To receive Ilya's analysis directly via email, please SIGN UP HERE
- USD/CHF Technical Strategy: Flat
- Support:0.8908, 0.8861, 0.8830
- Resistance: 0.8957, 0.9000, 0.9036
The US Dollar seems to have run out of steam against the Swiss Franc after meeting resistance below the 0.90 figure. A pair of Shooting Star candlesticks hints at ebbing upside momentum and warns a pullback may be ahead. Near-term support is at 0.8908, the 38.2% Fibonacci retracement, with a daily close below that exposing the 0.8861-69 area marked by the 50% level and the April 22 high. Alternatively, a reversal above the 23.6% Fibat 0.8957 clears the way for a test of the targeting the 0.90 threshold and the June 5 high at 0.9036.
Shooting Star candles signal indecision and confirmation is needed to make for an actionable trade signal. Furthermore, we see the overall USD/CHF trend as broadly bullish. As such, we will look for any on-coming decline as chance to look for buying opportunities.
Add these technical levels directly to your charts with our Support/Resistance Wizard app!
Daily Chart - Created Using FXCM Marketscope 2.0
ForexAmid the rising economic power of India, the talks of making the Indian currency fully convertible are gaining momentum. We look at the pros and cons.
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?
- No results found.