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Usd-chf

USD/CHF Retreats Amidst Positive US Data and Trade TensionsUSD/CHF Retreats Amidst Positive US Data and Trade Tensions Introduction The USD/CHF currency pair is currently trading lower around 0.8910 during the Asian session on Friday, marking a retreat from its recent winning streak that commenced on Tuesday. This reversal comes despite the pair receiving upward support from robust US job data released on Thursday. In this article, we will dissect the factors contributing to the pair's recent movements and the broader economic landscape. Positive US Job Data One of the key drivers of the recent USD/CHF gains was the release of encouraging US job data. US Initial Jobless Claims as of September 1 dipped to 216K, falling below the expected 234K and the previous reading of 229K. Additionally, US Unit Labor Costs improved to 2.2% in the second quarter, up from the previous figure of 1.6%, a development that was expected to remain steady. The Strength of the US Dollar The recent surge in the strength of the US Dollar (USD) can be attributed to growing investor confidence in a more hawkish stance from the US Federal Reserve (Fed). This optimism is fueled by a consistent stream of positive economic data from the United States, reflecting the country's robust economic health. Market Expectations Market participants are now factoring in the likelihood of a 25 basis point (bps) interest rate hike during the November and December Fed meetings, along with the possibility of maintaining interest rates at elevated levels for an extended duration. These expectations have played a significant role in bolstering the USD's position in recent trading sessions. Trade Tensions and Safe-Haven Appeal Despite the positive economic developments in the US, investor confidence remains tempered by concerns regarding China's deteriorating economic situation and the persistent trade tensions between China and the United States. These factors continue to pose risks to the global economic landscape. In times of uncertainty, the Swiss Franc (CHF) often garners appeal as a traditional safe-haven currency, which could explain the recent resurgence in demand for the CHF. Focus on Upcoming Speeches With no significant economic releases expected to impact the market from either the United States or Switzerland in the near term, traders are likely to keep a close eye on forthcoming speeches from Fed members. These speeches have the potential to provide further insights into the central bank's monetary policy stance and may influence currency market dynamics. Conclusion The USD/CHF currency pair's recent retreat, despite positive US job data, underscores the impact of global economic uncertainties, particularly related to China's economic condition and ongoing trade tensions. While the US Dollar has enjoyed a recent surge in strength due to robust economic indicators and expectations of a more hawkish Fed, the Swiss Franc's safe-haven appeal remains intact. Traders should remain vigilant and adaptable as they navigate a forex landscape influenced by a delicate balance of economic factors and geopolitical tensions.
Long
by FOREXN1
17
USDCHF, Massive Broadening-Wedge, BREAKOUT Incoming, Targets!Hello There! Welcome to my new analysis about USDCHF on the 2-Day Timeframe Perspective. In the recent times, as I have spotted, USDCHF is converting more and more into a determining structure that is setting up a much larger price-action volatility-breakout than already seen before. Therfore, the next finalization-steps need to be confirmed for the major determinations to emerge. Especially once the volume and momentum is aligned into this direction it is going to transform the whole chart-development into a major breakout determination. In this case I have spotted the most important parts of this whole considerations and what to expect in the upcoming times. Formational Structure: As when looking at my chart now USDCHF continued forming this gigantic Descending-Broadening-Wedge-Bottoming-Formation in which it formed a coherent Wave-Count within the structure to continue gradually bouncing within the lower boundary to now aim higher and test the upper boundary for a final breakout. Especially as USDCHF is building up above the 35-EMA this is offering an strong support within this whole structure and is actually forming the structure for the final breakout to emerge. Once the breakout above the upper-boundary emerged as it is seen within my chart this is going to be the first Breakout-Confirmation in a series of further continuation developments. Upcoming Indications and Prospects: Once the initial Breakout-Confirmation has shown up this is going to activate the target-zones as they are marked within this whole formational structure. Once the second Breakout-Confirmation has been validated it is going to increase the odds for the second target to be reached within the schedule and especially with a strong trend-acceleration those targets are likely to be reached faster than setup. The next times will be extremely important here as they are going to determine the final breakout and completion of the whole wedge-formation. According to this further assumptions to consider for the next alignments can be derived. This paramount formation and the upcoming developments are factors why we are keeping USDCHF on the watchlist and re-evaluate the situation once changes in the chart have emerged. In this manner, thank you everybody for watching the analysis, support from your side is greatly appreciated. VP
by VincePrince
2
USDCHF Extremely overbought. Start selling. Sharp correction.The USDCHF pair is seeing a dramatic price surge in September. The pattern post late 2022 is basically very similar to the previous Bear Cycle of 2019-2020. The bottom fractals in particular seem identical and the price is approaching the 0.5 Fibonacci rejection level. Trading Plan: 1. Sell on the current market price and another on the 0.5 Fibonacci level. Targets: 1. 0.8800 (the symmetricl low of May 4th 2023). Tips: 1. The RSI (1d) is overbought, marginally over even 83.50 Overbought Resistance. This RSI Resistance has seen sharp declines after every touch (May 3rd 2018, March 4th 2021, May 11th 2022). That is why start shorting now is advised. Please like, follow and comment!! Notes: Past trading plan:
Short
by TradingBrokersView
USDCHF 24/9/23UC is our last pair for this week, as it stands we have a clear bullish range but as we have said on nearly all of our pairs we do expect the current moves that have ran over the last few weeks, until we actually break out of this trend we will keep following it until it does then we will change our bias and follow price as it moves. Remember to always read order flow and follow what price is showing you instead of trading based on your desired direction. And, as always, stick to your risk and your plan. We'll be closely monitoring market openings and price action throughout the week. If you find this analysis useful, let us know in the comments below and hit the boost button to show your support. Here's to a successful week of trading!
