Asian equity markets traded mixed amid a lack of fresh catalysts and with the region failing to take advantage of the mild tailwinds from Wall Street.
Tag - chf - swiss franc
The risk of a second wave of coronavirus is more likely to put pressure on rates. Risky assets are supported by fiscal and monetary stimulus.
How to trade on July 21?
Riskier currencies and stocks are in favor of investors. Surprisingly, gold rallies too. Let’s have a closer look.
GBP/CHF formed a "bullish engulfing" candlestick on the W1. On smaller timeframes, we see a higher low that makes the price action resemble an “Inverse Head and Shoulders” pattern.
USD/CHF has made an impressive movement to the downside. The pair has closed on Wednesday below the 61.8% Fibonacci retracement in the 0.9455 area.
The USD made decisive moves mostly with the exotic currencies - let's have a look to prepare for new market entries.
GBP/CHF slipped below the 50-day MA this week. The line is currently acting as resistance at 1.1905. Earlier declines below it led to bigger moves down.
April seasonal patterns weren’t supposed to work, but somehow they did. Even a strong fundamental issue such as the global recession amid the coronavirus couldn’t overwhelm it. That’s why May seasonal patterns may work as well.
The decline of USD/CHF from February highs to March lows was epic. The pair then reached support at 0.9185 (2018 low) and turned up.
The Bank of Canada cuts its interest rate bigger than it was expected. Should we wait for more CAD weakness?
The US dollar drops to strategic lows against the Swiss franc. Will that keep going on?