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USDCHF H4 - Long Trade SetupUSDCHF H4 Starting the week with pairs carried forward from last week, if it's not broken, don't fix it! 0.89030 was test earlier on this morning, eyes peeled for that 0.89 test again now we have a little better market volume and a good stint ahead of us. USDCHF pulled up last week towards the latter part of the week, but then pulled back downside off the back of the worse than expected Michigan Consumer Sentiment Index figures. We also fought off worse than expected inflation data on the Wednesday too, yet we are still sitting on our S/R and 0.89 handle. Looking for potential longs again this week.
Long
by Trade_Simple_FX
EUR/USD clean and simple buy (150 pips)...Euro has managed to sustain momentum through 1.2050 and 1.2100 to surpass the 21 DMA just beyond the round number to expose 1.2150 and the 50 DMA around 1.2156. Further upside excepted. The Dollar has fallen further from best levels, and almost across the board on a mixture of fundamental and technical factors, including more retracement and reconvergence in yield spreads that had been favouring US Treasuries, even loftier record peaks on Wall Street and further progress towards fiscal relief. Meanwhile, crude and fellow commodities are also applying greater downside pressure on the Greenback and G10 counterparts have either scaled or are testing key chart and sentimental levels. Hence, the DXY is now struggling to stay above 90.500 between 90.963-502 parameters compared to Monday’s 91.288 high.
Long
by FTUKcom
12
EUR/JPY set for more upside movements...EUR/JPY set for more upside movements to come over the remaining part of this week. It’s a close call, but in terms of magnitude and sheer speed of movement, the USD/JPY resurgence from 105.77 at one stage last Friday to circa 104.54 (and counting) so far today is perhaps most eye-catching, especially when set against the Nikkei’s potenital ongoing rally and close just above 29.5k. However, from a chart perspective alone, the 2nd successive close below the DMA (now 105.54) was bearish for USD/JPY and the loss of 105.00+ status would have tripped stops set by short term longs and intraday jobbers looking for a rebound. Similarly, the Euro has managed to sustain momentum through 1.2050 and 1.2100 to surpass the 21 DMA just beyond the round number to expose 1.2150 and the 50 DMA around 1.2156, while the Franc has rebounded from sub-0.9000 to 0.8950+. I am now looking for over 200 pips north towards 129.00. Let's see how much bullish pressure will come from BOJ's offer to buy JPY 400bln in 1yr-3yr JGBs.
Long
by FTUKcom
5
The Greenback is grinding higher after extending its post-NFP...The Greenback is grinding higher after extending its post-NFP retreat to 90.966 in index terms, and it seems like an even more pronounced reversal in US Treasuries and several more specific technical factors have helped the Buck to stop the rot. 10 year cash has touched 1.2% again, while the 30 yield is probing the psychological 2% level to lift the Dollar off lows and DXY back above 91.000 at 91.216, as certain Usd/G10 pairs test or breach key chart and significant levels. However, the Greenback also appears to be benefiting from waning risk appetite and signs that stocks are getting a bit twitchy about the rise in long term rates and bear steepening.
by FTUKcom
4