YESTERDAY'S #GBPAUD,#GBPCHF,#AUDNZD,#EURCHF RETURN💰💵made by our clients with our Technical & Fundamental research signals📊💯Join us now👇13 MAY 2024

13 May 2024:

#GBPAUD BUY @ 1.8960 HIT TP1 AT 1.8983 WITH +23 PIPS 🔥

#GBPCHF BUY @ 1.13571 HIT TP1 AT 1.13771 WITH +20 PIPS ✅

#AUDNZD BUY @ 1.09766 HIT TP1 AT 1.09966 WITH +20 PIPS

#EURCHF BUY AT 0.976 HIT TP1 AT 0.9790 WITH +21 PIPS ✅

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#GBPCHF Forecast: British #Pound Plunges Against #Swiss #Franc (3 May 2024)

• At this point, the market is likely to continue to look at the 1.15 level as a major ceiling, and the fact that we have fallen so hard will certainly scare some traders away.
• However, it’s also worth noting that we continue to knock on the door of the ceiling, and of course the interest rate differential favors the British pound, and therefore I think given enough time we eventually do break out.

Swiss National Bank

Keep in mind that the Swiss National Bank has no interest in seeing a strong Swiss franc at the moment, so you won’t have some of the noise and concerns that you have dealing with the Japanese yen at the moment. After all, the Japanese have intervened a few times, although they will end up losing. In this particular pair, the Swiss really don’t have any issue with the depreciation of their currency at this point, because it has been so strong for so long. In that sense, you do have a bit of a tailwind in this pair that you don’t have in some others.

All things being equal, I do believe that we have a situation where sooner or later the buyers come back in and take advantage of the interest rate differential, as it does pay so well at the end of each session. Remember, institutional traders pay close attention to this, and given enough time I do think that it is a main driver here. At this point, I think there is plenty of support all the way down to the 1.13 level, with the 50-Day EMA city just above there. In general, this is a pair that I’m looking for value to take advantage of.

That being said, if we were to simply turn around and rip through the upside, I think at that point you also have to consider getting long in GBP/CHF pair because at that point in time it would be very likely to see this pair reaching toward the 1.20 level over the longer term. Obviously, that would be something that would take some time to accomplish.

CZC

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#GBPCHF #Forexsignal: Stable Against Franc (19 April 2024)

Potential Signal:

The British Pound continues to look strong against the Swiss franc, and as we are close to a major support barrier in the form of the 1.13 level, I am a buyer at this level. I would have a stop loss underneath the 50-Day EMA. My short-term target is 1.1475 above.

• Over the last several sessions, I have been paying close attention to the GBP/CHF pair, as it has such a significant amount of swap that you can get paid, and of course there is a major divergence between the two major central banks.
• Ultimately, the Swiss National Bank recently cutting rates has a major influence on this market, as the SNB is the first major central bank in the world to cut rates.
• This will continue to keep the Swiss franc on its back foot and is likely that will continue to drive the value of the Swiss franc lower over the longer term.

Technical Analysis

The pair does look very bullish, and the 1.13 level underneath is going to continue to be important. It’s an area that we’ve seen a little bit of action at previously, but we also have the 50-Day EMA approaching that region a little bit of a bounce from there does make quite a bit of sense, due to the fact that you get paid at the end of every day to hold this currency pair. Furthermore, it’s possible that the Swiss National Bank may continue to cut rates, and if that’s going to be the case, the Swiss franc becomes a massive funding currency for currency traders.

On the upside, we have the 1.15 level above offering a significant amount of resistance, and I think we simply bounce back and forth in this area as we continue to build up the necessary momentum eventually to perhaps break out. If we can break above the 1.15 level, then it is likely that we could go higher, perhaps reaching as high as 1.20 over the longer term.

On the other hand, if we were to break down below the 50-Day EMA, then it’s possible that the market could go down to the 200-Day EMA, which sits right around the 1.1150 level. All things being equal, this is a market that I think continues to see a lot of volatility, but I still favor the upside as the swap at the end of the day continues to be a major feature of this pair.

