Dukascopy Bank Team
Dukascopy Bank SA
EUR/CHF had been trading in a medium-term ascending wedge since late January prior to breaching this pattern to the upside last week. However, the pair has failed to accelerate from this pattern and thus has been moving sideways with a slight upward trend ever since.
This breakout could guide the Euro higher during the following weeks towards a long-term trend-line located near 1.2025. In the short term, the pair is still likely to edge higher during the following session. A steep upward movement could be limited by the weekly R1 at 1.1920, as technical indicators are already located near the overbought territory.
On the other hand, weekly indicators flash bearish signals, thus suggesting that some slight correction south could occur within the following days. The nearest resistance is set by the 55– ad 100-hour SMAs and the breached wedge in the 1.1860/75 range. The weekly PP and the 200-hour SMA are located circa 1.1840.
This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.
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.