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. See our updated Privacy Policy here.

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
Subscribe
Please try again
EUR/USD
Bullish
Oil - US Crude
Bullish
Wall Street
Bearish
Gold
Bullish
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • Forex Update: As of 14:00, these are your best and worst performers based on the London trading schedule: 🇨🇭CHF: 0.69% 🇳🇿NZD: 0.53% 🇪🇺EUR: 0.51% 🇦🇺AUD: 0.34% 🇯🇵JPY: 0.30% 🇨🇦CAD: 0.12% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/nNmXsCogu7
  • Indices Update: As of 14:00, these are your best and worst performers based on the London trading schedule: FTSE 100: 0.03% US 500: -0.05% France 40: -0.12% Germany 30: -0.18% Wall Street: -0.32% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/fC4rLYXZVW
  • Hey traders! The lift in sentiment is inconsistent. What are some themes we should be looking out for? Find out from @DailyFX Chief Strategist @JohnKicklighter 👇 https://t.co/E9XhGxkm9s
  • Gold bulls remain in control with the precious metal closing above its 200DMA for the first time since early February. The combination of lower real yields and a softer USD. Get your $XAUUSD market update from @JMcQueenFX here:https://t.co/IIrfUPkoMr https://t.co/XAL6wh90Uz
  • Commodities Update: As of 14:00, these are your best and worst performers based on the London trading schedule: Gold: -0.15% Silver: -0.26% Oil - US Crude: -0.62% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/FwuCskLt6F
  • The $DXY Dollar Index is working on its fourth consecutive daily slide. As we edge closer to the 2021 swing low (89.20 on Jan 6th), worth considering its big picture perspective on a weekly chart https://t.co/LBO5IOQBLU
  • $Silver trying for breakout, as well. BIG zone of resistance ahead, around the 30 handle. Already held two spikes (august, february). If bulls can eventually break through, could be some room to run (chart 2) $SLV $XAG https://t.co/QZHOsqJMno
  • US Treasury Secretary Yellen: - Corporate taxes are at historic lows - Reform is needed to help pay for infrastructure upgrades $USD $DXY $TNX
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 87.53%, while traders in EUR/USD are at opposite extremes with 69.68%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/rZoMbRL3E4
  • a lot of talk about Burry's short on tsla. I'm more intrigued by the bet on inflation. the tsla trade seems to be getting all of the attention Burry was very early on subprime and also pretty early (but ahead of most of the crowd) on $GME. But, his analysis on both was on point
USD/CHF Technical Analysis – Triangle Floor Under Pressure

USD/CHF Technical Analysis – Triangle Floor Under Pressure

Ilya Spivak, Head Strategist, APAC

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