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.

Free Trading Guides
EUR/USD
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
GBP/USD
Mixed
USD/JPY
Bullish
Gold
Bullish
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
Bitcoin
Mixed
More View more
Real Time News
  • #JPY is cautiously higher against its G10 counterparts, suggesting markets are experiencing a broad risk-off tilt after the rejection of Boris Johnson's #Brexit timetable which has now put everything "in limbo" to quote Speaker John Bercow.
  • RT @Amena__Bakr: Additional Saudi troops and missile defense systems have been installed in eastern terminals after last month's attacks. h…
  • Copper is a highly tradeable commodity that has clear chart patterns. Find out how you can create efficient #copper trading strategies here: https://t.co/747cqCh2HE #CommoditieswithDailyFX https://t.co/idJU04z9TA
  • - #USDollar, Japanese #Yen may rise if corporate earnings spook markets - Weaker earnings from industrial giants may highlight toll of #tradewar - China WTO complaint against US could undermine cross-pacific talks https://www.dailyfx.com/forex/market_alert/2019/10/23/US-Dollar-JPY-May-Rise-if-Q3-Earnings-Show-Wounds-from-Trade-War.html
  • LIVE NOW: In this session, Currency Analyst @ddubrovskyFX discusses traders' positioning as a key element of market analysis to determine the prevailing and future price trends. https://www.dailyfx.com/webinars/998956395?utm_source=Twitter&utm_medium=DFXGeneric&utm_campaign=twr
  • About to start in a few minutes, will be covering positioning in the British Pound amid the latest #Brexit developments and more! Join below $GBPUSD https://t.co/FQqd59VbCL
  • The $GBP swung wildly following a series of votes that are critical in the #Brexit proceedings. Get your market update from @PeterHanksFX here:https://t.co/kEb6EeUdMu https://t.co/xceWoNxSXg
  • LIVE IN 30 MIN: In this session, Currency Analyst @ddubrovskyFX discusses traders' positioning as a key element of market analysis to determine the prevailing and future price trends. https://www.dailyfx.com/webinars/998956395?utm_source=Twitter&utm_medium=DFXGeneric&utm_campaign=twr
  • (Asia Pacific AM Briefing) GBP/USD Rate Sinks as Brexit Limbo Opens the Door to Yen Strength $GBPUSD #Brexit #Yen - https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/asia_am_briefing/2019/10/22/GBPUSD-Rate-Sinks-as-Brexit-Limbo-Opens-the-Door-to-Yen-Strength.html?CHID=9&QPID=917702 https://t.co/oyeoDOXO1I
  • Sneak-peak of the latest US Dollar Price Volatility Report, which brings you up to speed on everything $GBPUSD and #Brexit. Implied volatility and trading range table for major USD pairs included as always. Link to Full Analysis: https://www.dailyfx.com/forex/fundamental/us_dollar_index/usd_trading_today/2019/10/22/us-dollar-price-volatility-report-gbp-to-usd-in-brexit-limbo.html https://t.co/dOG8Hkg9fe
USD/CHF Trades to Monthly Lows Post SNB

USD/CHF Trades to Monthly Lows Post SNB

2017-03-16 17:20:00
Walker England, Forex Trading Instructor
Share:

Talking Points:

The USD/CHF is trading to new monthly lows this afternoon, as the SNB (Swiss National Bank) has elected to keep their key interest rates unchanged at -0.75%. While this move by the SNB was widely anticipated, US Dollar pairs continue to selloff primarily due to ongoing reactions to yesterday’s US FOMC rate decision.

Technically the USD/CHF is again trending lower in the short term, and trading back below its 10 day EMA (exponential moving average) found at 1.0059. This move lower has concluded what now appears to be a price retracement from this year’s standing high at 1.0035. Currently, the USD/CHF is approaching its 200 day MVA (simple moving average) at .9944. If prices decline below this point, it could have significant implications for the pair’s long term trend. Alternatively if the USD/CHF remains supported above this value, traders may look for prices to rebound back towards the previous swing high at 1.0176.

USD/CHF, Daily Chart with Averages

USD/CHF Trades to Monthly Lows Post SNB

(Created Using IG Charts)

Current market sentiment for the USD/CHF remains at a positive extreme, with SSI reading at -2.01. This value suggests that over 66% of traders are currently net long the market. Typically when read as a contrarian value, negative extremes may suggest that prices may continue to trend lower. In the event of a bearish breakout beneath the previously mentioned 200 day SMA, traders should expect SSI to remain negative. Alternatively in the event that the USD/CHF finds support near present values, it would be expected to see SSI move back towards more neutral readings.

Want to learn more about trading with market sentiment? Get our Free guide here.

USD/CHF Trades to Monthly Lows Post SNB

--- Written by Walker, Analyst for DailyFX.com

To Receive Walkers’ analysis directly via email, please SIGN UP HERE

See Walker’s most recent articles at his Bio Page.

Contact and Follow Walker on Twitter @WEnglandFX.

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

DISCLOSURES

News & Analysis at your fingertips.