Category Archives: USDCHF

Market Forecast 25/10/2017

EUR/GBP is eyeing further gains above 0.8975 and USD/CHF remains in a major uptrend above the 0.9875 support level.

EUR/GBP Forecast – Euro Eyeing Further Gains

Key Points

  • The Euro after forming a base around the 0.8880 level against the British Pound started an upside move.
  • There was a break above a short-term bearish trend line with resistance at 0.8890 on the hourly chart of the EUR/GBP pair.
  • Today in the Euro Zone, the German business sentiment index for Oct 2017 was released by the CESifo Group.
  • The forecast was 115.2, but there was an increase from the last revised reading of 115.3 to 116.7.

EURGBPH1.png

The Euro after finding bids near the 0.8880 support against the British Pound started an upside move. The EUR/GBP pair made good ground and was able to break the 0.8920 resistance.

The pair also managed to move above the 50% Fib retracement level of the last decline from the 0.9021 high to 0.8885 low. Moreover, the pair succeeded in clearing a short-term bearish trend line with resistance at 0.8890 on the hourly chart.

At the moment, the pair is trading near another trend line at 0.8965. The trend line resistance is also close to the 61.8% Fib retracement level of the last decline from the 0.9021 high to 0.8885 low.

Therefore, there can be a downside reaction from 0.8970 back towards the 0.8930-20 support area. However, the overall trend is bullish for EUR/GBP as long as the pair is above 0.8920.

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German Business Climate Index

Today in the Euro Zone, the German business sentiment index for Oct 2017 was released by the CESifo Group. The forecast was slated for no change in the index from the last reading of 115.2.

However, the actual result was above the forecast, as there was an increase in the index to 116.7. The last reading was also revised up from 115.2 to 115.3. The German IFO Current Assessment also posted an increase from the last revised reading of 123.7 to 124.8, whereas the market was looking for 123.5.

The overall result was positive, which could push the EUR/GBP pair higher towards the 0.9000 handle in the near term.

 

USD/CHF Forecast – US Dollar Remains in Uptrend

Key Points

  • The US Dollar remains in a solid uptrend and looking for more gains above the 0.9915 level against the Swiss Franc.
  • There is a major ascending channel forming with support at 0.9880 on the hourly chart of the USD/CHF pair.

USDCHFH1.png

The US Dollar gained a lot of momentum recently from the 0.9740 swing low against the Swiss Franc. The USD/CHF pair traded higher and broke the 0.9850 and 0.9900 resistance levels.

The upside move was strong, and the pair is currently following a major ascending channel with support at 0.9880 on the hourly chart. At present, the pair is trading near the channel resistance at 0.9920 and looking for more gains.

Once there is a break above 0.9920, the next stop could be 0.9950. On the downside, the 0.9900 and 0.9880 levels are decent supports and can be considered as buy levels.

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Market Forecast 16/10/2017

EUR/GBP remains in a bearish trend below 0.8940 and USD/CHF is attempting an upside break above the 0.9770 resistance.

EUR/GBP Forecast – Euro Remains in Downtrend

Key Points

  • The Euro started a new downtrend from the 0.9030 swing high against the British Pound.
  • There is a declining channel forming with resistance at 0.8880 on the hourly chart of the EUR/GBP pair.
  • Today in the Euro Zone, the German wholesale price Index for Sep 2017 was released by the Statistisches Bundesamt Deutschland.
  • The forecast was +0.4%, but there was an increase of 0.6% (MoM) in the WPI.

EURGBPH1.png

The Euro after a steady uptrend found sellers above the 0.9020 level against the British Pound. The EUR/GBP pair started a downside move and traded below the 0.8950 and 0.8900 support levels.

The pair even traded below the 0.8880 support level and settled below the 100 hourly simple moving average. A low was formed recently at 0.8855 and the pair is currently correcting higher.

An initial resistance is around the 23.6% Fib retracement level of the last decline from the 0.8929 high to 0.8855 low. Moreover, there is a declining channel forming with resistance at 0.8880 on the hourly chart.

Any major correction from the current levels towards 0.8880 or the 50% Fib retracement level of the last decline from the 0.8929 high to 0.8855 low will most likely face sellers in the near term.

 

German Wholesale Price Index

Today in the Euro Zone, the German wholesale price Index for Sep 2017 was released by the Statistisches Bundesamt Deutschland. The forecast was slated for a rise of 0.4% in the WPI compared with the previous month.

However, the actual result was above the forecast, as there was an increase of 0.6% in the WPI in Sep 2017. In terms of the yearly change, the market was looking for the WPI to increase by 3.2%. The actual was better, as there was a rise of 3.4%.

