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
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
Wall Street
More View more
Real Time News
  • Are you new to trading? Technical analysis of charts aims to identify patterns and market trends by utilising different forms of technical chart types and other chart functions. Get a refresher on technical analysis or begin building your knowledge here:
  • USD hegemony is at risk thanks to changes in the global economy and the long-term consequences of the US-China trade war. Get your market update from @CVecchioFX here:
  • Did you know a Doji candlestick signals market indecision and the potential for a change in direction. What are the top five types of Doji candlesticks? Find out
  • Use this technical analysis pattern recognition skills test to sharpen your knowledge:
  • The formation of several bullish technical patterns suggests that the haven-associated Japanese Yen is at risk of further losses against the Euro and Australian Dollar. Get your market update from @DanielGMoss here:
  • Natural gas is moving lower after weather models pointed to warmer-than-average temperatures across much of the US. Get your market update from @FxWestwater here:
  • Gold and silver prices may continue to rise in the coming months on the back of falling real rates of return and the prospect of additional fiscal support under a Biden administration. Get your market update from @DanielGMoss here:
  • Will the Swiss Franc find reprieve after recent losses against the Canadian and New Zealand Dollars as NZD/CHF and CAD/CHF uptrends face key chart barriers? Find out from @FxWestwater here:
  • The Australian Dollar may be at risk of losses against the New Zealand Dollar after an unexpectedly high NZ inflation reading sent AUD/NZD towards challenging short-term rising trend support. Get your $AUD market update from @ddubrovskyFX here:
  • Japanese candlesticks are a popular charting technique used by many traders, and the shooting star candle is no exception. Learn about the shooting star candlestick and how to trade it here:
Forex Technical Outlook: USD/CHF Rallies to Fresh Monthly Highs

Forex Technical Outlook: USD/CHF Rallies to Fresh Monthly Highs

Michael Boutros, Strategist

The U.S. Dollar is back on offense with the greenback stronger against all its major counterparts this week. USD/CHF has broken through near-term resistance after reversing off support last week with our outlook weighted to the topside while above the weekly open.

USD/CHF Daily Price Chart

USD/CHF Price Chart - Daily Timeframe

Technical Outlook: The Swiss Franc has been under considerable pressure (USDCHF higher) since rebounding off the lower parallel of this slope formation extending off the December high (red). The advance has continued to trade within the confines of a well-defined ascending pitchfork formation extending off the yearly lows with the rally surpassing the median-line today in US trade.

The focus remains higher while above highlighted confluence slope support around ~9380 with initial topside objectives eyed at 9513, the 100% extension at 9544 and the 50% retracement at 9613.

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

USD/CHF 120min Price Chart

USD/CHF Price Chart - 120min Timeframe

Notes: A closer look at Swissy price action sees the pair breaking above near-term resistance today at 9459- the immediate advance remains viable while above this threshold with near-term bullish invalidation set to the weekly open at 9371.

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

Bottom line: Price just broke though near-term uptrend resistance and keeps the focus higher while within this formation. We're likely to get some pullback here as momentum drifts into overbought territory but from a trading standpoint, I’ll favor fading weakness while above 9371 targeting the upper parallels. A break below this level would invalidate the long-bias with such a scenario risking a drop toward the lower parallel, currently just below 9300.

For a complete breakdown of Michael’s trading strategy, review his Foundations of Technical Analysis series on Building a Trading Strategy.

USD/CHF IG Client Sentiment

USD/CHF IG Client Sentiment
  • A summary of IG Client Sentiment shows traders are net-long USDCHF- the ratio stands at +2.57 (72.0% of traders are long) – bearishreading
  • Traders have remained net-long since Nov 17th; price has moved 5.0% lower since then
  • Long positions are 8.7% lower than yesterday and 4.8% lower from last week
  • Short positions are11.0% higher than yesterday and 21.3% higher 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. Yet traders are less net-long than yesterday and compared with last week. Recent changes in sentiment warn that the current USDCHF price trend may soon reverse higher despite the fact traders remain net-long.

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


Relevant Data Releases

USD/CHF Economic Calendar

Other Setups in Play

- Written by Michael Boutros, Currency Strategist with DailyFX

To receive Michael’s analysis directly, please sign-upto his email distribution list

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.