by rosshayes
USDCHF: The top isn't in most likely. 1D MA200 ahead.USDCHF has been rising non-stp since the July 18th bottom on 0.85555 (S1). The 1D outlook is on straight bullish technicals (RSI = 61.656, MACD = 0.005, ADX = 40.729) and as the 1D MA50 has been turned into Support, we expect the rally to peak within the 1D MA200 and the inside LH trendline. That would be as close to the top of the twelve month Channel Down as possible. We will wait until a LH trendline is formed on the 1D RSI, which preceded every sharp selling and was the ideal short signal. Target S1 (TP = 0.85555). Prior idea: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
by InvestingScope
2
USDCHF 10/9/23UC we got a nice tap in to our swing range POI last week which was telling us buy side movements are likely, now from here we are looking to see the high taken, we hit a pretty key level (c-swing poi) from there we closed out for the weekend, from open we are still looking for the high to be ran so keep this in mind as we head into our new week. Remember to always read order flow and follow what price is showing you instead of trading based on your desired direction. And, as always, stick to your risk and your plan. We'll be closely monitoring market openings and price action throughout the week. If you find this analysis useful, let us know in the comments below and hit the boost button to show your support. Here's to a successful week of trading!
by rosshayes
USDCHF Channel Up prevailing for now. Buy the dip.The USDCHF pair broke last week above the 1 year Channel Down and closed above the 1D MA100 (green trend-line) for the first time since November 09 2022. The price action has now completed five 1D candles above the 1D MA100 and the pattern that seems to be prevailing is a Channel Up (blue). With the 1D RSI hit 67.00, almost turning overbought, so our intension is to wait for a Higher Lows (dashed trend-line) pull-back and buy the dip, targeting the 1D MA200 (orange trend-line) at 0.9000. If the price closes a 1D candle below the 1D MA50 (blue trend-line), we will take the loss and turn bearish instead long-term. The target will be 0.83650 representing a -4.73% decline from the 1D MA50, which has taken place another 3 times already within this long-term Channel Down. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
by TradingShot
1
USD/CHF Gains Momentum Amid Positive US Data and Trade Dev...USD/CHF Gains Momentum Amid Positive US Data and Trade Developments Introduction The USD/CHF pair continues its ascent, trading in positive territory for the third consecutive day. A combination of factors, including encouraging US economic data and an extension of tariff exemptions in US-China trade relations, has contributed to the pair's recent momentum. In this article, we'll delve into the key drivers influencing the USD/CHF pair's movement and the potential implications for the future. Positive US Economic Data The USD/CHF pair has seen a boost in recent days, thanks in part to upbeat economic data coming out of the United States. Notably, the Institute for Supply Management (ISM) reported that the US ISM Services Purchasing Managers' Index (PMI) rose to 54.5 in August, surpassing the previous month's reading of 52.7 and beating market expectations of 52.5. This figure represents the highest PMI reading since February, signaling a robust expansion in the US services sector. This positive data has bolstered confidence in the US economy, supporting the strength of the US dollar. US-China Trade Developments Another factor contributing to the USD/CHF pair's performance is the extension of China's "Section 301" tariff exemptions on specific imports until December 31. Originally set to expire on September 30, this extension provides additional time for consideration under a statutory four-year review. This decision indicates a willingness to maintain a more stable trading relationship between the US and China. However, it's worth noting that any renewed trade tensions between the two nations could benefit the safe-haven Swiss Franc (CHF) and pose a headwind for the USD/CHF pair. Swiss Economic Challenges On the other side of the equation, the Swiss Franc (CHF) has faced challenges stemming from downbeat economic data. Switzerland's Gross Domestic Product (GDP) for the second quarter showed stagnation, with a QoQ growth rate of 0.0%, falling below market expectations of 0.1%. The annual growth rate remained at 0.5%, meeting expectations but indicating a lackluster performance. These economic headwinds have weighed on the CHF, making it less attractive in comparison to the strengthening US dollar. Upcoming Data and Conclusion As the week progresses, market participants will closely monitor key US economic releases, including weekly Initial Jobless Claims and Unit Labor Costs for Q2. These figures will likely play a crucial role in shaping the USD/CHF pair's direction. With a dearth of significant economic data releases from Switzerland in the near term, the dynamics of the USD will continue to be the primary driver for the USD/CHF pair. In conclusion, the USD/CHF pair's recent gains can be attributed to positive US economic data and trade developments. However, the pair remains sensitive to shifts in sentiment surrounding US-China relations. As traders await further economic indicators and developments, the USD/CHF pair will continue to navigate these factors in the days ahead. Our preference Long positions above 0.8895 with targets at 0.8945 & 0.8960 in extension.
Long
by FOREXN1
5
USDCHF to unshackle from the corrective channel?USDCHF - 24h expiry Broken out of the channel formation to the upside. Short term bias has turned positive. A later dip lower was met with further buying interest and prices settled higher to post a positive day. A lower correction is expected. We look to buy dips. 20 4hour EMA is at 0.8862. We look to Buy at 0.8862 (stop at 0.8834) Our profit targets will be 0.8932 and 0.8952 Resistance: 0.8903 / 0.8925 / 0.8950 Support: 0.8881 / 0.8865 / 0.8840 Risk Disclaimer The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
Long
by OANDA
USDCHF remains in a corrective channel.USDCHF - 24h expiry Trading within a Corrective Channel formation. A higher correction is expected. Short term momentum is bearish. Prices expected to stall near trend line support. Trend line support is located at 0.8780. We look to Buy at 0.8784 (stop at 0.8754) Our profit targets will be 0.8854 and 0.8874 Resistance: 0.8840 / 0.8860 / 0.8876 Support: 0.8821 / 0.8800 / 0.8780 Risk Disclaimer The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
Long
by OANDA