DAILY USD/CHF TECHNICAL OUTLOOK
Last Update At 15 Feb 2018 04:25GMT
Trend Daily Chart
Sideways
Daily Indicators
Rising fm o/s
21 HR EMA
0.9308
55 HR EMA
0.9334
Trend Hourly Chart
Down
Hourly Indicators
Falling
13 HR RSI
37
14 HR DMI
-ve
Daily Analysis
Consolidation with downside bias
Resistance
0.9409 - Last Fri's high
0.9375 - Y'day's high
0.9326 - Hourly chart
Support
0.9271 - Intra-day low
0.9256 - Feb's 2-year low (1st)
0.9204 - 38.2% r of 0.7360-1.0344
-
USD/CHF - 0.9283.. Despite initial weakness to 0.9307 in Asia on Wed, price erased intra-day losses n rallied to session highs of 0.9375 in NY after strg U.S. CPI data before tumbling to 0.9286 on renewed selling in the dlr.
-
On the bigger picture 1st, despite dlr's impressive rally fm 2017 2-year low bottom at 0.9421 to as high as 1.0038 (Oct), subsequent selloff to 0.9700 at the start of Jan, then last week's fall to a fresh 2-year trough of 0.9256 con- firms the downtrend fm 2016 6-year peak at 1.0344 has finally resumed n would pressure price to head twds 0.9204 (38.2% r of 0.7360-1.0344). Having said that, last week's stronger-than-expected rise to 0.9470 on Thur confirms temporary low has been made n gain to 0.9502 is likely but reckon 0.9567 would cap upside (38.2% r n 50% r respectively of 0.9846-0.9290). Having said that, y'day's fall to 0.9286 suggests correction fm 0.9256 has ended n price would head to 0.9204 , being a min. 38% r of LT rise fm 0.7360-1.0344 n only abv 0.9409 risks 0.9470.
-
Today, as current price is trading below 21-hr n 55-hr emas, suggesting downside bias remains for re-test of 0.9256, o/sold readings on the hourly indicators would limit weakness to 0.9200/05 n 0.9175 should hold.
-636542811751462842.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
AUD/USD pressures as Fed officials hold firm on rate policy
The Australian Dollar is on the defensive against the US Dollar, as Friday’s Asian session commences. On Thursday, the antipodean clocked losses of 0.21% against its counterpart, driven by Fed officials emphasizing they’re in no rush to ease policy. The AUD/USD trades around 0.6419.
EUR/USD extends its downside below 1.0650 on hawkish Fed remarks
The EUR/USD extends its downside around 1.0640 after retreating from weekly peaks of 1.0690 on Friday during the early Asian session. The hawkish comments from Federal Reserve officials provide some support to the US Dollar.
Gold price edges higher on risk-off mood hawkish Fed signals
Gold prices advanced late in the North American session on Thursday, underpinned by heightened geopolitical risks involving Iran and Israel. Federal Reserve officials delivered hawkish messages, triggering a jump in US Treasury yields, which boosted the Greenback.
Bitcoin Price Outlook: All eyes on BTC as CNN calls halving the ‘World Cup for Bitcoin’
Bitcoin price remains the focus of traders and investors ahead of the halving, which is an important event expected to kick off the next bull market. Amid conflicting forecasts from analysts, an international media site has lauded the halving and what it means for the industry.
Is the Biden administration trying to destroy the Dollar?
Confidence in Western financial markets has already been shaken enough by the 20% devaluation of the dollar over the last few years. But now the European Commission wants to hand Ukraine $300 billion seized from Russia.