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breaking news USDCHF up for 6th consecutive week


USDCHF is up for the 6th week in a row

the USDCHF

USD/CHF

USD/CHF is the currency pair comprising the United States dollar (symbol $, code USD) and the Swiss franc of Switzerland (code CHF). The pair’s exchange rate indicates how many Swiss francs are needed to buy one US dollar. For example, when USD/CHF is trading at 1.2500, it means that 1 US dollar equals 1.25 Swiss francs. The US dollar (USD) is the most traded currency in the world, while the Swiss franc (CHF) is the sixth most traded currency in the world, resulting in a very liquid pair, with tight spreads, often staying within the spread range from 0 pip to 2 pip. on most forex brokers. Even though the Swiss Franc may not be as liquid as the Euro or the Yen, the USD/CHF currency pair is still liquid enough to be known as the fourth major currency. Trading USD/CHF has its pros and cons. The main advantage being that many traders often prefer to invest in the Swiss franc in the event of economic or political instability. This is due to the fact that Switzerland is traditionally known as a safe haven, as it generally remains neutral and silent on many major geopolitical events. , for example he never participates in wars. These investments can trigger big swings for traders, who can capitalize on these moves. The main disadvantage is that the US dollar is the world’s reserve currency. So traders can also flock to the USD, trying to figure out which currency is most likely to engage can sometimes be tricky. USD/CHF still lives in the shadow of 2015 USD/CHF is otherwise considered one of the least volatile pairs, with a tendency to follow the Euro, hence the negative correlation between it and EUR/USD. The currency pair will forever be tied to the events of January 2015 with the Swiss National Bank (SNB) crisis that rocked the currency markets. In this case, the SNB abruptly decided to abandon the currency peg of the Swiss franc (CHF) to the euro, shaking the markets.

USD/CHF is the currency pair comprising the United States dollar (symbol $, code USD) and the Swiss franc of Switzerland (code CHF). The pair’s exchange rate indicates how many Swiss francs are needed to buy one US dollar. For example, when USD/CHF is trading at 1.2500, it means that 1 US dollar equals 1.25 Swiss francs. The US dollar (USD) is the most traded currency in the world, while the Swiss franc (CHF) is the sixth most traded currency in the world, resulting in a very liquid pair, with tight spreads, often staying within the spread range from 0 pip to 2 pip. on most forex brokers. Even though the Swiss Franc may not be as liquid as the Euro or the Yen, the USD/CHF currency pair is still liquid enough to be known as the fourth major currency. Trading USD/CHF has its pros and cons. The main advantage being that many traders often prefer to invest in the Swiss franc in the event of economic or political instability. This is due to the fact that Switzerland is traditionally known as a safe haven, as it generally remains neutral and silent on many major geopolitical events. , for example he never participates in wars. These investments can trigger big swings for traders, who can capitalize on these moves. The main disadvantage is that the US dollar is the world’s reserve currency. So traders can also flock to the USD, trying to figure out which currency is most likely to engage can sometimes be tricky. USD/CHF still lives in the shadow of 2015 USD/CHF is otherwise considered one of the least volatile pairs, with a tendency to follow the Euro, hence the negative correlation between it and EUR/USD. The currency pair will forever be tied to the events of January 2015 with the Swiss National Bank (SNB) crisis that rocked the currency markets. In this case, the SNB abruptly decided to abandon the currency peg of the Swiss franc (CHF) to the euro, shaking the markets.
Read this term is on track for the 6th consecutive week of solid gains as the week draws to a close.

Since the last low, when USDCHF bottomed at 0.91942 during the week of March 27, prices have risen 853 pips to hit yesterday and today’s high near 1.00486.

Extending higher, USDCHF price moved above a swing zone between 1.00137 and 1.0027. The current price is trading above these two levels at 1.0032.

Staying above the 1.0027 level is the most bullish bias for the pair off the weekly chart. Of course, the parity level 1.0000 is also close assist level

Assistance level

A trade support or support level represents a given price that acts as a temporary barrier for an asset. In particular, this level ensures that the price of an asset will not fall below or encounter difficulty in doing so. All assets can use supports, be it forex, stocks, commodities, etc. The support level for a given asset is created by buyers entering the market whenever the asset falls to a lower price. Basic support levels can be calculated and charted by identifying the lowest lows for a given time frame. This can happen over any period, be it daily, hourly, etc. A support line can be flat or skewed up or down from the overall price trend. Looking deeper, other technical indicators and charting techniques can be used to identify more advanced releases of support. Support levels differ from resistance, which illustrate the opposite direction of price movements. Understanding Support Levels When the price of an asset falls towards a defined support level, the asset can either hold at that level or fall further. In this case, additional supports must be identified to offset a breach or drop. Support levels for many assets can be created by limit orders or simply by the market action of traders and investors. Traders can rely on support levels to plan either entry or exit. points for trades, as well as developing more detailed trading strategies. For example, if the price action on a chart falls below a support level, this is considered an opportunity to buy or go short. Also, if this breakout of the support level occurs during an uptrend, it could possibly be a sign of reversal and strength.

A trade support or support level represents a given price that acts as a temporary barrier for an asset. In particular, this level ensures that the price of an asset will not fall below or encounter difficulty in doing so. All assets can use supports, be it forex, stocks, commodities, etc. The support level for a given asset is created by buyers entering the market whenever the asset falls to a lower price. Basic support levels can be calculated and charted by identifying the lowest lows for a given time frame. This can happen over any period, be it daily, hourly, etc. A support line can be flat or skewed up or down from the overall price trend. Looking deeper, other technical indicators and charting techniques can be used to identify more advanced releases of support. Support levels differ from resistance, which illustrate the opposite direction of price movements. Understanding Support Levels When the price of an asset falls towards a defined support level, the asset can either hold at that level or fall further. In this case, additional supports must be identified to offset a breach or drop. Support levels for many assets can be created by limit orders or simply by the market action of traders and investors. Traders can rely on support levels to plan either entry or exit. points for trades, as well as developing more detailed trading strategies. For example, if the price action on a chart falls below a support level, this is considered an opportunity to buy or go short. Also, if this breakout of the support level occurs during an uptrend, it could possibly be a sign of reversal and strength.
Read this term it would keep buyers happy, while keeping sellers nervous.

Drilling on the hourly chart below, a return below the parity level would cause traders to look towards what was an established high from Monday and Thursday (see the numbered red circles in the chart below) .

This upper zone was between 0.99613 and 0.9974. Also near this level is the rising 100 hourly moving average which sits at 0.99617. The combination increases the importance of the zones in the future.

With parity as the key natural support level, the beginning of the week high at 0.99613 and the rising 100 hourly moving average at 0.99617, these 3 levels should be broken to give the sellers more control and potentially define a vertex. Without it, the buyers stay in control and the trend stays up.

breaking news USDCHF up for 6th consecutive week

USDCHF broke above the M-Th ceiling yesterday


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