Thursday 12th August 2021: Technical Outlook and Review
On the H4, price drifted higher and is now testing daily resistance at 35600. With stochastics testing resistance, we see a low probability bearish scenario where sellers may enter and push price lower towards 1st support at 34922.
Wednesday 11th August 2021: Technical Outlook and Review
On the weekly chart, price is trading sideways holding between 33270 support and 37770 resistance. With price holding above long term moving average, we see a possibility of price facing further bullish pressure.
Tuesday 10th August 2021: Technical Outlook and Review
On the weekly chart, price is trading sideways holding between 32765 support and 37525 resistance. With price holding above long term moving average, we see a possibility of price facing further bullish pressure.
Thursday 05th August 2021: Technical Outlook and Review
On the weekly chart, price is trading sideways holding between 32765 support and 37525 resistance. With price holding above long term moving average, we see a possibility of price facing further bullish pressure.
Wednesday 04th August 2021: Markets follow Wall Street to the green
Asian stock markets are trading mostly higher on Wednesday, following the broadly positive cues overnight from Wall Street, as traders shrugged off concerns about the rapid spread of the delta variant of the coronavirus amid continued optimism about the economic outlook.
Wednesday 04th August 2021: Technical Outlook and Review
On the weekly timeframe, price bounced and continues to hold above key trendline pullback support at 1764. On the daily, price is now trading sideways, holding between 1855 resistance and 1753.42 horizontal overlap resistance.
Tuesday 03rd August 2021: Technical Outlook and Review
On the weekly timeframe, price bounced and continues to hold above key trendline pullback support at 1764. On the daily, price is now trading sideways, holding between 1855 resistance and 1764 weekly support.
Monday 02nd August 2021: Technical Outlook and Review
USD/CHF has shown a strong bounce from the weekly 0.89146 support, in line with 78.6% Fibonacci retracement, and price is now holding below the descending trendline resistance.
Friday 30th July 2021: Technical Outlook and Review
On the weekly timeframe, price tested and bounced above key trendline pullback support at 1764. On the daily, price is now trading sideways, holding between 1855 resistance and 1764 weekly support.
