Trade Ideas to Follow This Week
EUR/USD 4H chart EUR/USD surged after Powell’s speech on Friday…
SNB Won't Let EUR/CHF Fall
2021-08-17 • Updated
What happened?
It looks like the decline in EUR/CHF to 1.07 has got the attention of the Swiss National Bank (SNB). An increase in sight deposits by over 1 billion CHF in the past two weeks suggests that intervention has resumed. SNB’s goal is to avoid CHF strengthening. That is why if EUR/CHF drops down to 1.05, SNB will intervene.
At the moment, EUR/CHF correlates with EUR/USD. If EUR gets weaker as Federal Reserve tightens monetary policy, it will create issues for SNB.
According to experts’ opinion, EUR/CHF is going to consolidate between 1.05 and 1.1 in the middle-term perspective.
Technical analyses
4H Chart
EUR/CHF dropped to its 1,072-support driven by the strong impulse. At the moment, a pullback to the 1,075 level is expected. If the price breaks through, the next target will be 1.079. On the other hand, if the pair breaks through 1,072, the next support levels will be 1,068 and 1,063.
Similar
EUR/USD Hit All Targets
4H Chart Daily Chart EURUSD managed to rise further on Friday inline with our expectations, reaching our entire targets mentioned in our previous notes at 1…
USD/CAD Short Trade
USDCAD began the week slightly higher reaching as high as 1.2510 but failed to sustain these gains.
Latest news
European Stock market might crash soon
In today's article, we will be performing an interesting analytical experiment - Correlation! To start, I have chosen a few indices that we will be observing. It's just like we're analyzing...
Best Trade Ideas for April
I know we've had quite an amazing run these past few month, with over 78% accuracy in our trade ideas and sentiments, and thousands of pips in profits monthly...
CAD Might Weaken As Oil Market Plunges
Futures for Canada's main stock index rose on Monday, following positive global markets and gains in crude oil prices. First Citizens BancShares Inc's announcement of purchasing the loans and deposits of failed Silicon Valley Bank also boosted investor confidence in the global financial system...
