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.

0

Notifications

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

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
EUR/USD
Bullish
Oil - US Crude
Mixed
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
Wall Street
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
Gold
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
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
USD/JPY
Mixed
More View more
Real Time News
  • Understanding the US-Mexico relationship and how the ebb and flow of economic activity in the former impacts the latter is crucial for trading USD/MXN. Get your $USDMXN market update from @ZabelinDimitri and @FxWestwater here:https://t.co/oCRV13zbF0 https://t.co/ZnqRxkYayI
  • 🇳🇱 Consumer Confidence Final (JUN) Actual: -27 Previous: -31 https://www.dailyfx.com/economic-calendar#2020-07-06
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.22%, while traders in US 500 are at opposite extremes with 69.86%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/MNLQfuvr2U
  • Forex Update: As of 04:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.33% 🇪🇺EUR: 0.30% 🇳🇿NZD: 0.26% 🇨🇦CAD: 0.09% 🇬🇧GBP: 0.01% 🇯🇵JPY: -0.18% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/1neF13YBgw
  • Heads Up:🇳🇱 Consumer Confidence Final (JUN) due at 04:30 GMT (15min) Previous: -31 https://www.dailyfx.com/economic-calendar#2020-07-06
  • Indices Update: As of 04:00, these are your best and worst performers based on the London trading schedule: Germany 30: 2.30% France 40: 2.21% Wall Street: 1.75% FTSE 100: 1.54% US 500: 1.44% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/hossI2xmCO
  • A macro forex trading guide exploring the US-Canada relationship and how to trade the Canadian Dollar through the prism of the Core-Perimeter model. Get your market update from @ZabelinDimitri and @PeterHanksFX here:https://t.co/dF51UMcGFC https://t.co/Ba5JxKQFrH
  • RT @DanielGMoss: Risk assets following Chinese equities higher as the #ChinaA50 index breaks to fresh 12-year highs The trade-sensitive $…
  • RT @margaretyjy: The FTSE China A50 Index hit 12-year high at 15,600 points. Mainland China brokerage firms were reported to see new accoun…
  • Commodities Update: As of 02:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.15% Gold: -0.10% Silver: -0.40% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/t230TpLdIC
USD/CHF Price Outlook: Pending Swissy Technical Breakout

USD/CHF Price Outlook: Pending Swissy Technical Breakout

2018-08-17 17:30:00
Michael Boutros, Strategist
Share:

The Swiss Franc has been in consolidation for the past few months with USD/CHF trading just below key resistance at the yearly highs. Here are the updated targets and invalidation levels that matter on the USD/CHF charts heading into the close of the week. Review this week’s Strategy Webinar for an in-depth breakdown of this setup and more.

USD/CHF Daily Price Chart

USD/CHF Daily Price Chart

Technical Outlook: USD/CHF has continued to trade within the confines of the initial August opening range. Key confluence support rests at 9890-9902 where the monthly open converges on the 61.8% retracement of the June advance, the 100 day moving average and basic trendline support. Daily resistance stands at 9991- a breach above this region would be needed to validate a near-term breakout targeting key resistance at 1.0058/71 (breach / close above to mark resumption).

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

USD/CHF 240min Price Chart

USD/CHF Price Chart 240min

Notes: A closer look at USD/CHF price action further highlights this near-term price consolidation with the pair still holding within the weekly opening range. Until we break this range, treat it as such. A downside break would expose 9846/50 backed by the June lows at 9788.

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

Bottom line: USD/CHF remains within a well-defined range and we’re looking for a break of monthly opening-range (9890-9991) to offer further guidance on our near-term directional bias. From a trading standpoint, I’ve favored fading strength while within this zone until we get the definitive break.

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

USD/CHF Trader Sentiment

USD/CHF Trader Sentiment
  • A summary of IG Client Sentiment shows traders are net-short USDCHF - the ratio stands at -1.28 (43.9% of traders are long) – weak bullishreading
  • Traders have remained net-short since April 19th; price has moved 4.3% higher since then
  • Long positions are0.6% higher than yesterday and 6.5% lower from last week
  • Short positions are 16.8% higher than yesterday and 0.5% lower from last week
  • We typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests USDCHF prices may continue to rise. Traders are further net-short than yesterday and last week, and the combination of current positioning and recent changes gives us a stronger USDCHF-bullish contrarian trading bias from a sentiment standpoint.

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

---

Relevant USD/CHF Economic Data Releases

USD/CHF Economic Calendar

Economic Calendar - latest economic developments and upcoming event risk. Learn more about how we Trade the News in our Free Guide!

Other Trade Setups in Play

- Written by Michael Boutros, Currency Strategist with DailyFX

Follow Michael on Twitter @MBForex or contact him at mboutros@dailyfx.com

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

DISCLOSURES

News & Analysis at your fingertips.