DAILY USD/CHF TECHNICAL OUTLOOK
Last Update At 23 Oct 2018 00:24GMT
Trend Daily Chart
Sideways
Daily Indicators
Rising
21 HR EMA
0.9963
55 HR EMA
0.9959
Trend Hourly Chart
Up
Hourly Indicators
Bearish divergences
13 HR RSI
50
14 HR DMI
-ve
Daily Analysis
Consolidation b4 one more rise
Resistance
1.0068 - Jul's 14-month peak
1.0023 - 50% proj. of 0.9624-0.9956 fm 0.9857
0.9985 - Aug high (06)
Support
0.9941 - Y'day's low
0.9921 - Last Thur's low
0.9883 - Prev. hourly res (now sup)
-
USD/CHF - 0.9963.. Dlr rebounded fm 0.9950 (AUS) to 0.9971 in Asia y'day n despite a brief pullback to 0.9941 in Europe on selling in eur/chf cross, price climbed to a fresh 2-month top at 0.9980 on usd's strength b4 retreating.
-
On the bigger picture, dlr's rally fm 2018 31-month trough of 0.9188 in mid-Feb, then subsequent gain to a 14-month high at 1.0068 in Jul signals down- trend fm 2016 6-year peak at 1.0344 has made a low, however, as said 1.0068 peak was accompanied by 'bearish convergences' on the daily indicators, subsequent drop to Sep's 5-month trough at 0.9542 signals top is in place. Having said that , dlr's impressive rally fm 0.9581 to a 2-month high at 0.9980 Mon signals the correction fm 1.0068 has ended n abv 0.9985 (Aug's high) would yield re-test of 1.0068 in Nov, then twds 1.0171 later this month. On the downside, only below 0.9848 would risk stronger retracement twds 0.9700/10.
-
Today, y'day's gain to 0.9980 suggests upmove fm Sep's 5-month trough at 0.9542 would head to 1.0015 after consolidation, however 'bearish divergences' on hourly indicators would cap price at 1.0040/50. Only below 0.9921 indicates a temporary top made, then risk is seen for stronger retracement 0.9883 later.
-636758781358731229.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 daily gains above 1.0650
EUR/USD gained traction and turned positive on the day above 1.0650. The improvement seen in risk mood following the earlier flight to safety weighs on the US Dollar ahead of the weekend and helps the pair push higher.
GBP/USD recovers toward 1.2450 after UK Retail Sales data
GBP/USD reversed its direction and advanced to the 1.2450 area after touching a fresh multi-month low below 1.2400 in the Asian session. The positive shift seen in risk mood on easing fears over a deepening Iran-Israel conflict supports the pair.
Gold holds steady at around $2,380 following earlier spike
Gold stabilized near $2,380 after spiking above $2,400 with the immediate reaction to reports of Israel striking Iran. Meanwhile, the pullback seen in the US Treasury bond yields helps XAU/USD hold its ground.
Bitcoin Weekly Forecast: BTC post-halving rally could be partially priced in Premium
Bitcoin price shows no signs of directional bias while it holds above $60,000. The fourth BTC halving is partially priced in, according to Deutsche Bank’s research.
Week ahead – US GDP and BoJ decision on top of next week’s agenda
US GDP, core PCE and PMIs the next tests for the Dollar. Investors await BoJ for guidance about next rate hike. EU and UK PMIs, as well as Australian CPIs also on tap.