{"id":62204,"date":"2014-10-20T09:54:53","date_gmt":"2014-10-20T13:54:53","guid":{"rendered":"http:\/\/countingpips.com\/?p=62204"},"modified":"2014-10-20T10:26:50","modified_gmt":"2014-10-20T14:26:50","slug":"usdchf-consolidation-persists-below-0-9480","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2014\/10\/usdchf-consolidation-persists-below-0-9480\/","title":{"rendered":"USD\/CHF: Consolidation Persists Below 0.9480"},"content":{"rendered":"<div id=\"inves-3103935095\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">October 20, 2014<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p>Technical Sentiment: <span style=\"color: #ff0000;\"><strong>Bearish<\/strong><\/span><\/p>\n<p><strong>Key Takeaways<\/strong><\/p>\n<ul>\n<li>Lower Highs and Lower Lows confirm bearish correction is still in play;<\/li>\n<li>USD\/CHF is carefully treading the 200 Simple Moving Average on 4H;<\/li>\n<li>Below 0.9400, traders could extend losses towards 0.9250 \u2013 0.9300.<\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><em>Despite overall strong U.S. data, the greenback took an extended breather in recent weeks against a basket of currencies. USD\/CHF remains dominated by selling pressure and another bearish leg is likely below 0.9400.<\/em><\/p>\n<p><em>\u00a0<\/em><\/p>\n<p><strong>Technical Analysis<\/strong><\/p>\n<p style=\"text-align: justify;\">Last week USD\/CHF formed a double swing low at 0.9467, while testing the upper resistance boundary based on its previous bullish channel, signaling a potential comeback from U.S. bulls. This recovery scenario was quickly invalidated when price formed another Lower High, failing to overcome the bearish structure set throughout October. Ensuing sell-off stopped once hitting 200 Simple Moving Average on 4H, quickly followed by a range behavior afterwards.<\/p>\n<p><a href=\"http:\/\/capitaltrustmarkets.com\/wp-content\/uploads\/2014\/10\/USDCHF20thOctober.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-7212\" src=\"http:\/\/capitaltrustmarkets.com\/wp-content\/uploads\/2014\/10\/USDCHF20thOctober.png\" alt=\"USDCHF20thOctober\" width=\"700\" height=\"352\" \/><\/a><\/p>\n<p style=\"text-align: justify;\">Resistance is currently set at 0.9467, where previous double bottom support has effectively turned into resistance this time around. While USD\/CHF stays below this level, selling pressure will continue to dominate, opening downside risk towards 0.9337 (50-Day Simple Moving Average) and 0.9250 (channel support).<\/p><div id=\"inves-1884871877\" class=\"inves-in-content inves-entity-placement\"><hr style=\"border: 1px solid #ddd;\">\r\n<div id=\"inpost_ads_header\">\r\n<p style=\"font-size:10px; float:left; color:#666;\">Free Reports:<\/p><\/div>\r\n<div id=\"inpost_ads\"> \r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/1ApBOV\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2018\/06\/graph_techs_PD.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t     <a href=\"https:\/\/goo.gl\/1ApBOV\"><b><u>Get Our Free Metatrader 4 Indicators<\/u><\/b><\/a> - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter<\/p><br><br>\r\n<br>\r\n<br>\r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/f3RrHX\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2019\/01\/cot_pie_80.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t    <a href=\"https:\/\/goo.gl\/f3RrHX\"><b><u>Get our Weekly Commitment of Traders Reports<\/u><\/b><\/a> - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.<\/p><br><br>\r\n<\/div>\r\n<hr style=\"border: 1px solid #ddd;\">\r\n<br><\/div>\n<p style=\"text-align: justify;\">Daily Stochastic has declined down to oversold territory and appears to be turning around. While this warns of a possible bottom forming soon, traders must wait for proper price action confirmation. USD\/CHF must break and stabilize above 0.9470 in order to invalidate its bearish structure of Lower Highs. Only then can buyers resume the uptrend, targeting 0.9685 and possibly above.<\/p>\n<p>*********<br \/>\nPrepared by Alex, Currency Strategist at <a href=\"http:\/\/www.capitaltrustmarkets.com\/\">Capital Trust Markets<\/a><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Technical Sentiment: Bearish Key Takeaways Lower Highs and Lower Lows confirm bearish correction is still in play; USD\/CHF is carefully treading the 200 Simple Moving Average on 4H; Below 0.9400, traders could extend losses towards 0.9250 \u2013 0.9300. Despite overall strong U.S. data, the greenback took an extended breather in recent weeks against a basket [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-62204","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/62204","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=62204"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/62204\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=62204"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=62204"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=62204"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}