Community
Blog
al_dcdemo's Blog

al_dcdemo's Blog

Avatar

USD/CHF above parity

al_dcdemo Posted 11 Mar.  in #Trader's blog #USD/CHF #Parity #Swissy #Weekly Resistance #Mma
USD/CHF has broken above parity this morning. It briefly stalled around 100 MMA and Weekly Resistance 2, but now appears to be breaking higher as it flirts with 1.01 level. It seems that there won't be any heavier selling until closer to year's peak prices above 1.02 and year's high at 1.0294.
Read full story
Translate to English Show original

Since you are not logged in, we don't know your spoken language, but assume it is English
Please, sign in or choose another language to translate from the list.

– or –

Leave a comment
orto leave comments
Avatar

No winter for NFP

al_dcdemo Posted 6 Mar.  in #Trader's blog #Nfp #Yen #USD/JPY #New Year #Weekly Resistance #Daily Resistance #Tough Winter
Despite tough winter conditions, February non-farm payrolls rose 295K and unemployment ticked down to 5.5%, a level touted by some officials as a "normal unemployment level". Average hourly earnings slightly disappointed, but that didn't stop the Dollar from gaining 100-150 pips across the board.
USD/JPY broke the New Year high near 120.75 then 121 level and traded up to 121.27. It stopped just ahead of weekly resistance 3 and is now in retreat. 120.75 should now act as support, as should broken…
Read full story
Translate to English Show original

Since you are not logged in, we don't know your spoken language, but assume it is English
Please, sign in or choose another language to translate from the list.

– or –

Leave a comment
orto leave comments
Avatar

USD/CHF ascent may become troublesome

al_dcdemo Posted 30 Jan. as Analysis on USD/CHF, Target: 0.9310, Date: 2nd of March, 12:00 GMT  in #Technical analysis #USD/CHF #Parity #Swissie #Snb Shocker #Blip #Swing Low #Weekly Resistance #Underwater Longs
Monthly chart:
The pair has broken parity on the first trading day of the year. It was trading around 1.02 when SNB shocker sent it all the way to the 2011 lows. The actual low was 0.7263 or almost 30% of its value before the announcement. Since then it managed to recoup about two thirds of the losses and regained foothold above both 20 and 50 month SMAs. I'd say 50 month SMA is the line in the sand. If it manages to hold above it, that's bullish. Otherwise bearish.
Weekly chart:
After strong r…
Read full story
Translate to English Show original

Since you are not logged in, we don't know your spoken language, but assume it is English
Please, sign in or choose another language to translate from the list.

– or –

4 Comments
al_dcdemo avatar
al_dcdemo 8 Feb.

As anticipated, the pair stalled ahead of 200 day SMA. Despite various rumours about SNB, including that they are on the bid aiming at 1.05 - 1.10 range in EUR/CHF, the pair slowly drifted lower, but then managed to close the week roughly unchanged. Whether this is just a pause in an uptrend or a near-term top remains to be seen, hopefully next week's price action will give us the answer.

al_dcdemo avatar
al_dcdemo 15 Feb.

Swiss Franc was the weakest among currencies this week as it lost nearly a percent compared to the second weakest currency - the Dollar. After it retested the lows on Monday, it was slowly grinding higher and then closed the week right on 200 DMA. The next strong resistance to overcome is October 15 2014 low (0.9360) and if it goes, then there little to stop the pair until closer to 0.95.

al_dcdemo avatar
al_dcdemo 22 Feb.

After successfully breaking above 200 DMA and 0.9360 resistance, the pair has added additional two cents and traded up to 100 DMA, breaking 50 DMA and 0.95 level in the process. On Friday, however, it reversed strongly, wiping out more than half of its weekly gains, posting outside reversal (aka bearish engulfing) on the daily chart. At this point it appears too strong to be just a normal pullback, but with SNB supposedly on the bid, everything is possible.

al_dcdemo avatar
al_dcdemo 28 Feb.

Last week's outside day reversal proved to be a fake one. The pair erased most of Friday's losses on Monday and then, after some sideways action over the next two days, broke to new marginal highs on Thursday. Currently, 76.4% retracement of the SNB decline at 0.9540 and December 16 low at 0.9550 are capping the pair. If it manages to break higher, then there's little resistance on the chart until closer to 0.9700 - 0.9750.

orto leave comments