USD CHF Overview

GBPJPY has been on our radar for a while now. We were expecting the price to drop and that is exactly what is happening. This provides us with a very nice technical setup. The price has broken all major supports and is currently in freefall mode; on its way back to the long-term downtrend. Potentia....

This week should be important for the CAD. We have an interest rate decision and statement, as well as CPI and retail sales data. Ahead of those events, CAD is very strong. USDCAD has been declining for the past few weeks and it looks like this movement will continue. Currently, the price is creati....

As expected, bitcoin’s inability to climb above 11k USD sent it much lower. We managed to break the 10k support and, most recently, 8.7k USD. This will now act as the closest resistance. The immediate target for the bears is 6k USD. USDCAD broke the mid-term upwards trend line but it is still not e....

USDCHF tested the ultra-important resistance around 0.945 for the second time. This time, the price created a daily shooting star pattern, which is a very negative sign for buyers. Today, we have a confirmation of the bearish sentiment and the price is making lower lows and highs. EURGBP is very cl....

Stocks have completed their mid-term bearish correction. The DAX defended the 12,900 support and broke the mid-term downwards trend line. This has led us to the local resistance at 13,170. Given the current sentiment, this level should be eventually broken and the price should aim at recent long-te....

Sell below 0.9935. Stop loss at 0.9990. Take profit at 0.9847. Reason for the trading strategy (technically): Price has continued to test our selling area and is dropping nicely from that area. We look to remain bearish and sell on strength below 0.9935 resistance (Multiple Fibonacci retracement, pu...

As expected yesterday, the EURUSD pair declined sharply, creating a strong shooting star on the daily chart. This opens a way to a bigger correction aiming the closest support (1.1730). It looks like the bears are very determined so the downswing could be actually stronger and might aim for the 50%....

Sell below 0.9925. Stop loss at 0.9991. Take profit at 0.9826. Reason for the trading strategy (technically): Price has continued to drop really nicely after breaking our key support area. We look to remain bearish and sell on strength below 0.9925 resistance (Fibonacci retracement, pullback resista...

Sell below 0.9925. Stop loss at 0.9991. Take profit at 0.9826. Reason for the trading strategy (technically): Price has broken a key support level triggering a head and shoulders reversal. We look to sell below 0.9925 resistance (Fibonacci retracement, pullback resistance) for a strong push down to ...

Buy above 0.9937. Stop loss at 0.9872. Take profit at 1.0036. Reason for the trading strategy (technically): Price is now testing major support at 0.9937 (Fibonacci retracement, Fibonacci extension, horizontal overlap support) and we expect a strong bounce above this level to push price up to at lea...

Gold finally broke the 50% Fibonacci around the 1,282 USD/oz mark, which has been a strong resistance since the 23rd of October. After that, the price defended it as a closest support and made new mid-term highs. According to price action principles, this should trigger a buy signal. USDMXN is form....

Buy above 0.9937. Stop loss at 0.9872. Take profit at 1.0033. Reason for the trading strategy (technically): Price has started to approach our profit target perfectly. We can see that it has also made a bullish channel exit. We remain bullish above major support at 0.9937 (Fibonacci retracement, hor...

Buy above 0.9937. Stop loss at 0.9872. Take profit at 1.0033. Reason for the trading strategy (technically): Price is right above major support at 0.9937 (Fibonacci retracement, horizontal pullback support, Fibonacci extension) and we look to buy above this level for a push up to at least 1.0033 res...

Sell below 0.9981. Stop loss at 1.0037. Take profit at 0.9877. Reason for the trading strategy (technically): Price is now testing significant resistance at 0.9981 (multiple Fibonacci extensions) and we intend to see a small corrective move to at least 0.9877 (Fibonacci retracement, horizontal overl...

Sell below 0.9939. Stop loss at 0.9978. Take profit at 0.9832. Reason for the trading strategy (technically): Price has started to react off major resistance at 0.9939 (76.4% Fibonacci retracement, Fibonacci extension) and we expect to see price being pushed down to at least 0.9832 support (Fibonacc...

