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.



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
  • The continuity seen across these volatility cycles is a good thing. Historical precedence offer a blueprint for identifying conditions supportive for a vol-event to occur, and how they may unfold. Deepen your knowledge of historical volatility here:
  • There’s a strong correlation between interest rates and forex trading. Forex is ruled by many variables, but the interest rate of the currency is the fundamental factor that prevails above them all. Learn how interest rates impact currency markets here:
  • Many people are attracted to forex trading due to the amount of leverage that brokers provide. Leverage allows traders to gain more exposure in financial markets than what they are required to pay for. Learn about FX leverage here:
  • GDP (Gross Domestic Product) economic data is deemed highly significant in the forex market. GDP figures are used as an indicator by fundamentalists to gauge the overall health and potential growth of a country. Learn use GDP data to your advantage here:
  • Traders utilize varying time frames to speculate in the forex market. The two most common are long- and short-term-time frames which transmits through to trend and trigger charts. Learn more about time-frame analysis here:
  • Emotions are often a key driving force behind FOMO. If left unchecked, they can lead traders to neglect trading plans and exceed comfortable levels of risk. Read on and get your emotions in check here:
  • There are three major forex trading sessions which comprise the 24-hour market: the London session, the US session and the Asian session. Learn about the characteristics of each session here:
  • Implementing a trading checklist is a vital part of the trading process because it helps traders to stay disciplined, stick to the trading plan, and builds confidence. Learn how to stick to the plan, stay disciplined, and use a checklist here:
  • Use this technical analysis pattern recognition skills test to sharpen your knowledge:
  • #Gold prices put in a major breakout last month and, so far, buyers have held the line. But a really big Fed meeting is on the calendar for this week. Can Gold bulls hold? Get your market update from @JStanleyFX here:
USD/CHF Back Into the July Open- Bulls Look to U.S. CPI for Fuel

USD/CHF Back Into the July Open- Bulls Look to U.S. CPI for Fuel

Michael Boutros, Strategist

Talking Points

  • USDCHF pullback looks to US data for support
  • Updated targets & invalidation levels

USDCHF 60min

USD/CHF Back Into the July Open- Bulls Look to U.S. CPI for Fuel

Chart Created Using TradingView

Technical Outlook: USDCHF failed to hold above a key r Fibonacci resistance confluence earlier this week with a break below the weekly open shifting the immediate focus lower. A proposed pitchfork off the 6/28 & 7/13 highs further highlights key resistance & bearish invalidation at 9863/80 where the upper parallel converges on the 61.8% extension of the advance off the June low.

Interim resistance stands at the confluence of the 50-line & the 6/28 close at 9820 with support eyed at the monthly open at 9760. Note that this level converges on the median-line extending off the highs & a longer-term parallel of the broader ascending formation off the lows. A break below would be needed to keep the short-bias in play targeting a more significant support targets at 9708 & 9664 – both areas of interest for possible short-side exhaustion / long-entries.

Bottom line: heading into tomorrow’s U.S. data stream, the risk is for a move lower before resumption of the broader advance off the June low with a breach / close above 9880 needed to validate a breakout targeting subsequent topside objectives at the May high-day close at 9921, the 61.8% retracement at 9946 & parity. Continue tracking this setup and more throughout the week- Subscribe to SB Trade Deskand take advantage of the DailyFX New Subscriber Discount.

Avoid the pitfalls of near-term trading strategies by steering clear of classic mistakes. Review these principles in the "Traits of SuccessfulTraders” series.

USD/CHF Back Into the July Open- Bulls Look to U.S. CPI for Fuel
  • A summary of the DailyFX Speculative Sentiment Index (SSI)shows traders are net long USDCHF- the ratio stands at +1.89(65% of traders are long)-bearishreading
  • Yesterday the ratio was +1.94. Long positions are 5.8% lower than yesterday and 3.5% below levels seen last week.
  • Open interest is 5.0% lower than yesterday and 3.5% below its monthly average.
  • The recent pullback from extremes in sentiment highlights the risk for a larger rebound over the near-term, while the broader outlook remains tilted to the downside as trader remain net long.

Help fine-tune you entries, click here to learn more about the DailyFX Grid Sight Index (GSI)

Relevant Data Releases This Week

USD/CHF Back Into the July Open- Bulls Look to U.S. CPI for Fuel

Other Setups in Play:

Looking for more trade ideas? Review DailyFX’s Top Trading Opportunity of 2016

---Written by Michael Boutros, Currency Strategist with DailyFX

Follow Michaelon Twitter @MBForex contact him at or Click Here to be added to his email distribution list

Join Michael for Live Scalping Webinars on Mondays on DailyFX and Tuesday, Wednesday & Thursday’s on SB Trade Desk at 12:30 GMT (8:30ET)

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