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
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
Oil - US Crude
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
Wall Street
Mixed
Gold
Mixed
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • Key levels in forex tend to draw attention to traders in the market. These are psychological prices which tie into the human psyche and way of thinking. Learn about psychological levels here:https://t.co/1oygcFMFNs https://t.co/7SXusrNOtH
  • Forex Update: As of 04:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: -0.08% 🇯🇵JPY: -0.13% 🇨🇦CAD: -0.14% 🇪🇺EUR: -0.25% 🇳🇿NZD: -0.28% 🇦🇺AUD: -0.60% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/wmhHLJysGa
  • Heads Up:🇳🇱 GDP Growth Rate QoQ Final (Q2) due at 04:30 GMT (15min) Expected: -8.5% Previous: -1.5% https://www.dailyfx.com/economic-calendar#2020-09-23
  • Heads Up:🇳🇱 GDP Growth Rate YoY Final (Q2) due at 04:30 GMT (15min) Expected: -9.3% Previous: -0.2% https://www.dailyfx.com/economic-calendar#2020-09-23
  • Heads Up:🇯🇵 All Industry Activity Index MoM (JUL) due at 04:30 GMT (15min) Previous: 6.1% https://www.dailyfx.com/economic-calendar#2020-09-23
  • Indices Update: As of 04:00, these are your best and worst performers based on the London trading schedule: FTSE 100: 0.70% Germany 30: 0.42% France 40: 0.38% Wall Street: 0.35% US 500: -0.09% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/wjtAMSYONm
  • 🇹🇭 Balance of Trade (AUG) Actual: $4.35B Expected: $3.45B Previous: $3.34B https://www.dailyfx.com/economic-calendar#2020-09-23
  • 🇹🇭 Balance of Trade (AUG) Actual: $4.30B Expected: $3.45B Previous: $3.34B https://www.dailyfx.com/economic-calendar#2020-09-23
  • #Copper Price Outlook Remains Bullish Despite Shift in Risk Appetite #XCUUSD $HG https://www.dailyfx.com/forex/market_alert/2020/09/23/Copper-Price-Outlook-Remains-Bullish-Despite-Shift-in-Risk-Appetite.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Moss&utm_campaign=twr https://t.co/VvFm9ekfaB
  • 🇹🇭 Balance of Trade (AUG) Actual: $4.350B Expected: $3.45B Previous: $3.34B https://www.dailyfx.com/economic-calendar#2020-09-23
USD/CHF Technical Analysis – Triangle Floor Under Pressure

USD/CHF Technical Analysis – Triangle Floor Under Pressure

2014-05-05 22:40:00
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: 0.8770 (Triangle floor), 0.8742 (Apr 11 low)
  • Resistance:0.8812 (Triangle top), 0.8861 (Apr 22 high)

The US Dollar declined against the Swiss Franc as expected after prices produced a bearish Evening Star candlestick pattern. Prices are tracing out a Triangle chart formation, a setup that carries bearish continuation implications if completed on a daily close below the pattern’s lower boundary (now at 0.8770). That would initially expose the April 11 low at 0.8742. Alternatively, a break above the Triangle top at 0.8812 exposes the April 22 high at 0.8861 at first.

Risk/reward considerations argue against taking a short position with prices trading in close proximity to relevant support. We will remain on the sidelines for the time being, waiting for a more attractive trading opportunity to present itself.

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

USD/CHF Technical Analysis – Triangle Floor Under Pressure

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