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.

Free Trading Guides
EUR/USD
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
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
USD/JPY
Mixed
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
Oil - US Crude
Bearish
Bitcoin
Bearish
More View more
Real Time News
  • RT @DShahTR: https://t.co/HQKpJtMw5v
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.72%, while traders in France 40 are at opposite extremes with 83.41%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/ueoSLUWKzP
  • Asia’s vast and growing importance to the world economy is not yet matched by the presence of a currency trading center to rival the established order. Get your update on market drivers in Asia from @DavidCottleFX here: https://t.co/E2hqoRdO7q https://t.co/mCZcz5lLpu
  • Commodities Update: As of 08:00, these are your best and worst performers based on the London trading schedule: Silver: 0.32% Gold: -0.14% Oil - US Crude: -0.33% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/ZiRe0m5CYF
  • Missed today's #AUDUSD weekly outlook webinar? See the recording here - https://t.co/uTgotBaijt Topics discussed included: - #RBA & #FOMC policy meeting minutes - AUD technical analysis - US-China #tradewar - UK election & #Brexit outlook
  • Forex Update: As of 08:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.03% 🇳🇿NZD: 0.01% 🇬🇧GBP: -0.01% 🇨🇦CAD: -0.02% 🇨🇭CHF: -0.05% 🇦🇺AUD: -0.13% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/2LYpsLQGJv
  • Indices Update: As of 08:00, these are your best and worst performers based on the London trading schedule: France 40: 0.33% Germany 30: 0.30% Wall Street: 0.13% US 500: 0.11% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/7DedGNWcIG
  • Join our analysts for live, interactive coverage of all major market-moving economic data at the DailyFX Webinars. https://www.dailyfx.com/webinars?re-author=Cottle?utm_source=Twitter&utm_medium=Cottle&utm_campaign=twr
  • Have you been catching on your @DailyFX #podcast "Global Markets Decoded"? Catch up on them now, before new episodes release! https://t.co/mk1w1DM2Rh https://t.co/qjEHpxk8LC
  • CHF Switzerland Oct Exports MM: Actual: -1.3% Previous 2.7% Imports Actual: -2.4% Previous: -1.3%
USD/CHF Classical Technical Report 05.30

USD/CHF Classical Technical Report 05.30

2011-05-30 05:24:00
Joel Kruger, Technical Strategist
Share:
USDCHF_Classical_body_swiss1.png, USD/CHF Classical Technical Report 05.30

USD/CHF: The latest minor recovery has proved to be just that, with the market finding a fresh lower top ahead of 0.9000 in favor of this latest sharp drop to yet another record low in the 0.8500 area. Daily studies are however still looking quite stretched to us, and we continue to like the idea of taking shots at buying on dips in anticipation of a major base. Look for current declines to hold around the 0.8500 area and a break back above 0.8740 to encourage basing prospects and open the door for the potential formation of a major interday double bottom (neckline by 0.8950) projecting gains back towards 0.9500. A daily close below 0.8400 would negate.

Written by Joel Kruger, Technical Currency Strategist for DailyFX.com

If you wish to receive Joel's reports in a more timely fashion, e-mail jskruger@dailyfx.com and you will be added to the "distribution" list.

If you wish to discuss this topic or any other feel free to visit our Forum page

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

DISCLOSURES

News & Analysis at your fingertips.