The overall result was positive, which could help the EUR/GBP pair in correcting towards the 0.8880 resistance area.

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USD/CHF Forecast – US Dollar Attempting Upside Break

Key Points

  • The US Dollar was under a lot of pressure recently and traded below 0.9720 against the Swiss Franc.
  • There is a bearish trend with resistance at 0.9765 on the hourly chart of the USD/CHF pair, which is preventing a recovery.

 

USDCHFH1.png

The US Dollar remained in a downtrend and traded towards the 0.9700 handle against the Swiss Franc. The USD/CHF pair traded as low as 0.9704 and later started an upside move.

It managed to move above the 0.9720 resistance and the 100 hourly simple moving average. However, a bearish trend with resistance at 0.9765 on the hourly chart is preventing further gains.

On the downside, the 38.2% Fib retracement level of the last wave from the 0.9704 low to 0.9768 high at 0.9743 and the 100 hourly simple moving average are important supports.

As long as the pair is above the 100 hourly SMA, it might break 0.9770 for more gains in the near term.

 

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Market Forecast 29/09/2017

The USD/CHF pair is attempting a downside break below 0.9700, and Gold is about to break a major resistance area at $1290.

USD/CHF Forecast – US Dollar Attempting Downside Break

Key Points

  • The US Dollar after trading towards 0.9770 found sellers against the Swiss Franc, and moved down.
  • The USD/CHF pair is currently attempting a break of a triangle pattern with support at 0.9705 on the hourly chart.
  • Today in Switzerland, the KOF Swiss Leading Indicator for Sept 2017 was released.
  • The forecast was slated for 105.5, but the actual was better as there was a rise from the last revised 104.2 to 105.8.

 

USDCHFH1.png

The US Dollar made good ground this week and traded above the 0.9750 level against the Swiss Franc. The USD/CHF pair traded as high as 0.9768 before starting a downside correction.

The pair moved lower and broke the 38.2% Fib retracement level of the last wave from the 0.9641 low to 0.9768 high. It has opened the doors for more losses and the pair is currently attempting a break of a triangle pattern with support at 0.9705 on the hourly chart.

If sellers succeed in a close below 0.9700 and the 100 hourly simple moving average, there are chances of more declines in the near term towards 0.9680-0.9660.

 

KOF Swiss Leading Indicator

Today in Switzerland, the KOF Swiss Leading Indicator for Sept 2017 was released by the Swiss Institute for Business Cycle Research. The forecast was slated for a rise from the last reading of 104.1 to 105.5.

However, the actual result was above the forecast, as there was an increase to 105.8. The last reading was also revised up from 104.1 to 104.2. It means that the Barometer is still way above its long-term average.

The report added that “The strongest positive contributions come from the manufacturing sector. The indicators relating to the hotel and catering industry also show a slight upward tendency.”

The overall result was positive and it might push USD/CHF lower towards 0.9680-60 in the near term.

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Gold Price To Break $1290 and Test $1300?

Key Points

  • Gold price declined sharply from the $1313 swing high against the US Dollar.
  • The price found support and recently broke a bearish trend line with resistance at $1281 on the hourly chart.

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Gold price made a short-term top near $1313 against the US Dollar, and started a downside move. It broke a couple of important supports like $1310 and $1300 during the downside move.

Sellers even succeeded in clearing the $1280 support and a low was formed at $1277.76. Later, the price started a recovery and moved above a bearish trend line with resistance at $1281 on the hourly chart.

The price recently broke the 23.6% Fib retracement level of the last decline from the $1313 high to $1277 low. At the moment, buyers are attempting a break of another important resistance near $1290.

Once they succeed, there is a chance of an upside move towards the next resistance at $1300 in the short term. An intermediate resistance is near $1394 and the 100 hourly simple moving average. On the downside, the $1280 is a major support and buy zone.

 

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The information above cannot be a taken as an investment advice and FXPMarkets will not be held liable for any losses that may occur by using the provided above information.

For more information on risks, please read our General Risk Disclosure.

Market Forecast 20/09/2017

EUR/GBP likely completed a correction and would resume its downtrend below 0.8880. USD/CHF is under pressure and approaching a short term break below 0.9600.

EUR/GBP Forecast – Euro To Resume its Downtrend

Key Points

  • The Euro has started a major downside move and is currently trading below the 0.8900 handle against the British Pound.
  • There is a crucial bearish trend line forming with resistance at 0.8890 on the hourly chart of the EUR/GBP pair.
  • Today in the UK, the Retail Sales for August 2017 was released by the National Statistics.
  • The forecast was +0.2%, but there was an increase of 1% (MoM) in the Retail Sales.

