(Last Updated May 28, 2020)
Welcome to the news page for USDCHF (USDCHF). Below you’ll find our daily market updates. Here’s a technical analysis summary of where things currently stand:
On USDCHF, there is currently a clear downtrend on the 14 day timeframe.
The moving averages on USDCHF summarize its price action in an interesting way. The 50 and 100 day averages are pointing upwards, suggesting a bullish trend, in contrast to the downward-facing 20 and 200 day averages that imply a bearish trend. Moreover, it should also be noted that the 20 SMA just turned bearish today.
The chart below illustrates.
As for correlation, As for assets in the Forex asset class USDCHF has been correlated to over the past week, it has been most correlated with CHFJPY. USDCHF has been most correlated with CHFJPY over the past 14 days also, so this may be a recurring pattern. Alternatively, AUDNZD has been the asset least correlated with USDCHF — but over the past two weeks, the asset least correlated with USDCHF has been GBPCHF. The chart below illustrates USDCHF against its least correlated assets.
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Also of note is that on a 90 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward.
And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well.
The closest is the 100 day average, which is 25.1 pips away.
Also of note is that on the 30 and 90 day bases price appears to be forming a base — which could the stage for it being a support/resistance level going forward.
If the support at 0.9180 is broken, the short-term forecast we will not enter the uptrend….
As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa.
Also of note is that on the 30 and 90 day bases price appears to be forming a base — which could the stage for it being a support/resistance level going forward.
The closest is the 20 day average, which is 10 pips away.
Initially its overall trend is downward on monthly tf until it started decelerating to the upside. lets wait to see candlestick close below the short term upward trendline and we sell.
It should be noted, though, the 50 day simple moving average turned downwards, which may be a bearish sign.