mardi 2 août 2016

USD/CHF Weekly
USD/CHF Weekly
From the medium-term perspective, we see that invalidation of the breakout above the previously-broken rising green line and its negative impact on the exchange rate is still in effect. Additionally, sell signals generated by the indicators support further deterioration in the coming week.
Having said the above, let’s check what we can infer from the daily chart.
USD/CHF Daily
USD/CHF Daily
Looking at the daily chart, we see that USD/CHF moved slightly lower once again. Additionally, there are no buy signals, which could encourage currency bulls to act, which means that yesterday’s assumptions are up-to-date:
(…) as long as there won’t be buy signals generated by the indicators, another attempt to move lower is likely – especially when we factor in the medium-term picture. If this is the case and the pair moves lower once again, the next downside target would be around 0.9580, where the blue rising support line (based on the May and Jun lows) currently is.
Very short-term outlook: bearish
Short-term outlook: mixed with bearish bias
MT outlook: bearish
LT outlook: mixed

Trading position (short-term; our opinion): Short positions (with a stop loss order at 0.9967 and next downside target at 0.9590) are justified from the risk/reward perspective at the moment. We will keep you informed should anything change, or should we see a confirmation/invalidation of the above.

Related Posts:

  • EUR/USD: world keeps spinning around Central BanksEUR/USD Current price: 1.1049View Live Chart for the EUR/USDThe key event today was meant to be the July FOMC monetary policy meeting in the US, but upcoming stimulus programs in Japan are also to be blamed for what happened … Read More
  • Fed Upbeat & OutsignalledThe short message from the FOMC was: “We like the economy but we're done making promises”. The dollar was whipsawed on the announcement; the euro was the top performer and yen lagged. A low-key Asia-Pacific calendar is ahead … Read More
  • Market Talk - July 27, 2016More talk that the expected that the Japanese stimulus package could exceed the JPY 20tln and could even be as large as 28tln boosted the Nikkei and sent the Yen back to 104.50 level. Rumours have been circulating for a while… Read More
  • USD/CAD Canadian Dollar Higher Despite Less Dovish FOMC StatementThe Canadian dollar is higher after the U.S. Federal Reserve ended its two day Federal Open Market Committee (FOMC) meeting and released its statement holding interest rates unchanged. The mixed messages from the Fed who did … Read More
  • Fed Recap: Another non-committal non-eventAs widely expected, the Fed opted once again to refrain from raising interest rates after its two-day meeting concluded on Wednesday afternoon. And as usual, market-watchers dug feverishly into the policy statement searching … Read More

0 commentaires:

Enregistrer un commentaire

Follow US on Facebook

Popular Posts