EURGBPH1 (5)

The Euro is under a lot of pressure and already broke the 0.8950 support against the British Pound. The EUR/GBP pair after trading as low as 0.8777 started a recovery, but upsides were capped by 0.8900.

The pair failed to break the 50% Fib retracement level of the last decline from the 0.9039 high to 0.8777 low, the 100 hourly simple moving average and a crucial bearish trend line with resistance at 0.8890 on the hourly chart.

The pair is once again moving down and broke a bullish trend line with support at 0.8877.  The overall trend is still bearish and any rallies towards 0.8880 can be considered as selling opportunity in the short term.

 

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UK’s Retail Sales

Today, the UK saw the release of the Retail Sales for August 2017 by the National Statistics. The forecast was slated for a rise of 0.2% in sales compared with the previous month.

However, the actual result was above the forecast, as there was an increase of 1% in the Retail Sales in August 2017. In terms of the yearly change, the market was looking for the sales to increase by 1.1%. The actual was better, as there was a rise of 2.4% in sales.

The Core Retail Sales was aligned for a rise of 0.2% in sales compared with the previous month, but it came in at 1%, more than the last 0.7%.

The overall result was positive, and it is most likely to weigh on EUR/GBP for declines towards 0.8810 in the near term.

 

USD/CHF Forecast – US Dollar at Risk of Further Declines

Key Points

  • The US Dollar after trading towards 0.9565 against the Swiss Franc started an upside move.
  • At present, the pair is attempting to break an ascending channel support at 0.9600 on the hourly chart of the USD/CHF pair.

USDCHFH1 (5)

The US Dollar started a recovery after trading as low as 0.9564 against the Swiss Franc. The USD/CHF pair traded higher and moved above the 38.2% Fib retracement level of the last decline from the 0.9702 high to 0.9564 low.

The recovery was initiated with an ascending channel with support at 0.9600 on the hourly chart. The pair tested the 61.8% Fib retracement level of the last decline from the 0.9702 high to 0.9564 low, failed to break and traded below the 100 hourly simple moving average.

At the moment, the pair is attempting a downside break below 0.9600 and if it succeeds, it could trade back towards the 0.9580 or even 0.9565.

 

 

Risk Disclosure: By trading a leveraged product your capital is at risk.

The information above cannot be a taken as an investment advice and FXPMarkets will not be held liable for any losses that may occur by using the provided above information.

For more information on risks, please read our General Risk Disclosure.

Market Forecast 11/09/2017

EUR/GBP Forecast – Euro To Retest 0.9080 Vs Pound?

Key Points

  • The Euro after an impressive bullish run towards the 0.9300 level against the British Pound found sellers.
  • There are two bearish trend lines positioned on the upside at 0.9175 on the hourly chart of the EUR/GBP pair.
  • Today in the Euro Zone, the Italian Industrial Output report for July 2017 was released by the National Institute of Statistics.
  • The forecast was -0.3%, but there was an increase of 0.1% (MoM) in the Industrial Output.

EURGBPH1 (4)

The Euro was in a solid uptrend and even moved towards 0.9300 against the British Pound this past week. Later, the EUR/GBP pair struggled to retain the bullish bias and started a major correction below 0.9250.

The pair traded below the 0.9250 and 0.9150 support levels to initiate a sustained correction. A new weekly low was formed recently at 0.9094 from there the pair is correcting higher. An initial resistance is near the 23.6% Fib retracement level of the last decline from the 0.9201 high to 0.9094 low.

The next major resistance is near 0.9150 and the 100 hourly simple moving average. The stated 0.9150 resistance is also near the 50% Fib retracement level of the last decline from the 0.9201 high to 0.9094 low.

Further above 0.9150, there are two bearish trend lines positioned on the upside at 0.9175 on the hourly chart.

Overall, there are many hurdles on the upside starting 0.9120 up to 0.9175. On the downside, the pair could test 0.9080 in the near term.

 

Italian Industrial Output

Today, the Euro Zone saw the release of Italian Industrial Output report for July 2017 by the National Institute of Statistics. The forecast was slated for a decline of 0.3% in the output compared with the previous month.

However, the actual result was above the forecast, as there was an increase of 0.1% in the output in July 2017. In terms of the yearly change, the market was looking for an increase of 3.8%. Again, the actual was positive, as there was a rise of 4.4% in the output. Although, it was less compared with the last revised increase of 5.2%.

Finally, looking at the last three months, there was an increase of 1.4% in the Italian Industrial Output.

