[B]EUR CHF[/B]
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It seems like my signal providers are trading usdchf more frequently and I see you have posts on the usdchf. Are there any major concerns that the chf will remove its peg to the eur and skyrocket compared to other pairs?
In today’s Asian trading, the dollar is stable in tandem with the Swiss franc. The confidence of investors in raising the interest rates of the Federal Reserve System (FRS) in March strengthened after the January meeting.
The Swiss franc has fallen in price: USD / CHF fell by 0.24% to 0.9330.
The dollar/franc continued its upward movement yesterday, as I expected, making a peak at 0.9453. Trade signals remain elevated, especially if the price is able to make a clear break above 0.9465 to test resistance 0.9535 - 0.9590 as part of the bullish scenario of the false breakthrough (below 0.9288). Support for the day we have at 0.9400, whose breakthrough will take the price to a neutral zone with testing at 0.9375/50. I remain neutral.
On Friday, the US dollar moved to growth against other major currencies after the US Congress voted for an agreement on the parameters of the federal budget for the next two years, ending a short suspension of the government.
The Swiss franc changed insignificantly: the pair USD/CHF was traded around 0.9365.
The US dollar recorded a positive session against the Swiss franc on Friday. The currency pair opened at 0.9219 and the price managed to break the first resistance at 0.9250. Graphics continued to grow below moving averages, while the relative strength index remained neutral. The pair ended at 0.9276, and in case the price continued to rise, the dollar would head to the first resistance at 0.9450.
The dollar/franc was also indecisive yesterday. Expectations are neutral for now. The first resistance is seen at 0.9319 (yesterday’s peak). A clear breakthrough and daily closure over it can lead to further upward pressure for testing 0.9375. Daily support is 0.9250. A clear breakthrough and daily closure below this level may cause downward pressure testing of support 0.9185 - 0.9150.
The dollar/franc was hesitant yesterday. Price made an attempt to decrease, reaching bottom at 0.9324, but closed higher at 0.9378. Expectations are neutral, probably with light bullish signals in the near future. The pair is still caught in the range between 0.9465 - 0.9250 and a clear breakthrough is needed for a clearer direction. The best trading plan in this situation, I think, is to sell around 0.9465 or to buy in the 0.9250 area with tight stops. I’m basically neutral.
The dollar / franc had a significant upward momentum yesterday, sliding over the range and hitting 0.9533 earlier this morning. Expectations remain up for testing for 0.9580 - 0.9650. The closest support is at 0.9465. A clear break back below this level may take the price to a neutral trading area, and the direction will become unclear.
The dollar / franc had a bearish momentum yesterday and is now fighting around support at 0.9465. The upside scenario should remain intact at least until we have a convincing break below 0.9465. Views are neutral in short terms. Immediate support is 0.9458 (yesterday’s bottom), the breakthrough can cause future downward pressure to test at 0.9420 / 00 or lower. Intrade resistance is 0.9510. A clear break above this level may lead to an upward pressure on the testing of 0.9580 - 0.9650.
The dollar / franc was hesitant yesterday. Expectations remain downward in the near future for testing the lower boundary of the upward channel and support 0.9420. A clear breakthrough and daily closure under the bullish channel will take the price down for re-testing at 0.9250. The closest resistance is at 0.9480, whose breakthrough will take the price to a neutral zone, but will keep the upward phase in effect for testing at 0.9580 - 0.9650.
The dollar / franc was indecisive yesterday, but still makes lower tops and bottoms on daily chart after sampled below the upward channel. Expectations are downward in short terms for testing 0.9400. The first resistance is at 0.9488, whose breakthrough can take the price to a neutral trading area, and the direction will become obscure. Downwards, a clear break and daily closure below 0.9400 will clear the path to 0.9350 or lower. Basically, I remain neutral.
The dollar / franc continued its bullish momentum yesterday, making a peak at 0.9723. The signals remain bullish for the 0.9765 test, as part of the bullish scenario after breaking over the top line of the ascending wedge. Clear break and daily / weekly closing over 0.9765 will clear the way to 0.9850 or higher next week. The closest support is 0.9650, which breakthrough can take the price to a neutral zone, the direction will become obscure.
USD / CHF
Key levels to watch for:
Support: 0.9645; 0.9578;
Resistance: 0.9667; 0.9699; 0.9735;
The dollar / franc continued its bullish momentum yesterday, reaching peak at 0.9847. The trading signals remain upward in the near future for the 0.9950 test as part of the bullish scenario following the breakthrough on the upward wedge and the daily EMA 200. The closest support is 0.9800. A clear breakthrough below this level could take the price to a neutral zone for testing 0.9765. Overall, I still prefer the bullish scenario and any downward pressure should be seen as a good opportunity for purchases.