By Forex Signs, Inc.<\/p>\n
The GBPCHF pair attempted to decline further yesterday, as it went to a 1.5410 low, but closed at the 1.5559 level. As of this writing the price is near 1.5573 immediate resistance and it looks like this pair is still in bullish correction phase. A clear break above the immediate resistance is needed to continue the bullish pressure. Immediate support remains at 1.5411 and a break below the support line of the bullish channel could trigger bearish reversal. Looking at the long-term charts, MA (14) shows a bearish trend, and is likely to continue its momentum. RSI (14) shows price is still in neutral territory, paving the way for our bearish bias to happen.<\/p>\n
Rising German Industrial Orders May Spur the Euro<\/p>\n
For the upcoming European session a strong German Industrial Production is expected to boost the Euro against the Swiss Franc, as market consensus stands at 1.1%, after November’s report posted a fall of 0.8%. This economic indicator has more impact than the factory orders released last Tuesday. Though factory orders have only risen 1.6%, it was still a welcome development for the Euro as it tries to regain its footing following the massive sell-off last November due to the Irish bailout. Investors are now looking at the possibility of a rebound by the Euro after the European Union is now looking to find a permanent solution to the crisis the region has suffered. The Euro finance ministers though have not discussed those measures, as they believed the funds the EU has put up is sufficient enough for them to stem the sovereign debt crisis.<\/p>\n
Canadian Housing Figures Expected To Boost The Loonie<\/p>\n
The Canadian dollar is expected to rise against the US dollar as the Housing Starts is expected to increase to 174K for November. This indicator fell more than economists expected in October, which only reported 168K in September. The Bank of Canada earlier said that housing will be a hindrance in economic growth next year after several stimulus measures for homeowners resulted to no gain.<\/p>\n
Meanwhile, the US will continue the Bush-era income tax cuts to reduce pressure on the Fed’s $600B bond-purchase program to spur US economic growth. With this measure, the US hopes to raise GDP by next year by half a percentage point to 3.1%. After announcing the agreement, US stocks mad a rally sending the S&P 500 index to highest level since the financial crisis in 2008.<\/p>\n
Forex Signs, Inc., Founded in 2006 in Wall Street, New York City, FSI relentlessly strives to be the premier Forex brokerage company in the industry by providing exclusive and unmatched trading and investment related services while constantly developing innovative solutions that cater to the vast requirements of both individual and institutional market participants.<\/p>\n","protected":false},"excerpt":{"rendered":"
The GBPCHF pair attempted to decline further yesterday, as it went to a 1.5410 low, but closed at the 1.5559 level. As of this writing the price is near 1.5573 immediate resistance and it looks like this pair is still in bullish correction phase. A clear break above the immediate resistance<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-16497","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/16497","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=16497"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/16497\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=16497"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=16497"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=16497"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}