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.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
Oil - US Crude
Wall Street
More View more
Real Time News
  • Indices Update: As of 17:00, these are your best and worst performers based on the London trading schedule: US 500: 1.15% Wall Street: 0.59% FTSE 100: 0.09% Germany 30: 0.08% France 40: 0.05% View the performance of all markets via
  • Joe Biden is officially sworn in as President of the United States.
  • Joe Biden sworn in as 46th President of the US. $USD
  • Heads Up:🇬🇧 BoE Gov Bailey Speech due at 17:00 GMT (15min)
  • $EURCAD fell from around 1.5440 to around 1.5300, hitting its lowest level since early July, following no change to BoC's policy and a press conference from BoC Gov. Macklem. $EUR $CAD
  • $EURUSD is bouncing between well-established technical levels - to the upside the midpoint of the pair's historical range and head-and-shoulders neckline. Downside, 38.2% Fib of past three months run and 50 DMA
  • BoC Governor Macklem: - Rise in Canadian Dollar does pose some risk - We don't target the Canadian Dollar - Most appreciation in Canadian Dollar is coming from broad-based depreciation of US Dollar #BoC $CAD
  • BoC Governor Macklem - Micro-cut is one option available to the BoC - If we see further appreciation of CAD that will become more of a headwind and that presents downward risk to our projections $CAD
  • BoC Governor Macklem: - We could increase pace or shift composition of QE purchases - Yield curve control is an option - BoC reviews the full range of options and will use these options if necessary #BoC $CAD
  • Hey traders! Get your Wednesday market update from @DailyFX Chief Strategist @JohnKicklighter 👇. He covers the US Presidential inauguration and more!
USD/CHF Technical Analysis: Megaphone Leads to Amplified Breakout

USD/CHF Technical Analysis: Megaphone Leads to Amplified Breakout

James Stanley, Strategist

To receive James Stanley’s Analysis directly via email, please sign up here.

Talking Points:

  • USD/CHF Technical Strategy: Aggressively bearish break after Friday’s NFP report
  • USD/CHF has seen four aggressive days of selling on the heels of Friday’s NFP report that massively diminished odds of a June rate hike while kicking rate expectations lower for the remainder of the year.
  • SSI - If you’re looking for trading ideas, check out our Trading Guides. And if you want something more short-term in nature, check out our SSI indicator.

In our last article, we looked at the megaphone pattern that had been building in USD/CHF as price action began expanding the previously-defined range pattern. As we wrote, the megaphone pattern is often signaling an upcoming breakout, and after another test of support, that breakout showed up with aggression. Of course this break was driven by an abysmal NFP print that all but extinguished hopes/fears of a Fed rate hike in June; and with markets now expecting the Fed to continue moving towards future rate policy in a dovish manner, the US Dollar has only continued to dwindle lower.

At this point there should be very legitimate caution as to whether Swissy is oversold, as support has been a mere point-of-pause in the aggressive down-trend that’s emanated from the most recent NFP report. The zone from .9660-.9700 could become interesting as a lower-high in the modal of down-trend continuation strategies. The level at .9660 was the February swing-low in the pair and also provided a strong support swing in mid-March and again in mid-May. At .9700, we have the 50% Fibonacci retracement of the May 2015-November 2015 major move in the pair.

Should that lower swing-high develop on USD/CHF, traders can look for a continuation move to support levels at .9550 (38.2% Fibonacci retracement of the same May 2015-November 2015 major move), .9498 (27.2% extension of January 2016-February 2016 move), and then .9441 (61.8% retracement of the 2015 high to the 2011 low).

USD/CHF Technical Analysis: Megaphone Leads to Amplified Breakout

Created with Marketscope/Trading Station II; prepared by James Stanley

--- Written by James Stanley, Analyst for

To receive James Stanley’s analysis directly via email, please SIGN UP HERE

Contact and follow James on Twitter: @JStanleyFX

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