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Forex: USD/CHF testing the 0.9180 resistance

The USD/CHF has recently eased during European trading in recent minutes, falling over 10 pips off its session high of 0.9187 to trade presently at 0.9174/75 at the time of writing. Earlier today in Switzerland, the Producer and Import Prices (YoY and MoM) were reported at +0.8% in January (against expectations of +1.1%) and +0.1% in January (in line with projections) respectively.

“The gains from the USD/CHF stalled at 0.9213, capped by daily Ichimoku cloud base – a subsequent reversal returned to near-term range floor at 0.9150 that so far contained dip, along with the 55-day EMA. Moreover, negative hourly structure keeps the downside at risk, with 4h chart indicators losing momentum.” warns Slobodan Drvenica, an analyst at Windsor Brokers Ltd.

After climbing back into positive territory to the tune of a +0.05% gain, Slobodan Drvenica suggests the cross will be stymied by resistances at 0.9180, up towards 0.9200 (key barrier), and finally 0.9213. On the downside, the USD/CHF will encounter means of calculated support at 0.9150, then 0.9115, and finally the 0.9100 handle.

Forex Flash: Upward revision in BoE inflation outlook expected – TD Securities

TD Securities analysts expect to see another upward revision to the Bank’s inflation forecasts at 10:30 GMT, as the Bank of England’s Quarterly Inflation Report is released.
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Forex Flash: Bunds consolidate as 200-day MA in focus – RBS

According to Technical Markets Strategist Dmytro Bondar at RBS, “Bunds formed a reversal candlestick pattern, suggesting it might test the 142.18 support before launching an assault on 200-day MA. A bearish gap closure and a break of resistance region of 143.00 suggested the price would be likely to see further recovery to 143.20/30 (200-day MA) onto 143.70 after correction is over.”
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