Get started

Usdchfanalysis

USD/CHF: double top bearish pattern in sight?The Swiss franc ( USD/CHF ) rallied against the dollar in London morning trading, after the Swiss National Bank (SNB) unexpectedly raised interest rates by half a percentage point to -0.25%, shocking the market which had anticipated rates to remain unchanged. Rising inflationary pressures prompted the SNB's unexpected rate rise, after Switzerland's inflation rate hit 2.8% year-on-year in May, the highest level since September 2008. The SNB also stated that further rate increases are inevitable in the foreseeable future and that the franc is no longer highly valued because of recent depreciation. On the technical front, USD/CHF fell sharply to 0.98, and a double top bearish pattern is increasingly gaining shape, which could indicate a further dip to the neckline support of 0.955. Momentum indicator, as represented by the 14-day relative strength index, tilts dangerously downward and tries to test the 50 mark. Read more...
by Capitalcom
USDCHF:Battle of the safe-heavens?!!USDCHF Intraday - We look to Buy at 0.9941 (stop at 0.9919) Trading close to the psychological 1.000 level. 20 4hour EMA is at 0.9931. There is no clear indication that the upward move is coming to an end. A lower correction is expected. Our profit targets will be 0.9997 and 1.0007 Resistance: 1.0020 / 1.0040 / 1.0060 Support: 0.9990 / 0.9970 / 0.9940 Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Signal Centre’) . Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Signal Centre.
Long
by VantageMarkets