EUR/USD 1.16736
-0.028%
Gold 4520.62
-0.049%
Oil 86.597
2.798%
USD/JPY 159.126
0.617%
GBP/USD 1.36234
0.133%
GBP/JPY 216.790
0.764%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
August 21st - As of 2:30 PM closing, the Shanghai Gold futures contract rose 1.03% to 980 yuan/gram, the Shanghai Silver futures contract rose 2.97% to 16,589 yuan/kilogram, and the SC Crude Oil futures contract rose 1.11% to 591 yuan/barrel.August 21 – The Trump administration authorized the early sale of winter gasoline, the latest move to alleviate fuel cost increases and supply concerns stemming from the Iran war. The U.S. Environmental Protection Agency (EPA) announced Thursday that it will relax summer gasoline standards, allowing the market to use higher-emission winter gasoline blends earlier. Traditionally, the transition to a blend doesnt happen until mid-September. This exemption allows the sale of gasoline blended with 10% ethanol starting September 1. The U.S. government stated that this move effectively ends summer gasoline blending requirements early, potentially increasing domestic gasoline supply by hundreds of thousands of barrels per day and further easing price pressures on American consumers at gas stations.On August 21, the Iranian Foreign Ministry issued a statement on August 20 strongly condemning the new economic and trade sanctions imposed by the United States on Iran, stating that Iran will use "all tools and capabilities" to safeguard its national interests and the legitimate rights of the Iranian people. The statement said that the US announcement of large-scale economic and trade sanctions against Iran violates the basic human rights of Iranian citizens and is a manifestation of "economic terrorism" and "crimes against humanity"; it violates the principle of respecting national sovereignty and tramples on basic norms of international law. The statement said that these sanctions were implemented after the US and Israels war against Iran failed to achieve its objectives and are intended to force the Iranian people to submit. This move cannot shake the Iranian peoples determination to safeguard their national independence, dignity, and sovereignty. The statement believes that sanctions and economic pressure are "the other side of the coin of war and military aggression." The statement said that the US announcement of new sanctions is a continuation of a "tested and failed" policy, and repeating this policy will only lead to repeating past mistakes. Iran will rely on its own capabilities and its decades of experience in dealing with US pressure policies, using "all tools and capabilities" to safeguard its national interests and the legitimate rights of the Iranian people.On August 21, U.S. Treasury Secretary Matt Bessenter stated on the 20th that the Trump administration would increase economic pressure on Iran and threatened to implement "unprecedented economic isolation" measures against the country. In an interview with NBC News that day, Bessenter said, "This will be the largest and most coordinated economic isolation in history." He indicated that a press conference on the 24th would detail the specific actions. Bessenter also addressed all U.S. allies, saying, "We are going to overthrow this regime," and warned that they must either stand with the United States or oppose it. Bessenter claimed that the Trump administrations plan to severely damage the Iranian economy might eliminate the need for a large-scale military operation against Iran.August 21 - The China Earthquake Networks Center automatically determined that an earthquake of approximately magnitude 6.5 occurred near Peru (14.68°S, 73.62°W) at 2:00 AM on August 21. The final result is subject to the official rapid report.

The chances of a bearish reversal for the USD/CHF rise as bears test the 200-EMA

Daniel Rogers

Jul 19, 2022 11:59

 截屏2022-07-19 上午10.03.58.png

 

The USD/CHF pair has gone sideways after exhibiting volatile volatility on Monday. The asset will likely trade sideways until volatility decreases since it hits resistance at 0.9780. As a result of failing to exceed the crucial resistance level of 0.09000, the asset saw a substantial fall.

 

A major negative reversal was foreseen by the formation of the Double Top chart pattern when the price failed to maintain its position above Tuesday's high at 0.9859. The aforementioned chart pattern frequently indicates waning demand at high levels. A negative reversal is now more likely as a result of the development of a selling tail around high levels.

 

Following the formation of a double top, the asset is forming an initiative selling structure, which points to the entry of those investors who start short positions after a bearish bias has been created. At 0.9767, the major is forming an initiative structure inside the 200-Exponential Moving Average (EMA) border, demonstrating that market participants are respecting the significant EMA.

 

However, the Relative Strength Index (RSI) (14), which signals an oncoming consolidation, has shifted into a range between 40.00 and 60.00. The asset will reach the July 5 top of 0.9705 with a sharp decrease below the July 13 low of 0.9758. If the latter barrier is breached, the asset will be more vulnerable to losses up to the 1. July high of 0.9642.

 

Alternatively, following Wednesday's violation of the 0.9827 high, the dollar bulls may defend the double top pattern. The asset will be propelled by this to its top on Thursday of 0.9886 and then encounter psychological resistance at 1.0000.


Suggestion