USD/CHF: 1-hour
Higher price lows and lower stochastic lows… Why, that’s a bullish divergence right there! USD/CHF might bounce from the middle of the ascending channel on its 1-hour forex chart and head back to the top near the .9700 major psychological resistance if this divergence plays out. Price also seems to be drawing support from the 100 SMA, which is currently above the 200 SMA and indicating that the uptrend is likely to stay intact. If dollar bulls aren’t quite ready to charge yet, the pair could still retreat to the 200 SMA support or the bottom of the channel near the .9500 major psychological level before resuming its climb. If you’re really bullish on this one, you might wanna consider scaling in.
Recommended Content
Editors’ Picks
AUD/USD dips below 0.6600 following RBA’s decision
The Australian Dollar registered losses of around 0.42% against the US Dollar on Tuesday, following the RBA's monetary policy decision to keep rates unchanged. However, it was perceived as a dovish decision. As Wednesday's Asian session began, the AUD/USD trades near 0.6591.
EUR/USD lacks momentum, churns near 1.0750
EUR/USD cycled familiar levels again on Tuesday, testing the waters near 1.0750 as broader markets look for signals to push in either direction. Risk appetite was crimped on Tuesday after Fedspeak from key US Federal Reserve officials threw caution on hopes for approaching rate cuts from the Fed.
Gold wanes as US Dollar soars, unfazed by lower US yields
Gold price slipped during the North American session, dropping around 0.4% amid a strong US Dollar and falling US Treasury bond yields. A scarce economic docket in the United States would keep investors focused on Federal Reserve officials during the week after last Friday’s US employment report.
Solana FireDancer validator launches documentation website, SOL price holds 23% weekly gains
Solana network has been sensational since the fourth quarter (Q4) of 2023, making headlines with a series of successful meme coin launches that outperformed their peers.
Living vicariously through rate cut expectations
U.S. stock indexes made gains on Tuesday as concerns about an overheating U.S. economy ease, particularly with incoming economic reports showing data surprises at their most negative levels since February of last year.