USD/CHF pushes higher and now the technical pattern top is in focus


  • USD/CHF is trading higher this morning after a risk-on move.
  • It has been reported that China and the US may remove tariffs.

 

On the 4-hour chart below USD/CHF looks like it may be set to test the top of the triangle pattern that has been forming since October,

The move today came after reports that China and US agree to phased rollback of extra trade war tariffs. 

The indices are all trading higher after a move away from safe-haven assets was noted. Gold, JPY and CHF all suffered, while the DAX and the FTSE 100 rallied.

Any break of this pattern would be seen as risk positive but there are still a few things to contend with later in the session. We are due to hear from Fed's Bostic and Kaplan and we will also get the latest initial jobless claims data later in the session. 

USD/CHF analysis

USD/CHF

Overview
Today last price 0.9933
Today Daily Change 0.0010
Today Daily Change %  0.10
Today daily open 0.9923
 
Trends
Daily SMA20 0.9916
Daily SMA50 0.9916
Daily SMA100 0.987
Daily SMA200 0.9955
 
Levels
Previous Daily High 0.9941
Previous Daily Low 0.9915
Previous Weekly High 0.997
Previous Weekly Low 0.985
Previous Monthly High 1.0028
Previous Monthly Low 0.9837
Daily Fibonacci 38.2% 0.9925
Daily Fibonacci 61.8% 0.9931
Daily Pivot Point S1 0.9912
Daily Pivot Point S2 0.99
Daily Pivot Point S3 0.9886
Daily Pivot Point R1 0.9938
Daily Pivot Point R2 0.9952
Daily Pivot Point R3 0.9964

 

 

Share: Feed news

All information and content on this website, from this website or from FX daily ltd. should be viewed as educational only. Although the author, FX daily ltd. and its contributors believe the information and contents to be accurate, we neither guarantee their accuracy nor assume any liability for errors. The concepts and methods introduced should be used to stimulate intelligent trading decisions. Any mention of profits should be considered hypothetical and may not reflect slippage, liquidity and fees in live trading. Unless otherwise stated, all illustrations are made with the benefit of hindsight. There is risk of loss as well as profit in trading. It should not be presumed that the methods presented on this website or from material obtained from this website in any manner will be profitable or that they will not result in losses. Past performance is not a guarantee of future results. It is the responsibility of each trader to determine their own financial suitability. FX daily ltd. cannot be held responsible for any direct or indirect loss incurred by applying any of the information obtained here. Futures, forex, equities and options trading contains substantial risk, is not for every trader, and only risk capital should be used. Any form of trading, including forex, options, hedging and spreads, contains risk. Past performance is not indicative of future FX daily ltd. are not Registered Financial Investment Advisors, securities brokers-dealers or brokers of the U.S. Securities and Exchange Commission or with any state securities regulatory authority OR UK FCA. We recommend consulting with a registered investment advisor, broker-dealer, and/or financial advisor. If you choose to invest, with or without seeking advice, then any consequences resulting from your investments are your sole responsibility FX daily ltd. does not assume responsibility for any profits or losses in any stocks, options, futures or trading strategy mentioned on the website, newsletter, online trading room or trading classes. All information should be taken as educational purposes only.

Recommended content


Recommended content

Editors’ Picks

USD/JPY pops and drops on BoJ's expected hold

USD/JPY pops and drops on BoJ's expected hold

USD/JPY reverses a knee-jerk spike to 142.80 and returns to the red below 142.50 after the Bank of Japan announced on Friday that it maintained the short-term rate target in the range of 0.15%-0.25%, as widely expected. Governor Ueda's press conference is next in focus.  

USD/JPY News
AUD/USD bears attack 0.6800 amid PBOC's status-quo, cautious mood

AUD/USD bears attack 0.6800 amid PBOC's status-quo, cautious mood

AUD/USD attacks 0.6800 in Friday's Asian trading, extending its gradual retreat after the PBOC unexpectedly left mortgage lending rates unchanged in September. A cautious market mood also adds to the weight on the Aussie. Fedspeak eyed. 

AUD/USD News
Gold consolidates near record high, bullish potential seems intact

Gold consolidates near record high, bullish potential seems intact

Gold price regained positive traction on Thursday and rallied back closer to the all-time peak touched the previous day in reaction to the Federal Reserve's decision to start the policy easing cycle with an oversized rate cut.

Gold News
Ethereum rallies over 6% following decision to split Pectra upgrade into two phases

Ethereum rallies over 6% following decision to split Pectra upgrade into two phases

In its Consensus Layer Call on Thursday, Ethereum developers decided to split the upcoming Pectra upgrade into two batches. The decision follows concerns about potential risks in shipping the previously approved series of Ethereum improvement proposals.

Read more
Bank of Japan set to keep rates on hold after July’s hike shocked markets

Bank of Japan set to keep rates on hold after July’s hike shocked markets

The Bank of Japan is expected to keep its short-term interest rate target between 0.15% and 0.25% on Friday, following the conclusion of its two-day monetary policy review. The decision is set to be announced during the early Asian session. 

Read more
Moneta Markets review 2024: All you need to know

Moneta Markets review 2024: All you need to know

VERIFIED In this review, the FXStreet team provides an independent and thorough analysis based on direct testing and real experiences with Moneta Markets – an excellent broker for novice to intermediate forex traders who want to broaden their knowledge base.

Read More

Forex MAJORS

Cryptocurrencies

Signatures