USD/CHF: 1-hour
Higher price lows and lower stochastic lows… Why, that’s a bullish divergence right there! USD/CHF might bounce from the middle of the ascending channel on its 1-hour forex chart and head back to the top near the .9700 major psychological resistance if this divergence plays out. Price also seems to be drawing support from the 100 SMA, which is currently above the 200 SMA and indicating that the uptrend is likely to stay intact. If dollar bulls aren’t quite ready to charge yet, the pair could still retreat to the 200 SMA support or the bottom of the channel near the .9500 major psychological level before resuming its climb. If you’re really bullish on this one, you might wanna consider scaling in.
Recommended Content
Editors’ Picks
EUR/USD turns negative near 1.0760
The sudden bout of strength in the Greenback sponsored the resurgence of the selling pressure in the risk complex, dragging EUR/USD to the area of daily lows near 1.0760.
GBP/USD comes under pressure and challenges 1.2500
GBP/USD now rapidly loses momentum and gives away initial gains, returning to the 1.2500 region on the back of the strong comeback of the US Dollar.
Gold retreats from highs on stronger Dollar, yields
XAU/USD trims part of its initial advance in response to the jump in the Dollar's buying interest and the re-emergence of the upside pressure in US yields.
XRP tests support at $0.50 as Ripple joins alliance to work on blockchain recovery
XRP trades around $0.5174 early on Friday, wiping out gains from earlier in the week, as Ripple announced it has joined an alliance to support digital asset recovery alongside Hedera and the Algorand Foundation.
Week ahead – US inflation numbers to shake Fed rate cut bets
Fed rate-cut speculators rest hopes on US inflation data. After dovish BoE, pound traders turn to UK job numbers. Will a strong labor market convince the RBA to hike? More Chinese data on tap amid signs of slow Q2 start.