EUR/USD 1.18991
-0.113%
Gold 5023.33
-0.689%
Oil 63.815
-0.720%
USD/JPY 154.270
-1.036%
GBP/USD 1.36593
-0.265%
GBP/JPY 210.726
-1.286%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Market news: Joe Ward, Teslas (TSLA.O) Vice President of Business in Europe, the Middle East and Africa (EMEA), will lead the companys sales, service and delivery divisions.Cleveland Fed President Hammark, a 2026 FOMC voting member, will speak in ten minutes; the EIA will release its monthly Short-Term Energy Outlook report in ten minutes.The German DAX 30 index closed down 1.37 points, or 0.01%, at 25,003.37 on Tuesday, February 10th; the UK FTSE 100 index closed down 32.01 points, or 0.31%, at 10,354.22 on Tuesday, February 10th; the French CAC 40 index closed up 4.60 points, or 0.06%, at 8,327.88 on Tuesday, February 10th; European... The Stoxx 50 index closed down 10.85 points, or 0.18%, at 6048.16 on Tuesday, February 10; the Spanish IBEX 35 index closed down 70.89 points, or 0.39%, at 18124.21 on Tuesday, February 10; and the Italian FTSE MIB index closed down 26.31 points, or 0.06%, at 46796.50 on Tuesday, February 10.According to sources, Venezuela has resumed oil exports to Israel after Maduros overthrow, and has shipped its first shipment of crude oil to Israel.On February 11th, Michael Pfister of Commerzbank stated in a report that the European Central Bank (ECB) may struggle to address the recent strength of the euro, as the factors driving this trend are beyond its control. Since hitting a low in August 2022, the euro has appreciated by over 15% on a trade-weighted basis, but this largely reflects the weakness of other currencies. The euro often benefits when other currencies face political crises, but this is detrimental to eurozone exports. ECB officials also emphasized that the euros appreciation is primarily expected to occur in the first quarter of 2025, when Germany announces its fiscal plan and the dollar weakens significantly. Pfister stated that the ECB is only likely to react more strongly if the euros appreciation becomes more pronounced.

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