Tag Archives: 1) SNB and CHF

USD/CHF is in a strong uptrend which keeps making higher highs.  However it has reached overbought levels according to the RSI momentum indicator  This means bulls should be aware of the increased risk of pullbacks.  USD/CHF continues rising in its established uptrend but it has now reached overbought levels (above 70) according to the Relative Strength Index (RSI) momentum indicator. When this occurs it advises long-holders not to add to their...

EUR/CHF is trying to break out of a Triangle pattern.  If it succeeds it will probably lead to further downside towards the price objective for the pattern. EUR/CHF is attempting to break out of a Triangle pattern it has formed over the last three months (see chart below). EUR/CHF Daily Chart A bearish close on Tuesday will indicate a decisive breakout has happened and suggest the start of a likely strong decline.  The market activity prior...

USD/CHF gains ground to near 0.8730 in Friday’s early European session.  The Fed cut interest rates by a quarter point at the November meeting on Thursday.  The safe-haven flows could underpin the Swiss Franc.  The USD/CHF pair drifts higher to around 0.8730 during the early European session on Friday. The renewed Greenback demand provides some support to the pair. Traders brace for the advanced US Michigan Consumer Sentiment data for November...

USD/CHF might be developing a Bull Flag continuation pattern.  This suggests there will be an extension of the uptrend to upside targets higher.  USD/CHF – which looked as if it might be reversing trend and starting a new short-term downtrend at the start of the week – suddenly turned on a dime and spiked higher on Wednesday.  The pair rallied to a higher high, giving the established uptrend a shot in the arm. USD/CHF has since peaked and...

The US Dollar depreciates for the second consecutive day and approaches support at 0.8645. The focus today is on the US PCE Prices Index but the highlight of the week is Friday's NFP report. A break of 0.8645 would confirm a double top at 0.8700. The US Dollar is on the back foot on Thursday, with investors bracing for the release of October’s PCE Prices Index data. The USD/CHF is testing the support area at 0.8645 after being rejected at the...

Gold price attracts some dip-buying on Monday and draws support from a combination of factors.  Middle East tensions, US election jitters and a modest USD pullback seem to benefit the XAU/USD.  Bets for smaller Fed rate cuts and rising US bond yields might cap the upside for the precious metal. Gold price (XAU/USD) struggles to capitalize on its intraday bounce and remains below the $2,748-2,750 supply zone through the early part of the...

USD/CHF may appreciate further due to fading odds of bumper rate cuts by the Fed in 2024. The US Dollar receives support from market caution ahead of the US presidential election. The recent lower Swiss inflation rate increased the dovish sentiment surrounding the SNB. USD/CHF remains steady after registering losses in the previous session, maintaining its position above 0.8650 during Asian trading hours on Friday. This level is near its...

The US Dollar rolls through markets and strengthens against most major G20 currencies. US equities are falling further while markets calibrate the new normal for the Fed interest-rate outlook.  The US Dollar index adds even more gains to its October rally and trades in a crucial technical area.  The US Dollar (USD) speeds up its rally this Wednesday just ahead of the US Opening Bell, fueled by uncertainty ahead of the US presidential election...

USD/CHF is trading in a mini-range after pulling back from new highs.  This is probably a pause before the pair goes to new highs.  USD/CHF is consolidating within its short-term uptrend in what is likely to be a temporary pull back before the market goes higher again. The pair is probably in a short-term uptrend now given the rising sequence of peaks and troughs since it broke out of the range-bound consolidation in August and September. ...

USD/CHF edges higher as robust US labor and inflation data have diminished the likelihood of bumper rate cuts by the Fed. Atlanta Fed President Raphael Bostic expects just one more interest rate cut of 25 basis points this year. The Swiss Franc strengthened as lower inflation in September reduced the need for the SNB to implement substantial rate cuts. USD/CHF retraces its recent losses registered in the previous session, trading around 0.8630...