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
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
Wall Street
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
Gold
Bullish
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • Silver prices have struggled to set support over the past week, but today’s move is encouraging for Silver bulls and there may be scope for topside continuation. Get your $XAG market update from @JStanleyFX here:https://t.co/IXGwt7iWOY https://t.co/oGfeq9BhUx
  • Commodities Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Silver: 2.91% Gold: 1.18% Oil - US Crude: 0.08% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/DguhEbR3xk
  • Mnuchin and Pelosi plan to continue talks on stimulus later today - BBG
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.36%, while traders in Wall Street are at opposite extremes with 64.60%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/1hXd5NIVwS
  • $SPX battling it out at resistance. same zone that was in-play mid-August, and was also the prior ath set in Feb $ES $SPY https://t.co/lgu4PPk1cK
  • 🇧🇷 Balance of Trade (SEP) Actual: $6.2B Expected: $7.1B Previous: $6.6B https://www.dailyfx.com/economic-calendar#2020-10-01
  • Indices Update: As of 18:00, these are your best and worst performers based on the London trading schedule: US 500: 0.43% Germany 30: 0.01% Wall Street: 0.00% France 40: -0.03% FTSE 100: -0.19% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/RJRCefPXqH
  • Check out the @DailyFX Trader Education Center for detailed insight on how to trade pennant chart patterns plus more found at the link below: https://www.dailyfx.com/education/technical-analysis-chart-patterns/pennant-pattern.html/?ref-author=Dvorak
  • $AAL $UAL | Big moves potentially ahead by major US airliners, which could lead the way so to speak in terms of where the broader market heads next. These two companies hinge largely on stimulus talks. United and American Airlines coiled into pennant formations. #Stocks #Trading https://t.co/7lJXEokJ5o
  • Heads Up:🇧🇷 Balance of Trade (SEP) due at 18:00 GMT (15min) Expected: $7.1B Previous: $6.6B https://www.dailyfx.com/economic-calendar#2020-10-01
USD/CHF Technical Analysis – Resistance Now Above 0.90

USD/CHF Technical Analysis – Resistance Now Above 0.90

2014-05-29 03:52:00
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:0.8952-56 (Apr 4 high, 100% Fib exp.), 0.8896 (76.4% Fib exp.)
  • Resistance: 0.9016 (123.6% Fib exp.), 0.9053 (138.2% Fib exp.)

The US Dollar moved higher as expected against the Swiss Franc after prices produced a bullish Piercing Line candlestick pattern. A break above resistance in the 0.8952-56 area – the 100% Fibonacci expansion and the April 4 high – has cleared the way for a challenge of the 123.6% level at 0.9016. A daily close above that exposes the 138.2% Fib at 0.9053. A reversal back below 0.8952 aims for the 76.4% Fibat 0.8896.

While a long a position seems workable from a risk/reward perspective, we will tactically opt not to pursue it. The inverse correlation between USDCHF and EURUSD is now 0.92 on 20-day percent change studies, and we already have a short EURUSD position. Adding a long USDCHF trade here would in effect double our existing exposure, so we will continue to stand aside.

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

USD/CHF Technical Analysis – Resistance Now Above 0.90

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