 

USD/CHF Forecast – US Dollar Remains In Downtrend

Key Points

  • The US Dollar remains in a downtrend from the 0.9650 swing high against the Swiss Franc.
  • There is a major bearish trend line with resistance at 0.9505 forming on the hourly chart of the USD/CHF pair.

USDCHFH1 (4)

The US Dollar after trading above the 0.9600 handle against the Swiss Franc failed to hold gains and started a downside move. The USD/CHF pair traded below the 0.9580 support and the 100 hourly simple moving average to set a short-term downtrend.

The pair recently traded as low as 0.9420 and is currently correcting higher. It has already moved above the 23.6% Fib retracement level of the last decline from the 0.9592 high to 0.9420 low.

However, a major bearish trend line with resistance at 0.9505 on the hourly chart prevented gains along with the 50% Fib retracement level of the last decline from the 0.9592 high to 0.9420 low.

The 100 hourly simple moving average is also near 0.9520 to act as a hurdle for buyers. Overall, as long as the pair is below 0.9520, it could resume its downtrend.

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The information above cannot be a taken as an investment advice and FXPMarkets will not be held liable for any losses that may occur by using the provided above information.

For more information on risks, please read our General Risk Disclosure.

Market Forecast 04/09/2017

AUDUSD – Aussie Dollar Correcting Lower

Key Points

  • The Aussie Dollar traded as high as 0.7992 against the US Dollar before starting a correction.
  • There is a descending channel or we can say a flag pattern with resistance at 0.7960 forming on the hourly chart of the AUD/USD pair.
  • Today in Australia, the TD Securities Inflation for August 2017 was released by The University of Melbourne – Faculty of Economics and Commerce.
  • The outcome was in line with the forecast, as there was a rise of 0.1% (MoM).

AUDUSDH1 (1)

The Aussie Dollar made a nice upside move this past week and traded above the 0.7920 resistance area against the US Dollar. The AUD/USD pair traded as high as 0.7992 before facing offers.

Later, the pair started a correction and moved below the 23.6% Fib retracement level of the last wave from the 0.7870 low to 0.7992 high. At the moment, there is a descending channel or a flag pattern with resistance at 0.7960 forming on the hourly chart.

The recent drop was prevented by the 38.2% Fib retracement level of the last wave from the 0.7870 low to 0.7992 high. On the downside, the 100 hourly simple moving average is near 0.7940, which is a solid support.

So, there is a strong chance of AUD/USD resuming its uptrend via breaking the channel resistance at 0.7960 in the near term.

Australia’s TD Securities Inflation

Today in Australia, the TD Securities Inflation for August 2017 was released by The University of Melbourne – Faculty of Economics and Commerce. The forecast was slated for a rise of 0.1% in the Inflation compared with the previous month.

The actual result was in line with the forecast, as there was an increase of 0.1%. On the other hand, the yearly change in the TD Securities Inflation was 2.6%, down from the last reading of 2.7%.

Moreover, Company Gross Operating Profits report for Q2 2017 was released by the Australian Bureau of Statistics. As per the report, there was a decline of 4.5% in profits, compared with the last increase of 6%.

Overall, the AUD/USD pair may correct further, but remains supported on the downside near 0.7940.

USD/CHF – US Dollar to Extend Declines

Key Points

  • The US Dollar likely made a short-term top near 0.9678 against the Swiss Franc.
  • The USD/CHF pair broke a major bullish trend line at 0.9580 on the hourly chart.

USDCHFH1 (3)

The US Dollar started a nice upside move from the 0.9426 low against the Swiss Franc. The USD/CHF pair traded as high as 0.9678 before carving a short-term top.

The pair has started correcting lower and already moved below the 23.6% Fib retracement level of the last wave from the 0.9426 low to 0.9678 high. Sellers also succeeded in breaking a major bullish trend line at 0.9580 on the hourly chart.

Therefore, there are chances that the pair might extend losses and could even trade towards 0.9500 in the near term. A break below the 50% Fib retracement level of the last wave from the 0.9426 low to 0.9678 high at 0.9552 low is needed for further declines.

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Risk Disclosure: By trading a leveraged product your capital is at risk.

The information above cannot be a taken as an investment advice and FXPMarkets will not be held liable for any losses that may occur by using the provided above information.

For more information on risks, please read our General Risk Disclosure.

Market Forecast 28/08/2017

USD/CHF Forecast

Key Points

  • The US Dollar remains in a super bearish trend and currently trading below the 0.9580 pivot against the Swiss Franc.
  • There is a major bearish trend line forming with resistance at 0.9640 on the hourly chart of USD/CHF.
  • The US Goods Trade Balance for July 2017 posted a trade deficit of $-65B, more than the forecast of $-64.5B.