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#GBPCHF Signal: Sits on Support Against the Swiss Franc (10 Nov 2023)

If we turn around and break down below the 1.10 level, then it should send the British pound much lower, perhaps racing toward the 1.08 level over the longer term.

• The British pound has initially tried to rally during the trading session on Thursday but gave back gains rather quickly against the Swiss franc.
• Ultimately, this is a market that is sitting right around the 50-Day EMA as well, so it does make a certain amount of sense that we would see technical support and resistance come into play here.
• Just below, the 1.10 level should offer support as it is a large, round, psychologically significant figure, and an area where traders have paid close attention to previously. That being said, there are a couple of areas where we may be looking to break above.

If we break above the top of the candlestick for the trading session on Thursday, it would be a bullish sign and could send the British pound reaching toward a 1.11 level above. After that, then we have the 1.12 level, which sits at the top of a previous consolidation area. The 200-Day EMA sits right around that same area as well, so therefore it does make a certain amount of sense that we look at that as a major barrier, so if we were to turn around a break above there, it’s likely that the British pound would go much higher. Ultimately, we have seen a nice rally, but we have rallied right into previous support, which does offer a significant amount of resistance.\

Looking to Short This Pair

If we turn around and break down below the 1.10 level, then it should send the British pound much lower, perhaps racing toward the 1.08 level over the longer term. While I don’t necessarily know that will happen, the reality is that there are a lot of geopolitical concerns out there that could make the Swiss franc more attractive than the British pound. After all, the Swiss franc is considered to be a “safety currency”, so therefore you need to think of it through that prism as well. Raking down below the 1.10 level may bring in a bit of momentum, and therefore it might be the “cleanest trade” set up.

Potential Trade: While I am not ready to put money to work in the spare quite yet, I do recognize that the 1.10 level is a significant barrier. If we break down below there and closed below there on at least a one hour candlestick, I will short this pair, aiming for the 1.0850 level, with a stoploss at the 1.1070 level.

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EURUSD,#GBPUSD,#USDJPY,#EURGBP,#NZDUSD,#USDCHF,#GBPCHF: Weekly #Forex Forecast (3- 9 September 2023)

EUR/USD

The EUR/USD went into this weekend near the 1.07730 ratio which was a low for the week and came within sight of depths created on Friday the 25th of August. The trading landscape for the EUR/USD remains dangerous and speculators who have believed the currency pair has been oversold have likely found trading rather challenging. The EUR/USD did climb early in the week and attained a high around the 1.09445 mark on Wednesday the 30th of August.

However, the upward momentum of the EUR/USD proved short-lived. The highs seen this past Wednesday did touch higher values produced on the 15th of August. But the highs being spoken about in the middle of August were actually taking place as the EUR/USD was within the firm grasp of bearish sentiment and trading lower. The EUR/USD was trading near the 1.12780 level on the 18th of July.

EUR/USD has Traded Lower but Remains Correlated to the Broad Forex Market

Speculators are likely hearing about the rather negative economic data that is being presented in Europe particularly from Germany as recessionary pressures are having an effect on the EU and its outlook. However, traders need to also remember the downward momentum in the EUR/USD is correlating to the broad Forex market and the results from the currency pair are not a stand-alone event. Other major currencies are suffering against the USD too. And the EUR/USD actually remains in the middle ground of its six-month technical charts.

Nervous sentiment has certainly produced strong selling in the EUR/USD, but conditions have not been a one-way avenue downward. Last week’s price action certainly showed dynamic buying earlier in the week, but – yes, was overtaken by more selling sentiment. This leaves EUR/USD traders within a challenging landscape, but they are not alone. The U.S will be on a holiday tomorrow and trading volumes will be light, so speculators early this week should be careful and wary of sudden volatility erupting in what appear to be calm markets. This Tuesday’s return of full volume could produce rather interesting action in the EUR/USD.

