Patterns: EUR/CHF, EUR/HUF

Dukascopy Bank Team Dukascopy Bank SA

EUR/CHF 4H Chart: Two scenarios likely

The EUR/CHF currency pair continued to trade downwards within the falling wedge pattern.

From a theoretical point of view, it is likely that the exchange rate could decline within the given pattern within the following trading sessions. Then, a breakout north could occur, and the rate could target the Fibo 23.60% at 1.0861.

Meanwhile, note that the currency pair is pressured by the 55-, 100– and 200-period moving averages in the 1.0695/1.0740 range. Thus, some downside potential could continue to prevail in the market.

EUR/HUF 4H Chart: Bears could prevail

As apparent on the chart, the EUR/HUF exchange rate breached the rising wedge pattern south.

From a theoretical perspective, it is likely that some downside potential could prevail in the market. In this case the currency pair could target the Fibonacci 38.20% retracement at 347.15.

In the meantime, note that the pair could gain support from the Fibonacci 23.60% retracement at 355.21. Thus, a reversal north could occur, and the rate could re-test the 368.25 mark.

Author

Dukascopy Bank Team

Dukascopy Bank SA

Dukascopy Bank stands as an innovative Swiss online banking institution, with its headquarters situated in Geneva, Switzerland.

GBP/USD hovers around daily lows near 1.3450

GBP/USD trades with decent losses on Thursday, revisiting the 1.3450 zone. Cable’s resumption of the selling interest comes after two daily advances in a row and follows the improved sentiment around the Greenback amid fresh concerns in the Middle East.

EUR/USD slips back to two-day lows near 1.1510

EUR/USD faces some renewed downside pressure and retests the low 1.1500s in the latter part of Thursday’s NA session. The move lower in spot comes after two daily advances in a row and follows the fresh bid bias in the US Dollar amid the re-emergence of some effervescence in the Middle East. Moving forward, US NFP data will take centre stage on Friday.

How Wall Street rigs the game [Video]

In this week’s Live from the Vault, Andrew Maguire is joined by Peter Antico and Sean Stone to discuss the Paradigm of Money - an in-depth expose of financial market corruption, from naked shorting to the two-tier system that protects Wall Street.

Dogecoin Price Forecast: DOGE sell-off seems unstoppable despite renewed retail interest

Dogecoin (DOGE) is trading under dominant selling pressure on Thursday, hovering below $0.0700, a recent support-turned-resistance level. The meme coin has shed 3% of its value in the first week of August, against a backdrop of heavier selling pressure in previous months since May highs around $0.1186.

The Fed is doing the exact opposite of what it should be doing

About the Yen: The WSJ has a front-page story about how the Fed is doing the exact opposite of what it should be doing—lending dollars to Japan to buy yen. “Put simply: America is printing dollars so Japan can buy yen.

9-3: Is the Federal Reserve’s vote tally Warsh's new forward guidance?

The rate did not move. Neither did the statement, and that’s the more interesting fact. Set the July 29 Federal Open Market Committee (FOMC) statement beside the one issued on June 17, and the two documents are identical apart from a single verb and a paragraph at the bottom naming three dissenters.