The US Dollar struggled a lot recently and declined below the 0.9700 and 0.9650 support levels against the Swiss Franc. The USD/CHF pair even traded below the 0.9600 handle and traded as low as 0.9525 recently.

Before the downside, the pair broke a bullish trend line at 0.9630 on the hourly chart. At the moment, the pair is recovering and might test the 23.6% Fib retracement level of the last decline from the 0.9659 high to 0.9525 low.

On the upside, there is a major bearish trend line forming with resistance at 0.9640 on the hourly chart. The trend line is also positioned near the last swing high of 0.9630, the 100 hourly simple moving average and the 76.4% Fib retracement level of the last decline from the 0.9659 high to 0.9525 low.

Selling rallies in the near term towards 0.9600 might be considered.

US Goods Trade Balance

Today in the US, the Goods Trade Balance for July 2017 was released by the US Bureau of Economic Analysis. The forecast was slated for a trade deficit of $-64.5B compared with the last $-64B.

However, the outcome was a bit on the lower side, as there was a trade deficit of $-65B. Exports of goods in July 2017 were down by $1.6 billion to $127.1 billion. Similarly, Imports of goods were down by $0.5 billion less than June 2017 to $192.2 billion.

USDCHFH1 (2)

 

GBP/JPY Forecast

Key Points

  • The British Pound is following a bullish path and trading well above the 140.00 handle against the Japanese Yen.
  • An ascending channel with support at 140.60 is holding the uptrend in the GBP/JPY pair.

The British Pound started a decent upside move from the 139.30 swing low against the Japanese Yen. The GBP/JPY pair gained pace and moved above the 140.00 handle and the 100 hourly simple moving average.

The pair has already breached the 76.4% Fib retracement level of the last decline from the 141.02 high to 139.29 low. Therefore, there are chances of it gaining pace above the 141.10 level.

If buyers remain in control, the 1.236 extension the last decline from the 141.02 high to 139.29 low could be tested. There is also an ascending channel with support at 140.60 forming on the hourly chart. As long as the pair remains in the channel and the 140.50 support, there are chances of further gains in the near term.

The best case scenario could be a test of the 1.618 extension the last decline from the 141.02 high to 139.29 low at 142.09. Buying dips near the channel support can be considered with a stop below the 140.60 support area and targets as 141.40 and 142.00.

GBPJPYH1.png

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Risk Disclosure: By trading a leveraged product your capital is at risk.

The information above cannot be a taken as an investment advice and FXPMarkets will not be held liable for any losses that may occur by using the provided above information.

For more information on risks, please read our General Risk Disclosure.

USDCHF Poised For Further Declines

USDCHFH1 (1)

The US Dollar after struggling to settle above 0.9700 against the Swiss Franc moved down. The USDCHF pair broke a bullish trend line on the hourly chart at 0.9650 and also breached the 100 hourly simple moving average.

The pair is currently following a descending channel with resistance at 0.9660 on the same chart. The pair is likely to extend declines in the near term towards the channel support at 0.9620.
Any further declines could take the pair towards the 0.9600 handle. Overall, selling rallies can be considered as a long as the pair is below 0.9670 and the 100 hourly simple moving average.
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USDCHF Remains In Uptrend

USDCHFH1The US Dollar after trading as low as 0.9552 against the Swiss Franc found support and started an upside move.

The USDCHF pair moved higher and broke the 0.9600 resistance, 100 hourly simple moving average and the 50% Fib level of the last decline from the 0.9732 high to 0.9552 low.

The pair is currently following a decent ascending channel with support at 0.9640 on the hourly chart. As long as the pair is above 0.9640, there is a chance of buyers gaining pace above 0.9690 for further gains.

Buying dips near 0.9640 might be considered with a stop on a close below the channel support trendline.

 

USDCHF Remains as Sell on Rallies  

USDCHFM15

The US Dollar is trading lower against the Swiss Franc and already moved below the 0.9715 support area.

The USDCHF pair is currently finding bids near 0.9695 and currently attempting a correction. On the upside, there is a bearish trend line on the 15-min chart with resistance at 0.9708.

Moreover, the 23.6% Fib retracement level of the last decline from the 0.9742 high to 0.9695 low is also around the trend line resistance to protect gains.

So, if the pair continues to move higher, it is likely to face sellers near 0.9700-10. On the downside, a close below 0.9695 could ignite further losses towards 0.9660.