EUR/USD 1.13692
-0.003%
Gold 4033.20
0.164%
Oil 71.305
-0.027%
USD/JPY 161.769
-0.017%
GBP/USD 1.31910
0.006%
GBP/JPY 213.398
0.003%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Chicago Fed President Goolsby, a 2027 FOMC voting member, will speak in ten minutes.NetEase-S (09999.HK): It has chosen to become a dual major listed company on the Hong Kong Stock Exchange from June 30, 2026, and the stock symbol "S" will be removed from its stock short name on the effective date of the Hong Kong major listing.June 26 - According to a statement released by the Chinese Embassy in Venezuela, as of 4 p.m. local time on June 25, preliminary statistics indicate that two Chinese citizens have been confirmed dead in the "June 24 earthquake".On June 26th, according to Japanese sources on the 24th, Japanese Prime Minister Sanae Takaichi accepted suggestions from the ruling Liberal Democratic Party (LDP) and the Japan Innovation Party regarding revisions to the "Three Security Documents." The Japanese government plans to formally revise the "Three Security Documents" through a cabinet meeting by the end of this year, and is expected to propose a policy of increasing defense spending, following the LDPs stance. While the LDP did not specify a concrete figure for Japans defense spending, it cited NATO member states aiming for 3.5% of GDP as a benchmark, requesting further research based on these examples. The Japan Innovation Party, on the other hand, demanded that the spending reach "more than 2%" of GDP by 2026. Furthermore, regarding the clause in the "Three Non-Nuclear Principles" against the introduction of nuclear weapons, the Japan Innovation Party stated that "a realistic discussion should be conducted," mentioning revisions and calling for the swift introduction of nuclear submarines.According to AXIOS: U.S. House Speaker Boris Johnson said he will submit the housing bill to the White House after meeting with Trump.

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