USD/CHF snaps two-day losing streak. Bearish candlestick formation, sustained trading below 200-day SMA favor further selling. Bullish MACD, 50-day SMA question the bears. USD/CHF registers fewer moves while trading around 0.9790 during the pre-European session on Tuesday. The daily chart forms a bearish candlestick pattern but bullish MACD and 50-day SMA could limit further declines. That said, the bears will be more powerful to aim for 0.9700 if breaking a 50-day SMA level of 0.9740 on a daily closing basis. During the quote’s further declines below 0.9700, the month-start top near 0.9670 and the January month bottom surrounding 0.9612 can offer intermediate halts to 0.9600 round-figure. Alternatively, the pair’s rise beyond Monday’s top of 0.9816 negates the
Topics:
Anil Panchal considers the following as important: 1) SNB and CHF, 1.) FXStreet on SNB&CHF, Featured, newsletter, USD/CHF
This could be interesting, too:
Vibhu Vikramaditya writes Navigating the Slippery Slope: How Hoover’s Interventions Paved the Way for the Great Depression
Ryan McMaken writes Frédéric Bastiat Was a Radical Opponent of War and Militarism
Douglas French writes Millennials: In Costco We Trust
Joseph T. Salerno writes What Fed “Independence” Really Means
USD/CHF registers fewer moves while trading around 0.9790 during the pre-European session on Tuesday. The daily chart forms a bearish candlestick pattern but bullish MACD and 50-day SMA could limit further declines. That said, the bears will be more powerful to aim for 0.9700 if breaking a 50-day SMA level of 0.9740 on a daily closing basis. During the quote’s further declines below 0.9700, the month-start top near 0.9670 and the January month bottom surrounding 0.9612 can offer intermediate halts to 0.9600 round-figure. Alternatively, the pair’s rise beyond Monday’s top of 0.9816 negates the bearish candlestick formation, which in turn could trigger the quote’s recovery targeting a 200-day SMA level of 0.9854. |
USD/CHF daily chart(see more posts on USD/CHF, ) - Click to enlarge |
Trend: Sideways
Tags: Featured,newsletter,USD/CHF