DAILY USD/CHF TECHNICAL OUTLOOK
Last Update At 18 Jan 2018 01:33GMT
Trend Daily Chart
Sideways
Daily Indicators
Falling
21 HR EMA
0.9631
55 HR EMA
0.9636
Trend Hourly Chart
Down
Hourly Indicators
Rising
13 HR RSI
54
14 HR DMI
+ve
Daily Analysis
Initial rise b4 retreat
Resistance
0.9732 - Last Thur's low (now res)
0.9700 - Prev. Jan's low (now res)
0.9685 - This week's high (Mon)
Support
0.9603 - Mon's low
0.9573 - Y'day's near 4-month low
0.9553 - Jun 2017 low
-
USD/CHF - 0.9642.. Despite continuing its recent losing streak n hitting a near 4-month low of 0.9573 at Asian open, dlr rebounded to 0.9651 b4 re-testing 10.9573, rally in U.S. stocks later sent price to session highs of 0.9659.
-
On the bigger picture 1st, despite dlr's resumption of downtrend fm 2016 6-year peak at 1.0344 (Dec) to a fresh 2-year bottom of 0.9421 in Sep, subse- quent rally abv Aug's 0.9773 high to a 5-month peak at 1.0038 in Oct confirms aforesaid decline fm 1.0344 has made a low there. Having said that, dlr's fall to 0.9700 initially in Jan n last Fri's break of this sup signals upmove fm 0.9421 has made a top n would head twds 0.9421 later this month or Feb. Therefore, selling dlr again on recovery is the way to go n only a daily close only abv 0.9700 (pre. Jan's low, now res) would signal temporary bottom is made n may risk stronger retracement twds 0.9771.
-
Today, dlr's rally fm 0.9573 to 0.9659 in NY on Wed, then 0.9669 in Aust. suggests recent decline has made a temp. low there as this lvl was accompanied by 'bullish convergences' on the hourly indicators, as long as 0.9603 is seen but only abv 0.9700 yields 0.9732/37.
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 extends gains above 1.0700, focus on key US data
EUR/USD meets fresh demand and rises toward 1.0750 in the European session on Thursday. Renewed US Dollar weakness offsets the risk-off market environment, supporting the pair ahead of the key US GDP and PCE inflation data.
GBP/USD extends recovery above 1.2500, awaits US GDP data
GBP/USD is catching a fresh bid wave, rising above 1.2500 in European trading on Thursday. The US Dollar resumes its corrective downside, as traders resort to repositioning ahead of the high-impact US advance GDP data for the first quarter.
Gold price edges higher amid weaker USD and softer risk tone, focus remains on US GDP
Gold price (XAU/USD) attracts some dip-buying in the vicinity of the $2,300 mark on Thursday and for now, seems to have snapped a three-day losing streak, though the upside potential seems limited.
Injective price weakness persists despite over 5.9 million INJ tokens burned
Injective price is trading with a bearish bias, stuck in the lower section of the market range. The bearish outlook abounds despite the network's deflationary efforts to pump the price.
US Q1 GDP Preview: Economic growth set to remain firm in, albeit easing from Q4
The United States Gross Domestic Product (GDP) is seen expanding at an annualized rate of 2.5% in Q1. The current resilience of the US economy bolsters the case for a soft landing.