To receive Ilya's analysis directly via email, please SIGN UP HERE
- USD/CHF Technical Strategy: Flat
- Support:0.8908, 0.8869-83, 0.8830
- Resistance: 0.8957, 0.9000, 0.9036
The US Dollar continued to sink against the Swiss Franc, hitting the lowest level in two weeks. Near-term support comes in at 0.8908, the 38.2% Fibonacci retracement, with a break below that exposing the 0.8869-83 area marked by a falling trend line set from November 2013 and the 50% level. Alternatively, a reversal back above the 23.6% Fib at 0.8957 on a daily closing basis clears the way for another challenge of the 0.90 figure.
While entering short seems tempting, breaking above the aforementioned falling trend line argues for a broader bullish bias and paints the current pullback as corrective. With that in mind, we will stand aside for now and wait for a buying opportunity to emerge.
Confirm your chart-based trade setups with the Technical Analyzer. New to FX? Start Here!
Daily Chart - Created Using FXCM Marketscope 2.0
Forex FundamentalsAs the world's second largest economy, China's challenge to America’s dominance includes a push to make the yuan (RMB), the world’s reserve currency. Whether it can do that now is unclear.
EconomicsOne particular barrier to trade that has received much attention of late and caused delays in negotiations of the TPP is exchange-rate manipulation, by which a country artificially devalues its ...
ForexBreaking news moves forex markets. Here are the top U.S. sites for tracking forex news.
InvestingAccess to financial information has grown with the expansion of digital news. Bloomberg and Thomson Reuters lead the pack, claiming a majority of the business information market.
EconomicsSouth Korea is the latest country to cut interest rates in an attempt to stimulate economic growth.
Forex EducationPeer-to-peer (P2P) currency exchange networks offer a viable and cheaper alternative for buying and selling currencies.
ForexHere is a simple breakdown of how to open an offshore forex account for US-based users, including legal requirements.
EntrepreneurshipA brief overview of the top apps that help forex traders with on time information, charts and more.
Investing BasicsVirtual currency is probably here to stay, but what about Bitcoin specifically? Does it have a first-to-market advantage? What are the risks involved?
Forex NewsWhen it comes to forex, some types of "fixes" are legal. But some really aren't.
- No results found.