USD/JPY: Live Coverage Trade Update
In our FOMC Meeting live coverage on YouTube yesterday, we sent out a short signal on USD/JPY around 25 minutes after the decision and right before the press conference.
USD/CHF awaits the news
Information is not investment advice
The USD is awaiting American economic figures that are due later today (preliminary GDP growth, durable goods orders, core PCE price index, personal spending, and Chicago PMI). The figures may bring some volatility to USD/CHF.
For the past couple of days, USD/CHF has been consolidating below the resistance line that connects the highs of October and November in the 0.9990 area. Notice that this is just below the 1.0000 mark - the parity level that naturally represents a considerable obstacle for buyers. In addition, the price has reached the upper Bollinger Band on the D1 and the Stochastic Oscillator is in the overbought area. This too should make the advance more difficult. On the downside, support has been around 0.9965. The decline below this level will open the way down to 0.9947 (200-day MA). Earlier this line didn't manage to hold the price action. The next levels to watch on the downside are at 0.9927 and 0.9885 (the 50- and the 100-day MAs respectively). Such a scenario will come into play if the market risk sentiment worsens.
If the United States and China keep moving towards a phase 1 trade deal and America releases decent economic data, USD/CHF may try for a break of resistance. If the pair settles above 1.0000, the new bullish targets will be at 1.0030 (October high) and 1.0050.
Elizabeth Belugina
Similar
The Fed & Delta Variant
The Federal Reserve decided to keep the current policy unchanged as widely expected, with no additional information about the timing of the tapering. In fact, in this meeting, the Fed mentioned tapering twice only.
Better than Expected Earnings, Stocks Lower! How?
Since the beginning of the earnings season, companies are posting record earnings, most sectors have so far beaten the estimates by a large margin…
Popular
Gold exploded after FOMC meeting!
As we discussed in the previous article devoted to gold, the price is growing extremely fast after a dovish FOMC’s statement…
Facebook: Targeted Advertising Faces Danger
What happened? Facebook presented an earnings report on July 28…
USD continues to weaken against the EUR
Ichimoku Kinko Hyo NZD/JPY: The NZD/JPY pair is trading slightly below the Tenkan Sen level…
Choose your payment system
