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.

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
Bearish
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
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
Bearish
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
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
GBP/USD
Bearish
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
Bullish
More View more
Real Time News
  • Update on #Cryptocurrencies #BITCOIN +0.12% #BITCOINCASH -0.08% #ETHEREUM -0.22% #RIPPLE +0.26% #LITECOIN -0.55%
  • 🇰🇷 Consumer Confidence (SEP) Actual: 79.4 Previous: 88.2 https://www.dailyfx.com/economic-calendar#2020-09-24
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇨🇦CAD: 0.20% 🇬🇧GBP: 0.15% 🇪🇺EUR: 0.07% 🇯🇵JPY: -0.05% 🇨🇭CHF: -0.30% 🇦🇺AUD: -0.38% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/AxA4F2bdLO
  • Heads Up:🇰🇷 Consumer Confidence (SEP) due at 21:00 GMT (15min) Previous: 88.2 https://www.dailyfx.com/economic-calendar#2020-09-24
  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Silver: 1.86% Gold: 0.31% Oil - US Crude: -0.30% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/KGhOU0JkGg
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.99%, while traders in EUR/GBP are at opposite extremes with 66.51%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/I8ErFM6ptJ
  • Indices Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Germany 30: 0.20% FTSE 100: 0.16% France 40: 0.13% Wall Street: -0.01% US 500: -0.02% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/ocJM79mXIK
  • Commodities Update: NYM WTI Crude 40.14 (+0.53), ICE Brent Crude 41.75 (-0.05%), NYM NYH Gasoline 119.10 (+0.82%). [delayed]
  • USD/CAD price reverses lower as the US Dollar surrenders recent gains back to the Loonie. Get your $USDCAD market update from @RichDvorakFX here: https://t.co/gikRAF4Kh8 https://t.co/koyX0zf5w3
  • "USD/CAD Price Outlook: Canadian Dollar Recoils at 100-Day MA" Link to Analysis via @DailyFX - https://www.dailyfx.com/forex/market_alert/2020/09/24/usdcad-usd-cad-price-outlook-canadian-dollar-recoils-at-100-day-ma.html $USDCAD $USD $CAD #FX #Forex #Trading https://t.co/g8UDn0Vffs
Forex: USD/CHF Technical Analysis – Support Above 0.89 Holding

Forex: USD/CHF Technical Analysis – Support Above 0.89 Holding

2014-02-17 01:00:00
Ilya Spivak, Head Strategist, APAC
Share:

To receive Ilya's analysis directly via email, please SIGN UP HERE

Talking Points:

  • USD/CHF Technical Strategy: Flat
  • Support: 0.8905 (38.2% Fib exp.), 0.8828 (50% Fib exp.)
  • Resistance: 0.8978 (trend line), 0.9001 (23.6% Fib exp.)

The Swiss Franc broke out of a tight consolidation pattern last week, with USD/CHF testing support at 0.8905 marked by the 38.2% Fibonacci expansion. A daily close below this boundary targets the 0.50% Fib at 0.8828. Near-term trend line resistance-turned-support is now at 0.8978, followed by the 23.6% expansion at 0.9001.

Entering short looks unattractive from a risk/reward perspective as prices hover just a hair above near-term support. A long position would presuppose a bounce without any meaningful evidence pointing to such an outcome in the chart setup. As such, we will remain flat for now.

Confirm your chart-based trade setups with the Technical Analyzer. New to FX? Start Here!

dailyclassics_usd-chf_body_Picture_11.png, Forex: USD/CHF Technical Analysis – Support Above 0.89 Holding

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for DailyFX.com

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

DISCLOSURES