• Welcome to forex.pm forex forum binary options trade. Please login or sign up.
 

USDCHF is lower but rebounding to a key technical level. What next? What about next week?

Started by forex4you, Jan 19, 2025, 04:28 am

Previous topic - Next topic

0 Members and 1 Guest are viewing this topic.

forex4you

USDCHF is lower but rebounding to a key technical level. What next? What about next week?

The USDCHF is lower on the week after reaching the highest level going back to May 2024 on Monday. The low for the week was reached on Wednesday after the US CPI data, but that decline was quickly rejected.

The rebound after the CPI took the price up to its 100-hour moving average where sellers leaned. Yesterday the price action was up-and-down with the currency pair closing down on the day.

In trading today, the price has remained below the 100-hour moving average, but continued it up and down trading. The price in the early North American session has moved back up to retest the key 100-hour moving average currently at 0.91325 (and is above its 200 hour moving average of 0.91258). Getting above those moving average levels and staying above --  would be more bullish from a technical perspective not only today but going into next week's trading.

Fundamentally, the Swiss National Bank is more dovish as inflation is much lower than the 2% target. Conversely, US inflation remained sticky above 2% (and 2.5% for that matter). That should keep the pair more bid with buyers in control. Putting it another way, the technicals will have to drive a lower move. 

On the downside, the rising 100 bar moving average on the 4-hour chart comes in at 0.90841. Getting below below the 100 and 200-hour moving averages and the 100 bar moving average on the 4-hour chart is required to give the sellers more control from a technical perspective at least in the short term.



                This article was written by Greg Michalowski at www.forexlive.com.

Source: USDCHF is lower but rebounding to a key technical level. What next? What about next week?

forexlive.com
Forex4you offers wide range of trading accounts with DDE, NDDE and STP executions including more than 100 instruments. Forex4you is based on MetaTrader 4 trading platform. Clients have the advantage of daily technical and fundamental analysis, one-click trading, economic calendar, mobile trading applications, news and forecasts from Dow Jones (UK) and signals from Trading Central (US). In addition, Forex4you offers Forex dictionary, educational materials and lot of "How to" guides about Forex.

forex4you.com   share4you.com   betiforex.com Forex  beginners-guide-to-iq-option-complete-review forex4you review forex4you Forex4you Review - One of the Best Forex Brokers Forex4you Review - One of the Best Forex Brokers forex4you - PAMM forex broker review and feedback from traders forexbinaryoption.ae aroundworld24.com  Affiliate programs  Forex4you Affiliate programs   



forex4you.com