USD/CHF clings to 23.6% Fibonacci retracement amid bearish MACD. The rising trend-line since mid-August, 200-bar SMA limits downside. The seven-day long falling trend-line restricts immediate advances. Despite being mostly around 23.6% Fibonacci retracement of August-September upside, USD/CHF stays above key support-confluence as it trades near 0.9910 while heading into the European open on Monday. While the bearish signal from 12-bar moving average convergence and divergence (MACD) indicate pair’s declines to 0.9880/75 area, a rising trend-line since August 13 and 200-bar simple moving average (SMA) will restrict the pair’s further declines. Should prices refrain from respecting 0.9875 rest-point, 0.9840 and 0.9800 can entertain sellers ahead of pleasing them
Topics:
Anil Panchal considers the following as important: 1) SNB and CHF, 1.) FXStreet on SNB&CHF, Featured, newsletter
This could be interesting, too:
Mark Thornton writes The Great Chocolate Crisis of 2024
Mustafa Ekin Turan writes How EU Law Has Made the Internet Less Free for Everyone Else
Thomas J. DiLorenzo writes Attention mises.org Readers! Treat the Students in Your Life to The Best Week of Their Year
Octavio Bermudez writes Mises in Argentina: Lessons of the Past for Today
- USD/CHF clings to 23.6% Fibonacci retracement amid bearish MACD.
- The rising trend-line since mid-August, 200-bar SMA limits downside.
- The seven-day long falling trend-line restricts immediate advances.
| Despite being mostly around 23.6% Fibonacci retracement of August-September upside, USD/CHF stays above key support-confluence as it trades near 0.9910 while heading into the European open on Monday.
While the bearish signal from 12-bar moving average convergence and divergence (MACD) indicate pair’s declines to 0.9880/75 area, a rising trend-line since August 13 and 200-bar simple moving average (SMA) will restrict the pair’s further declines. Should prices refrain from respecting 0.9875 rest-point, 0.9840 and 0.9800 can entertain sellers ahead of pleasing them with September 04 low nearing 0.9775/70. Alternatively, pair’s run-up beyond a descending trend-line since September 19, at 0.9945, holds the keys to fresh advances targeting monthly top, close to 0.9985. |
USD/CHF 4-hour chart, August - September 2019(see more posts on USD/CHF, ) - Click to enlarge |
Trend: bullish
Tags: Featured,newsletter