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  • This is a pair flying under the radar but registering an extreme. $CADJPY weekly has difference between spot and 50-week moving average at +9.5%. Momentum past three weeks not only aggressive, the move has pushed it to 50% of 2014-2020 and 38.2% Fib of historical range https://t.co/yQJ15UpOTG
  • 🇺🇸 Initial Jobless Claims (08/MAY) Actual: 473K Expected: 490K Previous: 566K https://www.dailyfx.com/economic-calendar#2021-05-13
  • 🇺🇸 Jobless Claims 4-week Average (MAY/08) Actual: 534K Previous: 655.75K https://www.dailyfx.com/economic-calendar#2021-05-13
  • 🇺🇸 Continuing Jobless Claims (01/MAY) Actual: 3655K Expected: 3655K Previous: 3651K https://www.dailyfx.com/economic-calendar#2021-05-13
  • 🇺🇸 PPI MoM (APR) Actual: 0.6% Expected: 0.3% Previous: 1% https://www.dailyfx.com/economic-calendar#2021-05-13
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 90.48%, while traders in GBP/JPY are at opposite extremes with 68.51%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/ebZHqitIAd
  • Forex Update: As of 12:00, these are your best and worst performers based on the London trading schedule: 🇨🇭CHF: 0.20% 🇯🇵JPY: 0.12% 🇪🇺EUR: 0.08% 🇳🇿NZD: -0.06% 🇬🇧GBP: -0.12% 🇦🇺AUD: -0.22% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/i6Lngot973
  • Heads Up:🇺🇸 Initial Jobless Claims (08/MAY) due at 12:30 GMT (15min) Expected: 490K Previous: 498K https://www.dailyfx.com/economic-calendar#2021-05-13
  • Heads Up:🇺🇸 Jobless Claims 4-week Average (MAY/08) due at 12:30 GMT (15min) Previous: 560K https://www.dailyfx.com/economic-calendar#2021-05-13
  • Heads Up:🇺🇸 Continuing Jobless Claims (01/MAY) due at 12:30 GMT (15min) Expected: 3655K Previous: 3690K https://www.dailyfx.com/economic-calendar#2021-05-13
USD/CHF Nearing Cliff Dive Territory

USD/CHF Nearing Cliff Dive Territory

Jamie Saettele, CMT, Sr. Technical Strategist

Weekly

eliottWaves_usd-chf_body_Picture_4.png, USD/CHF Nearing Cliff Dive Territory

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader and see ideas on other USD crosses

-USDCHF is no longer ‘bouncing along the top side of the line that extends off of the Jul and Sep highs.’ Price accelerated lower on Thursday and the lows seen in Oct are at risk.

-A push above .9110 is still needed to suggest that the trend is not down. .8922 is possible support before the Oct low of .8889. Weakness below there opens up .8530/75 (measured objectives and Oct 2011 low).

Trading Strategy: Flat

LEVELS: .8847 .8889 .8922 | .8989 .9030 .9076

--- Written by Jamie Saettele, CMT, Senior Technical Strategist for DailyFX.com

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

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