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
More View more
Real Time News
  • Equities have managed to start the new month on the front foot as bond yields are taking a breather from their rapid surge over the last few weeks. DAX 30 bulls aim towards the 14,000 mark. Get your #DAX market update from @HathornSabin here:
  • ECB President Lagarde: - Pandemic is still heavily weighing on European economies - ECB will do its job to ensure firms and families can access finances needed to weather the storm - They can do so with confidence that financing conditions will not tighten prematurely #ECB $EUR
  • Heads Up:💶 ECB President Lagarde Speech due at 16:10 GMT (15min)
  • Forex Update: As of 15:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.92% 🇨🇦CAD: 0.66% 🇳🇿NZD: 0.62% 🇯🇵JPY: -0.04% 🇪🇺EUR: -0.25% 🇨🇭CHF: -0.65% View the performance of all markets via
  • The FTSE 100 has not been an easy handle lately, a theme that is often the case with this index and its choppy price action. Get your #FTSE market update from @PaulRobinsonFX here:
  • 🇲🇽 Markit Manufacturing PMI (FEB) Actual: 44.2 Previous: 43
  • In line with comments from Stournaras last week - ECB should accelerate PEPP purchases - No fundamental justification for a tightening of bond yields at long end - GC Should instruct board at March 11 meeting to fight unwarranted tightening of financing conditions
  • The Dollar is really trying again to spark a meaningful reversal yet again, but the market seems to have hardened its skepticism. I'll be watching this $EURUSD support (100SMA and trendline) closely these next 48 hours
  • Heads Up:🇲🇽 Markit Manufacturing PMI (FEB) due at 15:30 GMT (15min) Previous: 43
  • Commodities Update: As of 15:00, these are your best and worst performers based on the London trading schedule: Silver: 0.87% Oil - US Crude: 0.72% Gold: 0.29% View the performance of all markets via
USD/CHF to See a Reprieve as Price Rebounds Off Support

USD/CHF to See a Reprieve as Price Rebounds Off Support

Michael Boutros, Strategist

USD/CHF Daily Chart

USD/CHF Price Chart - Daily Timeframe

Technical Outlook: USD/CHF is responding to a near-term support confluence at 9553 after plummeting more than 3.2% off the monthly highs. This level is defined by the 78.6% retracement of the September advance and basic parallel support extending off he early December swing lows. Although the broader outlook remains weighted to the downside, the immediate decline is vulnerable while above this threshold with a rebound to ultimately offer more favorable short-entries.

New to Forex Trading? Get started with this Free Beginners Guide

USD/CHF 240min Chart

USD/CHF Price Chart - 240min Timeframe

Notes: A closer look at near-term price action sees USD/CHF trading within the confines of a descending pitchfork formation extending off the December highs with the lower median-line parallel further highlighting the 9553 support confluence. Interim resistance stands at the slope confluence around ~9640s with a breach above 9675 needed to suggest a more significant near-term low is in place. Broader bearish invalidation stands with the upper parallel at 9728.

A break lower from here targets subsequent support objectives at the 161.8% extension at 9486 backed by the 2017 low-day close / July low 9439. Bottom line: from a trading standpoint, the immediate risk is for this rebound to stretch a bit higher but ultimately the advance should offer more favorable short entries near structural resistance.

For a complete breakdown of Michael’s trading strategy, review his Foundations of Technical Analysis mini-series

USD/CHF IG Client Sentiment

USD/CHF IG Client Sentiment
  • A summary of IG Client Sentimentshows traders are net-long USDCHF- the ratio stands at +3.78 (79.1% of traders are long) – bearishreading
  • Retail has remained net-long since Nov 17th; price has moved 3.9% lower since then
  • Long positions are 2.4% higher than yesterday and 24.8% higher from last week
  • Short positions are 5.3% higher than yesterday and 22.5% lower from last week
  • We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests USDCHF prices may continue to fall. Retail is less net-long than yesterday but more net-long from last week. The combination of current positioning and recent changes gives us a further mixed USDCHF trading bias from a sentiment standpoint.

See how shifts in USD/CHF retail positioning are impacting trend- Click here to learn more about sentiment!


Relevant Data Releases

Economic Calendar

Why does the average trader lose? Avoid these Mistakes in your trading

Other Setups in Play

- Written by Michael Boutros, Currency Strategist with DailyFX

To receive Michael’s analysis directly via email, please SIGN UP HERE

Follow Michael on Twitter @MBForex or contact him at

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