Sat. Oct 16th, 2021

USDCHF is approaching the main hurdle

USDCHF

The US dollar continues to regain lost ground thanks to the post-PNF boost.

The break above 0.9150, the last stage of the previous sale, suggests a solid commitment from traders. The rebound originated in the demand area around 0.9030 of the daily chart and is heading towards greater resistance to 0.9230.

A bullish break may help the dollar break free of a reduced consolidation range and resume the rally from the beginning of the year.

0.9140 it is the first support in case of setback to let the RSI cool.

EURGBP falls to the ground

EURGBP

The pound sterling is rising as traders bet the BOE would start tightening its policy sooner than most of its peers.

The daily support at 0.8470 could not contain the fireworks. The bearish break has invalidated the April rebound as sellers became more aggressive.

The downward push pushes the price towards 0.8400.

An oversold RSI may have caused a limited rebound as intraday traders pull some tokens off the table. Still, sentiment remains low, as long as the euro is below 0.8520.

GER 30 struggles to move forward

DAX

The Dax 30 comes at a strong pace as investors worry about shrinking after strong job data in the United States. The bounce has stopped right at the peak a 15800.

Buyers ’struggle to surpass the all-time high indicates strong pressure from both profits and new sales.

The RSI divergence in this type of large supply areas is a warning sign as the purchase has lost momentum.

The break below 15660 could lead to the rescue of the oxen. 15440 would be the next support, as the index enters a correction.

Test your strategy on how the USD will work with Orbex – open your account now.

Sometimes we include links to online retail stores. If you click on one and make a purchase we may receive a small commission.

Source link

Leave a Reply