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
Mixed
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
Bearish
Gold
Mixed
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
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
More View more
Real Time News
  • The US Dollar continues to see varied performance against ASEAN currencies. USD/SGD is consolidating. USD/THB may bounce. USD/IDR and USD/PHP could continue lower.Get your market update from @ddubrovskyFX here:https://t.co/Ccvcy93t5X https://t.co/cejykWrenF
  • RT @FxWestwater: $AUDUSD Eyes RBA Minutes After Iron Ore Rally Fails to Lift Aussie Dollar Link: https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/asia_am_briefing/2021/06/14/AUDUSD-Eyes-RBA-Minutes-After-Iron-Ore-Rally-Fails-to-Lift-Aussie-Dollar.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Westwater&utm_campaign=twr https://t.co/AlQ6…
  • The Dow Jones, Nasdaq 100 and S&P 500 await much needed insight from the Federal Reserve on the central bank’s planned policy path given recent economic data releases. Get your market update from @PeterHanksFX here:https://t.co/bZso3WxyC6 https://t.co/d4YJ8jbGok
  • GBP/USD Eyes Trend Support as US Dollar Awaits Fed Dot Plot -via @DailyFX Link to Analysis: https://www.dailyfx.com/forex/market_alert/2021/06/14/gbp-usd-eyes-trend-support-as-us-dollar-awaits-fed-dot-plot.html $GBPUSD #Forex #Trading https://t.co/1BkZ4x0uCG
  • Are gold prices the ‘canary in the coal mine’ for the Federal Reserve meeting? Taper talk may indeed be on the menu (even if it won’t formally arrive until later this year). Get your $XAUUSD market update from @CVecchioFX here:https://t.co/gsoRisZzV6 https://t.co/cjqt0SvWIx
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.17% 🇦🇺AUD: 0.10% 🇪🇺EUR: 0.09% 🇬🇧GBP: -0.05% 🇨🇭CHF: -0.19% 🇯🇵JPY: -0.37% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/Yx2O1n8Yxc
  • The 35-day historical range on $AUDJPY matches the smallest range (as a percentage of spot) on record for the pair with the extreme summer lull back in July 2014. Will it end with a bang or whimper? https://t.co/StryktBbrr
  • ECB monthly purchases under PEPP appear to be slowing. PEPP purchases for the first two weeks of June only totaled about 31 bln euros $EUR https://t.co/RUAi61HTQJ
  • The EUR/USD rally has stalled at a key resistance confluence around the objective yearly open. Get your $EURUSD market update from @MBForex here:https://t.co/YdjKTU4gtW https://t.co/HmOJxy2F29
  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.33% Silver: -0.24% Gold: -0.64% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/kRDUQxM66L
USD/CHF Rallies to Confluent Resistance as Bearish Trend Takes a Break

USD/CHF Rallies to Confluent Resistance as Bearish Trend Takes a Break

James Stanley, Senior Strategist

Talking Points:

- The bearish trend in USD/CHF has started to come into question as strength has started to show on shorter-term charts, marked by a bit of higher-low support after prices hit a fresh six-week high last Thursday.

- Longer-term charts in the pair remain bearish in nature, with price action now testing a key zone of confluent support. If prices remain below this resistance today, the door remains open for short-side swing-strategies in USD/CHF. If this resistance is taken-out, the door is opened to shorter-term bullish strategies targeting the psychological level of .9500.

- Are you looking to improve your trading approach? Check out Traits of Successful Traders. And if you’re looking for an introductory primer to the Forex market, check out our New to FX Guide.

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

USD/CHF Weakness Takes a Breather

As US Dollar weakness was permeating throughout the FX market in January and February, USD/CHF exhibited one of the cleaner trends across the USD-spectrum. This led to a test of the two-year low earlier in February, which was eventually eclipsed just a couple of weeks later as prices burst down to find support at .9184. As buyers were coming into the pair along with shorts covering up prior positions, a spate of strength started to show as we moved towards month-end, and as we opened the door to March, prices burst-up to a fresh six-week high just shy of the .9500 psychological level.

It’s what happened after that fresh high that makes matters interesting, as prices pulled back to .9350 at which point buyers began to show-up. That support has now held since last Friday, giving the appearance of building bullish potential on shorter-term charts of USD/CHF.

USD/CHF Four-Hour Chart: Higher-High, Low Highlight Bullish Potential

usdchf four hour chart

Chart prepared by James Stanley

Longer-Term Bearish Theme Remains

On a longer-term basis, USD/CHF remains bearish in nature, as prices are now finding a bit of resistance off of the 2016 swing-low after a rough and tumble start to the year. That prior swing-low comes-in at an interesting point of .9444, which syncs-well with the 38.2% retracement of the 2018 down-trend in the pair. This can be looked at as a confluent level of resistance that can help to open the door to bullish short-term strategies.

USD/CHF Daily Chart: Confluence Around .9444, 2016 Swing-Low Helping to Set ST Resistance

usdchf daily chart

Chart prepared by James Stanley

Decision Level in USD/CHF

If resistance holds at this level today, the door remains open for short-side strategies of a swing variety, using the psychological level of .9500 for stop placement. A hold of resistance around the .9437-.9444 area would indicate a potential lower-high, and that can keep the short-side of the setup interesting with a longer-term outlook.

But if this level does not hold, and bulls are able to take-out .9450, a test of .9500 appears likely and this can become a target for shorter-term bullish strategies. Just above the psychological level of .9500 we have the 50% retracement of the bearish 2018 move in the pair, and above that, we have the 61.8% retracement at .9593. Each of which can become secondary profit targets on bullish continuation scenarios.

USD/CHF Four-Hour Chart

usdchf four hour chart

Chart prepared by James Stanley

To read more:

Are you looking for longer-term analysis on FX pairs? Our DailyFX Forecasts for Q1 have a section for the more popular major currencies. We also offer a plethora of resources on our USD/CHF page, and traders can stay up with near-term positioning via our IG Client Sentiment Indicator.

--- Written by James Stanley, Strategist for DailyFX.com

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.

DISCLOSURES