DAILY USD/CHF TECHNICAL OUTLOOKLast Update At 05 Nov 2015 23:42GMT
Trend Daily Chart
Up
Daily Indicators
Rising
21 HR EMA
0.9953
55 HR EMA
0.9935
Trend Hourly Chart
Up
Hourly Indicators
Turning down
13 HR RSI
52
14 HR DMI
+ve
Daily Analysis
Consolidation b4 uptrend resumes
Resistance
1.0064 - Equality of 0.9257-0.9844 fm 0.9477
1.1000 - Psychological res
0.9980 - Y'day's 7-month high
Support
0.9922 - Y'day's high
0.9885 - Y'day's low
0.9836 - Mon's low
. USD/CHF - 0.9954... The greenback rose fm Asian low at 0.9922 to a fresh 7-month high at 0.9980 in European morning, however, profit-taking pushed the pair lower to 0.9942 in NY morning b4 staging another rebound.
. On the bigger picture, dlr's rally abv Aug's 0.9903 high to a 7-month peak of 0.9958 last Wed n y'day's breach of said lvl to 0.9980 confirms the early erratic upmove fm May's trough at 0.9072 has finally resumed n price is now en route to psychological target at 1.0000 n then twd 1.0129 (Mar high) later this month. Therefore, in view of abv bullish analysis, buying dlr on dips for a resumption of upmove to said upside targets is the way to go. Having said that, as hourly indicators would display'bearish divergences' on on next rise, strong gain ahead of today's key jobs data is not expected n reckon 1.0064 would hold initially. On the downside, only below 0.9836 would dampen bullishness, risk retracement to 0.9821, 0.9757/62.
. Today, although price has eased after y'day's rally to 0.9980, reckon sup 0.9922 wud hold n bring another rise. Hence, we are buying on dips for 1.000 n only below 0.9922 wud signal a temp. top is made, risk retrace. to 0.9885.
_20151106072612.png "chf")
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 gains above 1.0750 after US data
EUR/USD manages to hold in positive territory above 1.0750 despite retreating from the fresh multi-week high it set above 1.0800 earlier in the day. The US Dollar struggles to find demand following the weaker-than-expected NFP data.
GBP/USD declines below 1.2550 following NFP-inspired upsurge
GBP/USD struggles to preserve its bullish momentum and trades below 1.2550 in the American session. Earlier in the day, the disappointing April jobs report from the US triggered a USD selloff and allowed the pair to reach multi-week highs above 1.2600.
Gold struggles to hold above $2,300 despite falling US yields
Gold stays on the back foot below $2,300 in the American session on Friday. The benchmark 10-year US Treasury bond yield stays in negative territory below 4.6% after weak US data but the improving risk mood doesn't allow XAU/USD to gain traction.
Bitcoin Weekly Forecast: Should you buy BTC here? Premium
Bitcoin (BTC) price shows signs of a potential reversal but lacks confirmation, which has divided the investor community into two – those who are buying the dips and those who are expecting a further correction.
Week ahead – BoE and RBA decisions headline a calm week
Bank of England meets on Thursday, unlikely to signal rate cuts. Reserve Bank of Australia could maintain a higher-for-longer stance. Elsewhere, Bank of Japan releases summary of opinions.