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.



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

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
Oil - US Crude
Wall Street
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
  • US Dollar Price Action Setups: EUR/USD, GBP/USD $USD $EURUSD $GBPUSD
  • RT @CGasparino: BREAKING -- @JoeBiden Admin is in the early stages of developing a regulatory approach to the booming crypto biz, sources t…
  • The US Dollar is in correction within the yearly uptrend with the decline now eyeing initial support objectives just lower. Get your $USD technical analysis from @MBForex here:
  • Commodities Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: -0.03% Gold: -0.29% Silver: -0.57% View the performance of all markets via
  • The Dollar ($DXY) has cleared both its 50-day SMA and the midpoint of the 2021 range. What has greater pull: its roll as wayward safe haven (vs inverted $SPX) or the recent fade in returns (US 10yr). The 20-day correlation to both approximately ~0.8, strong
  • US Dollar Index (DXY) trend from last March picking up steam again. February and January lows up next on radar, could take a few weeks. Get your market update from @PaulRobinsonFX here:
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.55%, while traders in Germany 30 are at opposite extremes with 80.61%. See the summary chart below and full details and charts on DailyFX:
  • RT @ChadPergram: Biden now mtg w/bipartisan/bicameral mbrs about infrastructure. Says they're discussing "how to pay for it." Adds they "ho…
  • $WTI #Crude #Oil Price Outlook: Breakout Eyes Resistance- Bulls at Risk -
  • Indices Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Germany 30: -0.17% France 40: -0.21% FTSE 100: -0.21% Wall Street: -0.43% US 500: -0.63% View the performance of all markets via
Trading Opportunities of 2016: USDCHF Long

Trading Opportunities of 2016: USDCHF Long

Jamie Saettele, CMT, Sr. Technical Strategist

The next leg of the USD bull may be led by a weakening CHF. A study of long-term price action reveals that USD/CHF weakness since 1985 is confined within converging trendlines. Importantly, the converging nature of the boundaries appears on logarithmic scale. As Edwards and Magee wrote in Technical Analysis of Stock Trends;

“An entire Major Bear Decline on any arithmetic monthly chart may appear like a giant Falling Wedge. This is due to the fact that the up and down fluctuations which compose the Major Swing, while maintaining about the same extent in percentage, tend to shorten in terms of points as prices move from higher and higher levels.”

They also wrote however that “most true wedges are too short-lived (seldom longer than 3 months) to take on a recognizable definition on a monthly chart, but they may be spotted occasionally on the weeklies.”

So, trade since 1985 may not compose a ‘true’ wedge but the characteristics of a wedge, specifically the converging boundaries (log scale…that’s important), are present. The converging lines indicate less and less selling pressure at the lows. Now, notice the 2011 and 2015 candles (each candle on the first chart is 1 year). Both candles classify as long legged dojis, which indicate heavy pressure. Both candles represent the result of SNB intervention but price action doesn’t discriminate with respect to the trading operations that produce the candle. In other words, demand is demand.

The move may already be underway but, in the event of a pullback from current levels, I would focus on the 200 week average and a trendline in the mid-.9300s for support. Initial focus is towards the upper wedge boundary and 2011 high at 1.1732

USDCHF Weekly Chart

Trading Opportunities of 2016: USDCHF Long

Prepared by Jamie Saettele.

USDCHF Yearly Chart

Trading Opportunities of 2016: USDCHF Long

Prepared by Jamie Saettele.

See the next Top Trade Opportunities in 2016: Yen Selling is Falling out of Style – Time to Buy

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