CHF/JPY retraced 61.8% of its August-September decline, corrected down, formed a higher low above the 100-day MA and now seems eager to rise to the 78.6% Fibonacci level at 116.90.
Tag - chf - swiss franc
EURCHF is a rare cross pair that is nonetheless very interesting both from the technical and fundamental point of view. Let’s throw a strategic look at it to see what we may expect in the nearest future.
Looking ahead, highlights from macroeconomic calendar include Eurozone CPI US Retail Sales and University of Michigan, European Council Summit and Fed’s Williams speech.
European stock markets are seen opening mixed Tuesday, with investors having to sift through the conflicting impulses of strong Chinese export data and a setback in the progress towards a Covid-19 vaccine.
US stock markets are indicated to open higher, still supported by hopes of support for the US economy after the administration’s abrupt pivot on Wednesday.
GBP/USD is trading above the key pivot point level. Further bullish momentum will trigger the market to the resistance area of 1.3045.
Very muted market reaction after NFP. However, given the margin of error some of the recent prints have seen (in relation to consensus estimates), this can be considered a rather "in-line" release.
US final GDP for 2Q -31.4%% vs -31.7% estimate
USD/CHF gets higher, GBP/USD may try to test higher levels as well. AUD/USD found support. Watch the video to learn more about the major pairs!
After yesterday's equity sell-off things are looking mixed in the Asian session this morning.
US stock markets tumbled at the opening on Thursday as the Federal Reserve's warnings about a slow recovery from the pandemic.
USD/CHF may plummet, if the Fed's statement is dovish. Jump in to know more!