FX Trading News & Strategies from Australian Stock Report
The bias for the USDCHF is bullish. We’ve switched to a four-hour chart today to better highlight the recent bull move. The shorter-term EMAs are crossed higher and the price action is above the longer-term EMA filter, which is positive. Whilst we are bullish, we would only be buyers on stop above [...]
The bias for the EURUSD is bearish. The shorter-term EMAs have crossed lower and are diverging, and the price action has extended away from the longer-term EMA filter, which is negative. The price action is also on the verge of breaking down below a key horizontal level which, if breached, could induce further [...]
We covered the USDCHF on 8 August (view here), noting a sustained downtrend over an extended period of time. We provided a suggestion for aggressive traders to sell below 0.7550, with stops above 0.7680 for protection. The pair crashed through the 0.7100 level overnight, extending the dramatic fall in US dollar against its Swiss counterpart. [...]
The USDCHF pair traded at a new all-time low on Friday night, having pushed past the previous low created on 2 August, 2011. Given the configuration of the EMA’s, the recent declines look set to accelerate. Aggressive traders can consider being sellers on stop, below 0.7550. If shorts are considered, stops should be placed above [...]
USDCHF Trading Pair Commentary: December 21
Despite pulling back from the recent highs around 0.9550, the bias for the USDCHF is bullish. The price action has pulled back to the breakout region, around 0.9230, and held there thus far. If the price action can bounce off this region, we could see a rotation back in the recent high. In order to [...]