DAILY USD/CHF TECHNICAL OUTLOOK
Last Update At 28 Jul 2016 00:19GMT
Trend Daily Chart
Sideways
Daily Indicators
Rising
21 HR EMA
0.9895
55 HR EMA
0.9897
Trend Hourly Chart
Near term down
Hourly Indicators
Oversold
13 HR RSI
27
14 HR DMI
-ve
Daily Analysis
Consolidation with downside bias
Resistance
0.9956 - May's high (30th)
0.9910 - Y'day's Asian low (now res)
0.9893 - Last Fri's high
Support
0.9834 - Tue's low
0.9811 - Mon's low
0.9763 - Jul 14 low
. USD/CHF - 0.9850... Although the pair retreated to 0.9910 in Asia on Wed , price rose to 0.9946 in Europe n later briefly climbed to a fresh 7-week high at 0.9951 in post-FOMC NY b4 tanking to 0.9861, then 0.9848 in Australia today.
. Looking at the daily chart, although dlr's erratic rise fm 0.9522 (Jun's low) to 0.9907 last Thur, then 0.9951 y'day suggests re-test of May's 0.9956 peak would be seen after consolidation, abv would confirm MT upmove fm May's 5- month tough at 0.9444 has resumed, then price would be en route to next upside chart obj. at 1.0094 (Mar high). However, y'day's selloff in post-FOMC session signals further 'choppy' trading below 0.9956 would continue n below 0.9813 would shift risk to downside for stronger retracement of recent erratic rise fm 0.9522 to 0.9787 (38.2% r) but reckon sup at 0.9763 would contain weakness.
. Today, dlr's intra-day selloff fm 0.9951 to as low as 0.9847 (Asia) con- firms recent upmove has made a temp. top as said y'day's high was accompanied by 'bearish divergences', current falling macd confirms this view, suggesting dlr would remain under pressure n yield weakness to 0.9811/13 sup, break, 0.9787. So selling on recovery is recommended n expect 0.9907/10 should hold fm here.
_20160728081636.png)
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 clings to gains above 1.0750 after US data
EUR/USD manages to hold in positive territory above 1.0750 despite retreating from the fresh multi-week high it set above 1.0800 earlier in the day. The US Dollar struggles to find demand following the weaker-than-expected NFP data.
GBP/USD declines below 1.2550 following NFP-inspired upsurge
GBP/USD struggles to preserve its bullish momentum and trades below 1.2550 in the American session. Earlier in the day, the disappointing April jobs report from the US triggered a USD selloff and allowed the pair to reach multi-week highs above 1.2600.
Gold struggles to hold above $2,300 despite falling US yields
Gold stays on the back foot below $2,300 in the American session on Friday. The benchmark 10-year US Treasury bond yield stays in negative territory below 4.6% after weak US data but the improving risk mood doesn't allow XAU/USD to gain traction.
Bitcoin Weekly Forecast: Should you buy BTC here? Premium
Bitcoin (BTC) price shows signs of a potential reversal but lacks confirmation, which has divided the investor community into two – those who are buying the dips and those who are expecting a further correction.
Week ahead – BoE and RBA decisions headline a calm week
Bank of England meets on Thursday, unlikely to signal rate cuts. Reserve Bank of Australia could maintain a higher-for-longer stance. Elsewhere, Bank of Japan releases summary of opinions.