EUR/USD has the Attention of Financial Institutions and Day Traders

• The EUR/USD certainly feels oversold to many day traders, but the price action of the currency pair has remained bearish and selling before going into the weekend was strong.
• Speculators this week should be prepared for more nervousness as sentiment gets interpreted because there will be a lack of significant economic data from the EU and U.S. in the coming days.

EUR/USD Weekly Outlook:

The speculative price range for EUR/USD is 1.06710 to 1.09360

The wide price range in the EUR/USD has certainly tested the fortitude of traders over the past handful of weeks. Volatility in the EUR/USD has been newsworthy and is getting a lot of media attention. Perhaps this is a good thing and shows that we may be reaching the height of market nervousness. Yes, things could grow more nervous, certainly if bad news comes from the U.S. regarding downgrades via rating agencies for corporate banks. However, if the markets can begin to regain their composure it is possible the selling within the EUR/USD which has dominated the past month and a half might start to run out of power.

Finding the turning point in a Forex pair when direction begins to change and sustain movement in an opposite direction is a dangerous endeavor. Timing the market has been known to make many traders lose their money, instead of simply pursuing a trend that is known. The movement downward in the EUR/USD has been strong, even if it has been believed overdone. Support near the 1.07500 to 1.07300 marks should be watched this week, if they do not hold this would be a bad sign possibly for the EUR/USD and mean another leg down could be demonstrated.

Without any major economic data coming this week, the EUR/USD will have to rely upon existing sentiment. If calmer conditions develop in the broad markets, perhaps the EUR/USD could start to climb again like it tried to early last week. The EUR/USD reflects the amount of nervousness in the broad global markets quite well. Some traders may rightly believe the currency pair has been sold too much, but knowing precisely when the trend will reverse higher and be sustained in the EUR/USD has proven difficult this summer.

GBP/USD

The GBP/USD went into the weekend near the 1.25855 level and within sight of lows made earlier in the week around the 1.25600 ratio on Tuesday of last week. The GBP/USD did reach a high of nearly 1.27485 on Wednesday, and held its value higher on Thursday but started to stumble on Friday again. U.S. jobs data was published on Friday and actually came in what could be perceived as ‘favorably’ to create weaker USD price action, but that did not happen.

Behavioral sentiment seemingly remains high in the financial markets and the GBP/USD has been sold off in the wake. The choppy conditions seen last week however were expected, and trading in the coming days will likely provide more nervousness.

The GBP/USD is within sight of intriguing support levels and this may prove tempting for speculators with a taste for excitement. Not only did the GBP/USD close near its weekly low, but it is not much higher than its monthly low which took place on Friday the 25th of August when the currency pair challenged the 1.25500 level.

Speculative Wagers and Thoughts of the GBP/USD Being Oversold

Traders who want to wager on the GBP/USD being oversold should not get too aggressive quite yet. The nervous sentiment that has lingered in Forex and the broad financial markets since the second week of July is still shadowing. The GBP/USD remains above values seen in May and early June of this year, but support should be watched closely around the 1.25450 level.

Traders in the next couple of days need to remember tomorrow is a banking holiday in the U.S. and Forex markets will be relatively quiet. With major U.S financial houses gone for a long holiday, this could open the door for more nervous trading in the GBP/USD tomorrow, support levels will need to prove durable for bullish sentiment to build.

However, tomorrow’s trading may not look anything like the trading that develops on Tuesday. Speculators need to be prepared for the potential of additional volatility hitting in the middle of this week, particularly as financial institutions brace for what may be changing outlooks based on lackluster U.S data which has been seen the past couple of weeks.

Relatively Light Data this week so Traders will Rely upon Behavioral Sentiment

• As traders return from the long holiday weekend in the U.S., they will rely upon their perceptions regarding what is to come without major economic data coming from the UK or States this week.
• Support levels may prove important tomorrow because the GBP/USD is within sight of last week’s low. If the 1.25800 to 1.25750 levels can be maintained, this may be interpreted as a buying signal.

