DAILY USD/CHF TECHNICAL OUTLOOKLast Update At 04 Mar 2016 00:08GMT
Trend Daily Chart
Sideways
Daily Indicators
Turning up
21 HR EMA
0.9936
55 HR EMA
0.9955
Trend Hourly Chart
Near term down
Hourly Indicators
Rising fm o/s
13 HR RSI
44
14 HR DMI
-ve
Daily Analysis
Consolidation with downside bias
Resistance
1.0038 - Mon's high
1.0012 - Reaction high fm 0.9949
0.9986 - Y'day's high
Support
0.9892 - Y'day's low
0.9871 - Last Fri's low
0.9853 - Last Wed's low
. USD/CHF - 0.9924... Although price rebounded to 0.9986 ahead of European open Thur, price fell to 0.9961 in Europe b4 tumbling to intra-day low at 0.9892 on dlr's broad-based weakness due to long liquidation ahead of Fri's NFP.
. Looking at bigger picture 1st, dlr's upmove fm Feb's 3-1/2 month bottom at 0.9661 to as high as 1.0006 (Reuters) last Tue, then 1.0038 Mon signals the medium-term fall fm 2015 4-year peak at 1.0330 (Nov) has ended there n as long as sup 0.9853 holds, upside bias is seen for initial headway to 1.0074, this is a 'dynamic' 61.8% r of aforesaid fall. A weekly close abv there would bode well for dlr to head to 1.0198 (being 100% proj. of 0.9661-1.0006 measured fm 0.9853), abv there would retain bullishness for test of pivotal res at 1.0257 (Jan's top). On the downside, only a daily close below 0.9853 would risk weakness twd 0.9793 (61.8% r fm 0.9661) b4 prospect of rebound.
. Today, dlr's daily close below 0.9949 (reaction low fm 1.0038) confirms aforesaid upmove fm Feb's 0.9661 bottom has indeed made a top at 1.0038 n retracement twd 0.9853 is likely but below needed to yield stronger correction twd 0.9805 (61.8% r fm 0.9661). Only abv 0.9986 risks 1.0012, then 1.0038.
_20160304070529.png "chf")
Trendsetter does not warrant or guarantee the accuracy, timeliness or completeness to its service or information contained therein. Trendsetter does not give, whatsoever, warranties, expressed or implied, to the results to be obtained by using its services or information it provided. Users are trading on their own risk and Trendsetter shall not be responsible under any circumstances for the consequences of such activities. Trendsetter and its affiliates, in no event, be liable to users or any third parties for any consequential damages, however arising, including but not limited to damages caused by negligence whether such damages were foreseen or unforeseen.
Recommended Content
Editors’ Picks
EUR/USD edges lower toward 1.0700 post-US PCE
EUR/USD stays under modest bearish pressure but manages to hold above 1.0700 in the American session on Friday. The US Dollar (USD) gathers strength against its rivals after the stronger-than-forecast PCE inflation data, not allowing the pair to gain traction.
GBP/USD retreats to 1.2500 on renewed USD strength
GBP/USD lost its traction and turned negative on the day near 1.2500. Following the stronger-than-expected PCE inflation readings from the US, the USD stays resilient and makes it difficult for the pair to gather recovery momentum.
Gold struggles to hold above $2,350 following US inflation
Gold turned south and declined toward $2,340, erasing a large portion of its daily gains, as the USD benefited from PCE inflation data. The benchmark 10-year US yield, however, stays in negative territory and helps XAU/USD limit its losses.
Bitcoin Weekly Forecast: BTC’s next breakout could propel it to $80,000 Premium
Bitcoin’s recent price consolidation could be nearing its end as technical indicators and on-chain metrics suggest a potential upward breakout. However, this move would not be straightforward and could punish impatient investors.
Week ahead – Hawkish risk as Fed and NFP on tap, Eurozone data eyed too
Fed meets on Wednesday as US inflation stays elevated. Will Friday’s jobs report bring relief or more angst for the markets? Eurozone flash GDP and CPI numbers in focus for the Euro.