USDCHF: Traded a tight range of 0.9924/77

Jim Langlands FX Charts

USDCHF: 0.9925

US$Chf has traded a tight range of 0.9924/77 on Friday, leaving the mildly positive, medium term outlook unchanged on Monday.

1 hour/4 hour indicators: Turning lower

Daily Indicators: Turning higher

Weekly Indicators: Neutral

Preferred Strategy: With the short term charts looking a bit heavy, a test of 0.9900/0.9885 would not surprise although the daily momentum indicators still look constructive and buying dips is preferred as I suspect that we could eventually see a run back to 1.0000 and possibly to 1.0040.

Buy US$Chf @ 0.9890. SL @ 0.9865, TP @ 0.9980.

Resistance		Support
1.0015	Minor	0.9923/20	Friday low /(23.6% of 0.9742/0.9977)
1.0000	Psychological	0.9900	Minor
0.9971	Friday high	0.9985	(38.2% of 0.9742/0.9977)
0.9965	(76.4% of 0.1137/0.9816)	0.9854	6 Dec low / (50% of 0.9742/0.9977)
0.9945	Minor	0.9835	100 WMA /5 Dec low

Author

Jim Langlands

FX Charts

Jim Langlands began his trading career in the commodities markets in London in 1976, before moving to Australia in 1979 to work as a floor trader on the Sydney Futures Exchange.

EUR/USD loses traction, breaks below 1.1900

EUR/USD comes under extra downside pressure, breaching below the 1.1900 support once again on Tuesday. The improved tone in the US Dollar keeps the pair on the back foot after two consecutive daily advances. In the meantime, prudence is expected to kick in ahead of the release of the key US Nonfarm Payrolls on Wednesday.

GBP/USD slips back to daily lows near 1.3640

GBP/USD drops to daily lows near 1.3640 as sellers push harder and the Greenback extends its rebound in the latter part of Tuesday’s session. Looking ahead, the combination of key US releases, including NFP and CPI, alongside important UK data, should keep the pound firmly in focus over the coming days.

Gold the battle of wills continues with bulls not ready to give up

Gold remains on the defensive and approaches the key $5,000 region per troy ounce on Tuesday, giving back part of its recent two day. The precious metal’s pullback unfolds against a firmer tone in the US Dollar, declining US Treasury yields and steady caution ahead of upcoming key US data releases.

Bitcoin's downtrend caused by ETF redemptions and AI rotation: Wintermute

Bitcoin's (BTC) fall from grace since the October 10 leverage flush has been spearheaded by sustained ETF outflows and a rotation into the AI narrative, according to Wintermute.

Dollar drops and stocks rally: The week of reckoning for US economic data

Following a sizeable move lower in US technology Stocks last week, we have witnessed a meaningful recovery unfold. The USD Index is in a concerning position; the monthly price continues to hold the south channel support.

XRP holds $1.40 amid ETF inflows and stable derivatives market

Ripple trades under pressure, with immediate support at $1.40 holding at the time of writing on Tuesday. A recovery attempt from last week’s sell-off to $1.12 stalled at $1.54 on Friday, leading to limited price action between the current support and the resistance.