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 consolidates weekly gains above 1.1150
EUR/USD moves up and down in a narrow channel slightly above 1.1150 on Friday. In the absence of high-tier macroeconomic data releases, comments from central bank officials and the risk mood could drive the pair's action heading into the weekend.
GBP/USD stabilizes near 1.3300, looks to post strong weekly gains
GBP/USD trades modestly higher on the day near 1.3300, supported by the upbeat UK Retail Sales data for August. The pair remains on track to end the week, which featured Fed and BoE policy decisions, with strong gains.
Gold extends rally to new record-high above $2,610
Gold (XAU/USD) preserves its bullish momentum and trades at a new all-time high above $2,610 on Friday. Heightened expectations that global central banks will follow the Fed in easing policy and slashing rates lift XAU/USD.
Week ahead – SNB to cut again, RBA to stand pat, PCE inflation also on tap
SNB is expected to ease for third time; might cut by 50bps. RBA to hold rates but could turn less hawkish as CPI falls. After inaugural Fed cut, attention turns to PCE inflation.
Bank of Japan set to keep rates on hold after July’s hike shocked markets
The Bank of Japan is expected to keep its short-term interest rate target between 0.15% and 0.25% on Friday, following the conclusion of its two-day monetary policy review. The decision is set to be announced during the early Asian session.
Moneta Markets review 2024: All you need to know
VERIFIED In this review, the FXStreet team provides an independent and thorough analysis based on direct testing and real experiences with Moneta Markets – an excellent broker for novice to intermediate forex traders who want to broaden their knowledge base.