USD CHF Posts Daily Closing Price Bottom; Likely Position Squaring ahead of NFP Report
Profit-taking and position squaring ahead of Friday’s U.S. Non-Farm Payrolls Report helped form a daily closing price reversal bottom in the USD CHF on Thursday.
This could be something minor or it could be the start of an overdue correction. It all depends on how traders read Friday’s U.S. employment report.
Swiss Franc Flirting With All-time High Against the Greenback
Welcome to another day of FX trading! In today’s fx feature is the weekly chart of the USDCHF. As you can see, the pair has been losing a lot ground for several weeks now. After hitting a high of 1.1731 last May 31, it has slid since then. In fact, it had already touched the parity level early today.
Hiyo FX peeps! Here’s a weekly chart of the GBPCHF pair. As you can see, the pair has been trading sideways after hitting a low of 1.5118 back in December 29 back in 2008. Just recently, however, the Swiss franc was able to hurdle below the 1.5825 marker against the British pound.
End of the Euro’s Rally Versus the Swissy? – August 2, 2010
Hiyo FX men and women! Welcome to another week and month of forex trading! On today’s canvas is the daily chart of the EURCHF pair. As you can see, the euro has rallied against the Swiss franc after it hit a new historical low at on July 1. Notice that the pair has since traded within a rising channel.
Good day forex peeps! Here’s my ‘weekly’ update on the USDCHF pair. As you can see from the chart, the pair has returned back in the area of the inverted head and shoulders after it broke out and reached a high of 1.1731 last June 1. It then suffered 5 straight weeks of heavy declines after reaching the mentioned high (click here to see my previous post).
Here’s an update on the USDCHF pair which I last posted on June 29 (check my previous entry here). As you can see, the pair had reached a high of 1.1731 after breaking out from an inverted head shoulders formation. For awhile then, things were looking bright for those who were long. Unfortunately, the pair had ran out of gas and has sunk since reaching the mentioned high.
USD and Its Last Wall of Defense Against the Swissy – June 29, 2010
Welcome to another week of forex trading my friends! Today, I present to you an updated daily chart of the USDCHF pair. From my post about it exactly a month ago back in May 21, I mentioned that the USD is bound to give up some of its gains back to the Swiss franc after the pair had reached a high of 1.1731 in June 1.
The Swissy On Its Wave 5 Before the USD? – June 12, 2010
Good day forex poeple! Here’s an update on the USDCHF pair that I last posted back in the 21st of May. As you can see from pair’s daily canvas, the pair broke out from an inverted head and shoulders pattern and has since risen. After hitting a high of 1.1731 on June 1, it has weakened down to 1.1400.