fxsoriginal   WEEKILY USD/CHF TECHNICAL OUTLOOK
Last Update At 18 Aug 2019 06:36GMT

Trend Daily Chart
Down

Daily Indicators
Bullish convergences

21 HR EMA
0.9786

55 HR EMA
0.9761

Trend Hourly Chart
Sideways

Hourly Indicators
Turn down

13 HR RSI
51

14 HR DMI
+ve

Daily Analysis
One more rise b4 retreat

Resistance
0.9887 - July 31 low (now res)
0.9840 - Aug 05 high
0.9815 - Aug 02 low (now res)

Support
0.9706 - Last Wed's low
0.9693 - Aug 07 low
0.9660 - Last Tue's fresh 10-1/2 month low

  • USD/CHF - 0.9782.. Dollar continued its recent losing streak last week n hit a 10-1/2 month trough of 0.9660 on Tue b4 rebounding due to easing of U.S.- China trade tensions. Price later ratcheted higher to 0.9809 on Fri b4 easing. 

  • On the bigger picture, dlr's early rally fm 2018 31-month trough of 0.91 88 in mid-Feb to a 2-year peak at 1.0238 in Apr this year confirms the downtrend fm 2016 6-year peak at 1.0344 has made a low there. Having said that, dlr's fall to 0.9695 in Jun, then a brief break there to a 10-1/2 month low of 0.9660 last week suggests correction has ended there n although subsequent bounce to 0.9809 (Fri) suggests temp. low is made, as long as 0.9840 holds, one more fall to 0.95 89 (61.8% r of 0.9188-1.0238) would be seen, 'bullish convergences' on daily oscillators should keep price abv 0.9338. Only a daily close abv 0.9840 signals temp. low is made n may bring stronger correction twd 0.9975 in late Aug/Sep.

  • Today, as long as 0.9745/50 holds, upside bias remains for further gain to 0.9815/20, 'bearish divergences' on hourly indicators would cap price below 0.98 40 n yield decline. A firm break of 0.9745 indicates temp. top is made, risks weakness to 0.9723, then later twd 0.9706.

 

USDCHF

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.

Analysis feed

Latest Forex Analysis

Editors’ Picks

EUR/USD extends recovery beyond 1.1050 on Saudi output headlines

News indicating that Saudi Arabia’s oil output would return to normal quicker than expected, lifted the market’s mood and weighed on the greenback. EUR/USD underpinned by improved Business Sentiment according to the German ZEW Survey.

EUR/USD News

GBP/USD rallies past 1.2500, reaches fresh multi-week highs

The GBP/USD pair is trading above the 1.2500 figure, getting a boost from easing demand for the greenback following relief news related to the crude oil market after the weekend attack to Saudi facilities.

GBP/USD News

USD/JPY drops back to recent range after hitting fresh 6-week highs

The USD/JPY pair spiked to 108.35, reaching the highest intraday level since August 1st and then pulled back to the 108.15/20 area.

USD/JPY News

Saudi Arabia's oil output to be fully back online in next 2-3 weeks

Citing two sources briefed on the Saudi oil operations, Reuters reported that Saudi Arabia's oil output would return to normal levels quicker than initially thought.

Read more

Gold struggles to find direction, trades in tight range near critical $1,500 handle

The XAU/USD pair struggling to make a decisive move on Tuesday and continues to trade in a relatively tight range around the $1,500 handle.

Gold News

Forex Majors

Cryptocurrencies

Signatures