GBP/USD Weekly Outlook:

The speculative price range for GBP/USD is 1.24860 to 1.27340

Trading the past week in the GBP/USD certainly produced the nervous results that were expected. The range in the GBP/USD while testing highs in the middle of the week, stumbled again. Because of the U.S. banking holiday tomorrow, the GBP/USD may produce rather suspicious results again tomorrow. Volumes will certainly be lighter than normal tomorrow, but Tuesday’s trading could produce price velocity as financial institutions fully engage and pursue their positions.

While speculators may look at the GBP/USD and perceive that it has been vastly oversold, Forex conditions remain nervous and the USD has produced strength in a rather aggressive manner against many major currencies. Traders looking for upside price movement to develop should remain patient and not get overly ambitious regarding bets they make looking for upside.

USD/JPY

The US dollar has been all over the place against the Japanese yen, but the most prescient part of the week might’ve happened on Friday as we initially plunged, only to see buyers come in and start going along yet again. At this point, we break above the top of the candlestick, then it’s likely that we go to the ¥150 level. On the other hand, we break down below the bottom of the candlestick, then the ¥142.50 level is an area where we would see a lot of support. Buying on pullbacks to pick up value is the way to go going forward as the interest rate differential continues to favor this market.

EUR/GBP

The euro has gone back and forth during the course of the trading we, as we continue to hang around the 0.85 level as support. We have been going back and forth between the 0.85 level underneath and the 0.87 level above. In general, this is a market that shows that perhaps short-term traders will continue to take advantage of the overall consolidation area that is so clearly marked out on this chart.

NZD/USD

The New Zealand dollar initially tried to rally during the course of the week, but the 0.60 level continues to offer resistance. The area previously had been a major support level, and of course is a large, round, psychologically significant figure. If we break down below not only this candlestick but the one before it, I believe that the New Zealand dollar will plunge toward the 0.57 level, possibly even the 0.55 level. On the other hand, if the market were to break above the top of the week, it’s possible that we could look into the 0.62 level.

USD/CHF

The US dollar initially pulled back during the course of the week, only to turn around and show signs of life. We are now threatening the top of the big wipeout candlestick, and it looks like we could go higher over the longer term, at this point, I think short-term pullbacks continue to offer buying opportunities. After all, the 0.8650 level has been a major support level over the longer-term monthly charts. If we break above the 0.89 level, then it’s possible that we could go looking to the 0.90 level which of course is a large, round, psychologically significant figure. If and when we break above there, then it’s likely that the dollar will crush the Swiss franc.

GBP/CHF

The British pound has gone back and forth during the course of the trading week against the Swiss franc, as we continue to see the 1.10 level offer a massive support level. At this point, I think we probably continue to see a lot of short-term back-and-forth, and I do think that we have to look at this through the prism of trying to figure out where we are going next. If we break down below the 1.10 level, then it’s likely that we could plunge toward the 1.05 level.

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#GBPCHF AND #CADJPY Wave Analysis (07 JUNE 2022)

 #GBPCHF

• GBPCHF reversed from round support level 1.2000
• Likely to reach resistance level 1.22

GBPCHF recently reversed up from the key round support level 1.2000 (which has been repeatedly reversing the pair from the end of May) .

The support zone near the support level 1.2000 was strengthened by the lower daily Bollinger Band.

Having just broken above the key resistance 1.2110 (which has stopped all advances at the end of May), GBPCHF can be expected to rise further toward the next resistance level 1.22 (top of wave (ii) from last month).

#CADJPY

• CADJPY broke resistance level 102.00
• Likely to test resistance level 105.00

CADJPY recently broke above the strong resistance level 102.00 (which has been reversing the pair since the middle of April) .

The breakout of the resistance level 102.00 accelerated the active medium-term impulse wave (3) – which started earlier from the key support level 98.40.

Given the strong daily uptrend – CADJPY currency pair can be expected to rise further toward the next resistance level 105.00 (target price for the completion of the active impulse wave (3)).

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