News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
Oil - US Crude
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
Real Time News
  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Silver: -0.05% Oil - US Crude: -0.25% Gold: -0.77% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/C66zBofenc
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.72%, while traders in France 40 are at opposite extremes with 71.64%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/6QmJTzlrho
  • Entry orders are a valuable tool in forex trading. Traders can strategize to come up with a great trading plan, but if they can’t execute that plan effectively, all their hard work might as well be thrown out. Learn how to place entry orders here: https://t.co/1mnOXUuBpt https://t.co/8PhqKCpyzf
  • Indices Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Wall Street: 0.03% France 40: 0.03% US 500: 0.02% FTSE 100: -0.06% Germany 30: -0.09% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/Mkxtacawl4
  • AUD declined into the weekend, wiping out earlier gains against USD #IronOre tumbled this week, with futures on #SGX down about 15%! -> 3-month low China is further cracking down on steel output to ebb pollution Iron ore is a key AU export to China, posing a risk #AUD $AUDUSD https://t.co/NSDM7Ln5sA
  • Further your forex knowledge and gain informed analyses from industry leaders with our free guides, available today. Download the Q3 guide:https://t.co/7G7pWntiyY https://t.co/gAlFxO9Fl4
  • Commodities Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: -0.11% Silver: -0.53% Gold: -0.95% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/qTX1rsmxSM
  • Mexico’s second quarter GDP grows 1.5% q/q and 19.7% y/y, slightly below market expectations. Get your $USDMXN market update from @DColmanFX here:https://t.co/s3i0GDWXpr https://t.co/CD7aQhOG19
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.66%, while traders in France 40 are at opposite extremes with 71.50%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/rfrl2bsz9S
  • A strong Covid-19 vaccine program reduces risks stemming from the Delta variant. BoE optimism on economic recovery grows. Get your weekly GBP forecast from @JMcQueenFX here: https://t.co/tFxeTpzOQx https://t.co/flH1fOMBin
CCI to Trigger NZD/CHF Selling

CCI to Trigger NZD/CHF Selling

Walker England, Trading Instructor,

The Swiss Frank continues to be white hot against major currencies around the globe. As discussed yesterday in, Chart of the Day, May 29th, the Frank has been trending strongly against the Euro. Today we find that the NZD/CHF is also testing a critical resistance line allowing for us to find trades with the trend and seeking limits below the March 17th low of .6374.

Tuesday the Swiss released there UBS Consumption Indicator numbers. This number gives insight into consumer spending and gauges demand for domestic products. The results were better than expected with the Indicator reading 1.91 which is well above the expected reading of 1.57. Next on the Economic Calendar are Swiss retails sales to be released on July 4th, which will give further insight into Swiss consumption. If growth continues, it is reasonable to suggest that our trend continues on the NZD.CHF as well.

CCI_Triggers_NZD_CHF_Selling_body_Picture_1.png, CCI to Trigger NZD/CHF Selling

Price Action

Zooming in to a 4H chart we can see how our chart broke out from the range, traded in Chart of the Day, April 21st . Since moving lower the NZD/CHF has resumed its trend and is currently testing short term resistance near the .6900 handle. CCI (20 periods) is currently trading above the overbought level (+100). Looking for a sell signal, we will wait for to CCI travels back below overbought levels.

CCI_Triggers_NZD_CHF_Selling_body_Picture_2.png, CCI to Trigger NZD/CHF Selling

Trading Opportunity

My preference is to sell the NZD/CHF against resistance near the .6900 price handle. CCI will be used for entry with a confirmation of the indicator dipping below the overbought (100+) level. Stops will be placed near 1.6980. Limits should be placed at .6740 seeking a minimum limit of 160 pips, for a clear 1:2 Risk/Reward ratio.

Alternative scenarios include trading a break of resistance looking for higher highs.

Walker England contributes to the Instructor Trading Tips articles. To receive more timely notifications on his reports, email instructor@dailyfx.com to be added to the distribution list.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES