Tag Archives: Swiss Franc

Charts to Start the Week

Good morning. Euro rallied on Friday after the NFP data release, reaching $1.28 against the US dollar. Other risk currencies such as AUD followed the EUR higher. What’s also interesting these days is that EURCHF started moving, rallying 150 points before pulling back to 1.2070-1.21 where it is trading now.

EURUSD

Market sentiment: intraday – bullish, short-term – bullish

Potential trade strategy: to buy dips at 1.2700, stop below 1.2630, target at 1.29

EURUSD daily 9-10-2012

EURUSD daily 9-10-2012

4hrs chart:

EURUSD 4hrs 9-10-2012

EURUSD 4hrs 9-10-2012

EURGBP

Resistance at .7950/60 was breached and is now poviding short-term support, hence a buying level to consider

Market sentiment: intraday – bullish, short-term – bullish

Potential trade strategy:to buy dips at .7950, target at .8200 Continue reading

Tuesday Charts 8/7/12

Good morning. Friday’s positive NFP figure has sent risk-sensitive currencies higher against the US dollar. The euro managed to overcome former resistance barrier in the lower $1.23 zone and is now hovering near $1.24.

EURUSD

Market sentiment: intraday – bullish, short-term – slightly bullish

Potential trade strategy: to buy dips at 1.2320, target above 1.24

EURUSD daily 8-7-2012

EURUSD daily 8-7-2012

This support range between 1.2290 and 1.2325 is even easier to notice on the hourly chart below Continue reading

Dollar Up After Fed; Market Awaiting ECB

Good morning. The dollar recovered yesterday after the Fed said yesterday that the economy is weakening. The Fed left unchanged the statement that they would likely hold the rate unchanged, near zero, at least through late 2014 – and left the door open for fresh stimulus. It seems there’s a good chance we won’t see more QE in the next months since election is just around the corner and the Fed doesn’t want to appear political. The market is currently waiting for the ECB at 13:30 GMT, which is today’s major event

EURUSD

Euro declined from the 1.2330 region yesterday in risk-off trade, but it found intraday support 100 points lower, around 1.2230. There isn’t much to do until the ECB press conference.

Market sentiment: intraday – bearish, short-term – bearish

Potential trade strategy: to sell on weakness below 1.2220 or sell on rally to 1.2300/30

EURUSD 4hrs 8-2-2012

EURUSD 4hrs 8-2-2012

Hourly chart:

EURUSD hourly 8-2-2012

EURUSD hourly 8-2-2012

AUDUSD

Aussie dollar has weakened, too, but remains bullish on short-term basis. Anyway, selling on the potential break below 1.0440 is tempting, so it’s worth to keep an eye on this support level

Market sentiment: intraday – bearish, short-term – bullish

Potential trade strategy: to sell on breakdown below 1.0440, target at 1.0330 Continue reading

Midweek Charts That Matter 8/1/12

Good morning. The market is likely to stay quiet until later today, when the ADP Nonfarm Employment Report and ISM Manufacturing Index will be released. The most important event is scheduled in the evening (GMT), and that is the Fed Interest Rate Decision followed by the FOMC Statement. (see Economic Calendar)

EURUSD

Euro is slowly recovering some of Friday’s losses when it pulled back after reaching $1.2390. First resistance starts a few pips above current trading level – at 1.2330 and it is followed by 1.2390/00. I think there is some more upside to be seen as Friday’s decline failed to gain negative momentum. Unless, of course, bad news keep coming from Europe.

Market sentiment: intraday – slightly bullish, short-term – bearish

Potential trade strategy: to buy on break above 1.2330, target at 1.24+

EURUSD daily 8-1-2012

EURUSD daily 8-1-2012

4hrs chart: Continue reading

Charts to End the Week 7/27/12

Good morning. Dollar continued to weaken against its counter-parts yesterday, so EUR managed to reach resistance at $1.2300 formed by a top established in the last two weeks.

EURUSD

Market sentiment: intraday – bullish, short-term – bearish

Potential trade strategy: to look for a buying opportunity (aggressive plan) on the break of 1.2310, target at 1.2400

EURUSD 4hrs 7-27-2012

EURUSD 4hrs 7-27-2012

USDCHF Continue reading

Thursday Charts 7/26/12

Good morning. Dollar is trading slightly lower across the board today on speculation that the US Fed will expand stimulus. The euro made a few attempts to recover towards $1.22 but eventually failed and is still consolidating gains a few points below 1.2150 – where resistance zone starts. Important events today are: ECB Draghi’s speech and Initial Jobless Claims (see Economic Calendar)

EURUSD

Market sentiment: intraday – slightly bullish, short-term – bearish

Potential trade strategy: buying on strength above 1.2150/70 looks both risky and tempting. Another plan is to look for a selling opportunity around 1.2310

EURUSD hourly 7-26-2012

EURUSD hourly 7-26-2012

4hrs:

EURUSD 4hrs 7-26-2012

EURUSD 4hrs 7-26-2012

USDCHF

Dollar pulled back after flirting with parity but upside remains in focus. Support formed by recent top at .9865 holds (so far) but it all depends on EURUSD’s attempt to climb above 1.2170

Market sentiment: intraday – slightly bearish, short-term – bullish

Potential trade strategy: none (no need to put two eggs in the same basket)

USDCHF 4hrs 7-26-2012

USDCHF 4hrs 7-26-2012

AUDUSD

Aussie dollar bounced off support formed by the rising trendline connecting previous higher lows and trades comfortably above 1.0300 at time of writing. It looks quite bullish for now

Market sentiment: intraday – bullish, short-term – bearish

Potential trade strategy: to buy on minor pullback to 1.0300, target at 1.0450

AUDUSD 4hrs 7-26-2012

AUDUSD 4hrs 7-26-2012

USDCAD

Resistance around 1.0220 held and the US dollar pulled back to test support formed by the median retrace value of last up leg. But pressure is high and I for one doubt it will hold

Market sentiment: intraday – bearish, short-term – bearish

Potential trade strategy: to sell on weakness below 1.0120, target at 1.0050 and parity

USDCAD 4hrs 7-26-2012

USDCAD 4hrs 7-26-2012

AUDCAD

This cross just screams “breakout”

Market sentiment: intraday – bullish, short-term – bullish

Potential trade strategy: to buy on strength/breakout above 1.0510, stop below 1.0450, target at 1.0700+

AUDCAD daily 7-26-2012

AUDCAD daily 7-26-2012

have a great day!

Euro Sell-Off Likely to Continue

Good morning. Euro recovered some ground since yesterday but is facing selling pressure on each attempt to reach fresh intraday highs – and the sell-off is likely to continue amid Spain and Italy worries. According to yesterday’s poll, most readers are expecting the EUR to continue its decline – to $1.200 and below.

EURUSD

Market sentiment: intraday – bearish, short-term – bearish

Potential trade strategy: to sell on pullback to 1.2150/70, initial stop above 1.2200, target at and below 1.200.

EURUSD 4hrs 7-24-2012

EURUSD 4hrs 7-24-2012

There are two sell zones quite obvious on the hourly chart: one at 1.2150 (gap filling) and the 2nd one between 1.2190 and 1.2220 – a 30-pip range formed by the two fib retracement levels

EURUSD hourly 7-24-2012

EURUSD hourly 7-24-2012

USDCHF

The dollar trades comfortably around .9900 against the Swiss franc and there’s a good chance that parity level will be tested soon

Market sentiment: intraday – bullish, short-term – bullish

Potential trade strategy: to buy dips at .9860/80, target at 1.000 and above

USDCHF 4hrs 7-24-2012

USDCHF 4hrs 7-24-2012

EURJPY

EURJPY feels even heavier than EURUSD. But it does have a chance to recover, and that’s only if USDJPY makes a strong comeback and EURJPY would follow. But right now it’s the other way around: USDJPY following EURJPY downward. Well, whatever happens – one thing is clear enough: there are many sellers waiting in line to crush the EUR against the yen

Market sentiment: intraday – bearish, short-term – bearish

Potential trade strategy: sell on minor pullbacks to 95.20, or maybe higher – at 95.80, target below 94

EURJPY hourly 7-24-2012

EURJPY hourly 7-24-2012

AUDUSD

Aussie dollar recovered some of its losses and is currently testing resistance formed by the MA lines seen below and the horizontal resistance around 1.0300. I don’t think it’s a good idea to buy it yet, as more EUR weakness would drag AUDUSD down as well.

