DAILY USD/CHF TECHNICAL OUTLOOK
Last Update At 14 Jan 2021 00:44GMT
Trend Daily Chart
Sideways
Daily Indicators
Turning up
21 HR EMA
0.8875
55 HR EMA
0.8876
Trend Hourly Chart
Sideways
Hourly Indicators
Turning up
13 HR RSI
46
14 HR DMI
-ve
Daily Analysis
Consolidation with upside bias
Resistance
0.8946 - Dec 07 high
0.8920 - Mon's high
0.8889 - Wed's high
Support
0.8850 - Wed's low
0.8821 - Last Wed's high (now sup)
0.8775 - Last Thur's low
USD/CHF - 0.8879.. Although dlr extended decline fm Tue n fell to 0.8850 at European open, price found renewed buying n rose to 0.8889 on usd's strength b4 retreating to 0.8856 on selling in eur/chf cross.
On the bigger picture, despite dlr's rally fm Sep's bottom at 0.8999 to 0.9296 in late Sep, subsequent erratic fall to 0.9031 n Nov's brief break of 0.8999 to a fresh 5-1/2 year 0.8983 low due to usd's broad-based weakness signals LT downtrend fm 2016 peak at 1.0344 has once again resumed. Although dlr staged a rally to 0.9192 in Nov due to strg rise in U.S. yields, subsequent fall n then break of said Nov's bottom to 0.8758 last week signals price is en route to 0.8718, 'bullish convergences' on daily indicators may keep price abv 0.8646/ 56 n yield a correction. On the upside, a daily close abv 0.8983 signals low is made n risks stronger retracement twd 0.9093, then 0.9192.
Today, despite dlr's retreat fm Mon's near 5-week high at 0.8920 to 0.8850 y'day, subsequent rebound to 0.8889 suggests pullback has possibly ended n consolidation with upside bias remains for gain to 0.8946, anticipated bearish divergences should cap price below 0.8983. Below 0.8848/50 risks 0.8821/23.
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.