TriumphFX – Forex Analysis – CHF Pairs – October, November & December 2021


Previous analysis… https://analysis.tfxi.com/2021/08/03/triumphfx-forex-analysis-chf-pairs-july-august-september-2021/

AUDCHF – Daily Chart

AUDCHF Daily Chart

As suggested in our last CHF chart analysis, the AUDCHF has been bearish and has swung lower.

Price has been down-trending but is currently in a strong retrace move. Price action has formed an inverted head and shoulder trend reversal pattern and the AUDCHF has swung above the trend resistance area, suggesting that the downtrend may have come to an end. The moving averages are still bearish and widening though, signalling potential downside.

Trading opportunities could exist around the moving averages, around the previous trend resistance area (as support) and around any of the identified horizontal levels at 0.6390, 0.6520, 0.6635, 0.6675, 0.6805, 0.6900, 0.6985, 0.7030, 0.7145 and 0.7230.

The Reserve Bank of Australia (RBA) continues to keep the official interest rate at the record low of 0.10%. The rate is could stay the same until 2024. The RBA are expecting an economic bounce back during 2022.

The Swiss National Bank (SNB) continues to keep rates at the all-time low of -0.75%. The SNB recently announced that it will continue to intervene with in foreign exchange markets but will likely keep rates unchanged until 2022. The Swiss economy is recovering from COVID and seems stable.

CADCHF – Daily Chart

CADCHF Daily Chart

The CADCHF has been indecisive and has been moving sideways, as suggested in our last CHF analysis.

Price is lacking trend direction and is moving sideways. The moving averages confirm the market indecision – they are tight and moving sideways. The CADCHF is also looking indecisive on the weekly time-frame.

Trading opportunities could exist around the moving averages and around any of the identified horizontal levels at 0.7040, 0.7140, 0.7200, 0.7375 and 0.7500.

The Swiss National Bank (SNB) continues to keep rates at the all-time low of -0.75%. The SNB recently announced that it will continue to intervene with in foreign exchange markets but will likely keep rates unchanged until 2022. The Swiss economy is recovering from COVID and seems stable.

The Bank of Canada (BOC) continues to keep rates at the low of 0.25%. The BOC are expecting economic indicators to continue to improve.

EURCHF – Daily Chart

EURCHF Daily Chart

As suggested in our last analysis, price has been bearish.

EURCHF has recently been moving sideways, signalling market indecision. Price is potentially ranging between 1.0710 and 1.0930. The moving averages confirm the current indecision – they are moving sideways. EURCHF is also indecisive on higher time-frames.

Trading opportunities may exist around the support and resistance areas of the range and if price moves out of the range (break-out trade). A break to the downside could find support around 1.0670. A break to the upside could find resistance around 1.0970, 1.1000, 1.1055 and 1.1120.

The European Central Bank (ECB) continues to keep the official rate at the record low of 0.00%. They have said that no rate change is expected in the near or distant future. Inflation targets and economic growth forecasts have been lifted for this year.

The Swiss National Bank (SNB) continues to keep rates at the all-time low of -0.75%. The SNB recently announced that it will continue to intervene with in foreign exchange markets but will likely keep rates unchanged until 2022. The Swiss economy is recovering from COVID and seems stable.

GBPCHF – Daily Chart

GBPCHF Daily Chart

Price has been moving sideways, as suggested in our last chart analysis.

GBPCHF continues to be indecisive and lack trend momentum, despite a break of a range support area. Price has formed a new range and horizontal channel at 1.2470-1.2820. GBPCHF is clearly moving within the range. The moving averages are tight and moving sideways – confirming the market indecision.

Trading opportunities could exist around the support and resistance areas of the horizontal channel and if price moves out of the channel (break-out trade). A break to the upside may find resistance around 1.3030. A break to the downside may find support around 1.2185 and 1.1745.

The Swiss National Bank (SNB) continues to keep rates at the all-time low of -0.75%. The SNB recently announced that it will continue to intervene with in foreign exchange markets but will likely keep rates unchanged until 2022. The Swiss economy is recovering from COVID and seems stable.

The Bank of England (BOE) continue to keep rates at the record low at 0.10%. Recent economic figures have been more positive than expected, although inflation fears have been mentioned by many.

USDCHF – Daily Chart

USDCHF Daily Chart

The USDCHF has been bullish.

Price was indecisive but has recently been bullish. Price action has formed a short series of higher swing highs and higher swing lows, signalling a potential uptrend. The moving averages confirm this – they are bullish and steady.

Opportunities to go long may exist around the dynamic support of the moving averages, around the trend support areas and around any of the horizontal levels at 0.9260, 0.9230, 0.9100, 0.9040 and 0.8945. A bullish move could be rejected or reverse around the recent highs at 0.9440.

The Federal Reserve have stated that they will do everything they can to support the US economy and to help a robust recovery. The current rate is set at 0.25% (record lows). The US economy is bouncing back quicker than originally expected and is making a strong economic recovery post-COVID. Inflation has elevated and may continue to do so in the coming months.

The Swiss National Bank (SNB) continues to keep rates at the all-time low of -0.75%. The SNB recently announced that it will continue to intervene with in foreign exchange markets but will likely keep rates unchanged until 2022. The Swiss economy is recovering from COVID and seems stable.

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