Market sentiment: intraday – bearish, short-term – bullish

Potential trade strategy: to sell into rally at 1.0350, stop above 1.0400, target at 1.0150

AUDUSD 4hrs 7-24-2012

AUDUSD 4hrs 7-24-2012

AUDCAD

Recovery continues after Aussie bounced off support around 1.0450 yesterday. Resistance to keep an eye on is formed at 1.0500/10

Market sentiment: intraday – bullish, short-term – bullish

Potential trade strategy: to look for a swing trade buying opportunity on the potential break of 1.0500, target at 1.0700

AUDCAD 4hrs 7-24-2012

AUDCAD 4hrs 7-24-2012

have a great day!

Charts to Start the Week 7/23/12

Good morning. Euro continues its collapse, reaching a 11-year low against the Japanese yen and is trading near $1.200 against the dollar at time of writing. Current selling catalysts are the renewed talks of Greece eurozone exit and Spain worries.

Important events this week: Bernanke’s Speech, German IFO, New Home Sales, US Initial Jobless Claims, US GDP – see the Economic Calendar for details

[polldaddy poll=6409651]

EURUSD

Market sentiment: intraday – bearish, short-term – bearish

Potential trade strategy: to sell on pullback to 1.2150/70, initial stop above 1.2200, target at and below 1.200

EURUSD 4hrs 7-23-2012

EURUSD 4hrs 7-23-2012

GBPUSD

Cable is following EUR and other risk-sensitive pairs lower and support at 1.5530 is on the radar screen. If price pulls back from here, selling is likely to be triggered around 1.5620

Market sentiment: intraday – bearish, short-term – bearish

Potential trade strategy: to sell on pullback to 1.5620, target at 1.5530 Continue reading

Midweek Charts of Interest 7/18/12

Good morning. Euro holds onto gains after yesterday’s recovery from $1.2185 – level reached after the fast plunge of 1 big figure in one hour.

Today’s important events: UK MPC Meeting Minutes, Bernanke’s Testimony, BoC Monetary Policy Report (see FX Calendar for details)

EURUSD

Recovery is likely to continue, at least that’s what the 4hrs and daily charts suggest

Market sentiment: intraday – bullish, short-term – bearish

Potential trade strategy:  to sell into rallies towards 1.2380-1.2400, targeting 1.2200 and below. Another plan is to buy on strength above current top side around $1.2310

eurusd hourly 7-18-2012

eurusd hourly 7-18-2012

Recovery continuation patterns are seen on both 4hrs and daily charts:

eurusd 4hrs 7-18-2012

eurusd 4hrs 7-18-2012

daily chart: Continue reading

Tuesday Charts 7/17/12

Good morning. Dollar is losing ground across the board as EUR recovers, testing $1.2300 a bit earlier today – on its way to $1.2400 where first important short-term resistance is seen

EURUSD

Market sentiment: intraday – bullish, short-term – bearish

Potential trade strategy: to sell into rallies towards 1.2350-1.2400, targeting 1.2200 and below. Another plan, but riskier, would be to look for a buying opportunity around 1.2250, with an initial stop below 1.2200 and a target at 1.2400

eurusd 4hrs 7-17-2012

eurusd 4hrs 7-17-2012

hourly chart:

eurusd hourly 7-17-2012

eurusd hourly 7-17-2012

GBPUSD

Cable reached resistance formed by the trendline which is connecting recent tops, hence providing a potential sell opportunity

Market sentiment: intraday – bullish, short-term – neutral

Potential trade strategy: to sell around resistance at 1.5650/60, with an initial target at 1.55 and a stop/reverse above resistance zone Continue reading