Buy above 0.9741. Stop loss at 0.9704. Take profit at 0.9809. Reason for the trading strategy (technically): Price has dropped further and is in a strong descending wedge formation. The plan is to go flat now and buy on the bullish exit of this formation. We look to buy on the bullish break of 0.974...

Markets are in a sideways trend as they await today's FOMC minutes. Nevertheless, we can still see a few interesting trading occasions on the charts. First, we will start with the USDCHF, where we have a false breakout of the down trendline and the 38.2% Fibonacci resistance. What’s more, the price....

Buy above 0.9741. Stop loss at 0.9704. Take profit at 0.9809. Reason for the trading strategy (technically): Price is testing major support at 0.9741 (Fibonacci extension, Fibonacci retracement, bullish divergence) and we expect a nice bounce above this level to push price up to at least 0.9809 resi...

Buy above 0.9771. Stop loss at 0.9737. Take profit at 0.9834. Reason for the trading strategy (technically): Price has bounced up nicely as expected. We remain bullish looking to buy above major support at 0.9771 (Fibonacci retracement, Fibonacci extension, horizontal overlap support) for a further ...

Buy above 0.9760. Stop loss at 0.9706. Take profit at 0.9834. Reason for the trading strategy (technically): Price is approaching major support at 0.9760 (Fibonacci retracement, horizontal overlap support, Fibonacci extension) and we expect to see a bounce above this level to push price up to at lea...

Sell below 0.9756. Stop loss at 0.9785. Take profit at 0.9679. Reason for the trading strategy (technically): Price has shot up perfectly and reached our profit target yesterday. We prepare to sell below major resistance at 0.9756 (Fibonacci extension, horizontal swing high resistance) for a push do...

Buy above 0.9672. Stop loss at 0.9627. Take profit at 0.9758. Reason for the trading strategy (technically): Price is right on major support at 0.9672 (Fibonacci retracement, Fibonacci extension, horizontal overlap support) and we expect to see a major bounce above this level to push price up to at ...

The US economy grew at an annual rate of 3.1% in the second quarter of 2017, according to figures published yesterday at 15:30 (GMT+3). Although this is historical data and was already factored into the price of the US dollar, it does increase the likelihood of the US seeing 2.0% real GDP growth in....

The Bank of Canada has indicated that it needs a more flexible, data-dependent monetary policy in the times to come, according to remarks yesterday from the bank’s head; Steven Poloz. Poloz stressed that they wouldn’t be thinking about interest rates mechanically, but rather that their outlook will....

The dollar went on the offensive against the euro and pound in the first half of today’s European trading session. The US dollar index (DXY), at the time of writing, is at the 92.80 mark (+0.38%), while the euro index (ECX) is at 94.00 (-0.32%). In my opinion, the dollar’s growth over the last few ....

During his speech yesterday at the European parliament, ECB president Mario Draghi accredited the euro’s rise since the beginning of the year to the marked improvement in the Eurozone’s economic situation. The ECB head stressed that the bank’s ongoing ultra-loose monetary policy was a significant c....

The experts at BNP Paribas expect the EURUSD pair to fall to a value of 1.15 and the GBPUSD to fall to 1.25 in the first quarter of 2018, according to their weekly ECOWEEK report; published on the 22nd of September. The table below shows the group’s forecasts for the exchange rates of a set of curr....

The Bundestag elections in Germany are over, with Angela Markel’s ruling party having won the most votes. Trading on currency markets this morning opened relatively peacefully. Parliamentary elections were also held in New Zealand over the weekend. The ruling National Party received the most votes,....

Buy above 0.9679. Stop loss at 0.9629. Take profit at 0.9757. Reason for the trading strategy (technically): Price continues to inch down towards our buying area. We remain bullish looking to buy on dips above 0.9679 support (Fibonacci retracement, horizontal pullback support) for a further push up ...

The second half of yesterday’s trading session passed without any major news. The market is still adjusting to the Fed’s decision taken on Wednesday evening (21st of September).Day’s news (GMT+3): 10:00 France: Markit services PMI (Sep), Markit manufacturing PMI (Sep). 10:30 Germany: Markit service....