No Result
View All Result
Markets
EUR/USD GBP/USD USD/JPY AUD/USD NZD/USD XAU/USD
Central Banks
FED ECB BoE BoC BoJ SNB RBA RBNZ
Brokers
Wire Transfer Visa/Mastercard Paypal Fasapay Skrill Bitcoin
FCA Cysec CFTC NFA FSA
Forex Guide
Beginners Basics Technicals Fundamentals
Education
Forex Articles Forex School Forex Terms
Forex Strategies
5 Minutes 15 Minutes 30 Minutes 1 Hours 4 Hours Daily
Resources
Indicators Forex Ebooks MT4 MT5
Trading Tools
Live Charts Economic Calendar Fibonacci Calc Pivot Points
Mira FX
  • Markets
  • Education
  • Central Banks
  • Resources
    • Ebooks
    • Indicators
      • MT4 Indicators
      • MT5 Indicators
  • Brokers
    • Deposit Bonuses
    • No-Deposit
    • Demo Contest
    • Live Contest
    • Brokers News
  • Tools
  • Login
  • Deposit Bonuses
  • No-Deposit Bonuses
  • Demo Contest
  • Live Contest
  • Brokers News
  • Brokers
Mira FX
  • Markets
  • Education
  • Central Banks
  • Resources
    • Ebooks
    • Indicators
      • MT4 Indicators
      • MT5 Indicators
  • Brokers
    • Deposit Bonuses
    • No-Deposit
    • Demo Contest
    • Live Contest
    • Brokers News
  • Tools
Mira FX
  • Markets
  • Education
  • Central Banks
  • Resources
  • Brokers
  • Tools
  Latest
Differences between the Foreign Exchange Market and Stock Market May 23, 2022
Next
Prev

CHF getting exciting

News Feed by News Feed
May 18, 2021
in Analysis, Forex News
Reading Time: 2 mins read

USD/CHF eyes cycle lows and a break beyond?

USD/CHF has been in something of a textbook downward channel since topping out on April Fool’s day at 0.9472. This peak has retraced from the down trendline from the high in May 2019 and we’ve seen a series of lower highs and lower lows in play in a neat bearish channel. Sellers are winning the day at the moment with the latest pulback being capped by both the 100-day and 200-day SMA around 0.9078/82 which resided near the top of the channel.

Last week’s low at 0.8985 is the first target for the bears which lies around support from last Summer before the February low at 0.8871. As oversold conditions have eased and bearish momentum is picking up, the long-term target is the year-to-date low at 0.8757. Resistance sits outside the channel and above last week’s high at 0.9094 for stops if there is a major reversal in the long-term trend.

EUR/CHF at decision time

This cross isn’t known for its volatility but currently sits at an interesting juncture. The 50% retrace level of the April 2019 to May 2020 move sits at 1.0990 which acted as resistance at the back end of last week. With buyers rebuffed, the pair has fallen to the 100-day SMA which is holding up any more bearish price action so far at 1.0938. If sellers win out and beat next support at last week’s low at 1.0926, then 1.09 may quickly come into view with December’s high at 1.0892.

On the flip side, further confidence in the global recovery will see EUR/CHF pushing higher and challenging the retracement level just below 1.10. Indeed, if EUR/USD stays supported then the bulls could push the pair to 1.11 and near this year’s highs.


Source

Tags: CHFEUR/CHFMoneta MarketsUSD/CHF
ShareTweetShareSendShareSend

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Advertisement

Latest

Forex Trading Articles

Differences between the Foreign Exchange Market and Stock Market

DAVID G - May 23 | BASIC

Why Leverage is Important for Forex Traders?

Joana N - May 23 | Basic

How To Install Metatrader 5 Custom Indicators

MIRA TEAM - May 9 | Basic

Gross Domestic Product, First Quarter 2022

APR 28, 2022 | USD

The pound reacts to rising inflation like EM currency

Apr 13, 2022 | GBP/USD

NZD falls despite RBNZ rate hike

Apr 13, 2022 | NZD, RBNZ
Advertisement
  • About
  • Advertising
  • Disclaimer
  • Contact
  • Privacy Policy
  • Terms & Conditions
Risk Warning: All information on this website, including any opinions, articles, charts, prices, news, data, Buy/Sell signals, reviews, research and analysis is provided as general market commentary and does not constitute any investment advice. Mira FX is not liable for any damage or loss, including but not limited to, any loss of investment, which may be based either directly orindirectly on the use of or reliance on such information. Before deciding whether or not to take part in foreign exchange or financial markets or any other type of financial instrument, please carefully consider your investment objectives, level of experience and risk appetite. Do not invest more money than you can afford to lose. Note that the high level of leverage in forex trading may work against you as well as for you. Please seek advice of an independent financial advisor if you are not fully aware about the risks associated with foreign exchange trading. Forex trading on margin involves considerable exposure to high risk, and may not be suitable for all investors. Mira FX does not endorse any companies, products or services which are represented on Mira-FX.com The information on this website is subject to change without notice.
No Result
View All Result
  • About
  • Advertising
  • Central Banks
  • Contact
  • Disclaimer
  • Forex Brokers
    • Regulator
  • Index
    • Daily Forex Strategy
    • Forex Ebooks | Language: English
    • H1 Forex Strategy
    • H4 Forex Strategy
    • M15 Forex Strategy
    • M30 Forex Strategy
    • M5 Forex Strategy
  • Markets
    • EUR/JPY
  • Mira FX
  • Privacy Policy
  • Terms & Conditions
  • Tools
    • Economic Calendar
    • Fibonacci Retracement Calculator
    • Live Charts
    • Pivot Point Calculator

© 2022 Mira FX | Copying of materials is allowed only with the presence of an active link to a source page.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In