediate and international-benchmark Brent crude oil futures settled higher on Tuesday after the American Petroleum Institute reported a surprise crude oil draw.