TriumphFX Forex Analysis – CHF Pairs – January, February & March 2021


Previous analysis… https://analysis.dehuifx.com/2020/10/01/triumphfx-forex-analysis-chf-pairs-october-november-december-2020/

AUDCHF – Daily and 4 Hour Charts

AUDCHF Daily Chart
AUDCHF 4 Hourly Chart

Price has been reversing around the horizontal channel support and resistance area, as suggested in our last CHF chart analysis.

On the daily chart, AUDCHF continues to be indecisive and is currently testing the horizontal channel resistance area. The moving averages confirm the market indecision – they are tight and moving sideways.

Price is up-trending on the 4 hour time-frame and is attempting to break the daily channel resistance area. The moving averages are tightening though, signalling market indecision.

Trading opportunities may exist around the support and resistance areas of the horizontal channel and if AUDCHF closes out of the channel (break-out trade). A break to the upside could find resistance around the horizontal resistance levels at 0.6820 and 0.6860.

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 at least 2021.

The Reserve Bank of Australia (RBA) have lowered the interest rate to a record low of 0.10%. Unemployment levels are expected to remain high, currently forecast at 8%. The board believe that recovery will be both uneven and bumpy. Low rates and economic stimulus is likely to continue until unemployment levels and other economic indicators are more satisfactory.

CADCHF – Daily and 4 Hour Charts

CADCHF Daily Chart
CADCHF 4 Hourly Chart

Price has continued to be indecisive and lack trend momentum.

On the daily time-frame, the CADCHF is consolidating within a large symmetrical triangle pattern and also moving within a number a horizontal levels. The daily moving averages confirm the market indecision – they are tight and moving sideways. Price action has been forming higher swing highs and lows, suggesting that price could break higher.

The CADCHF is also looking indecisive on the 4 hour time-frame.

Trading opportunities may exist around the support and resistance areas of the triangle consolidation pattern and if price moves out of the pattern (break-out trade). Trading opportunities may also exist around any of the horizontal levels at 0.6680, 0.6770, 0.6840, 0.6885, 0.7020, 0.7175, 0.7260 and 0.7435.

The Bank of Canada (BOC) continues to keep rates at the low of 0.25%. Economic figures will likely continue to give choppy indicators, depending on the spread and restrictions of COVID-19. The BOC are expecting to see economic growth from 2021 onward.

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 at least 2021.

EURCHF – Daily and 4 Hour Charts

EURCHF Daily Chart
EURCHF 4 Hourly Chart

As suggested in our last CHF analysis, EURCHF has been finding resistance around 1.0875.

The EURCHF continues to be indecisive on the daily time-frame. Price action is forming a bullish consolidation pattern though, suggesting that price may break higher. The daily moving averages confirm the potential upside – they are bullish and steady.

The EURCHF is also looking indecisive on the 4 hour time-frame.

Buying opportunities could exist around the 4 hourly and daily moving averages, around the daily consolidation diagonal support area and around the horizontal levels at 1.0740, 1.0670 and 1.0615. A bullish move may be rejected or reverse around the horizontal resistance levels at 1.0880, 1.1020 and 1.1045.

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 at least 2021.

The European Central Bank (ECB) has stated the recurring cycles of coronavirus spread may continue until widespread immunity is achieved. Rates continue at the record low of 0.00%. The ECB have hinted at providing more economic stimulus.

GBPCHF – Daily and 4 Hour Charts

GBPCHF Daily Chart
GBPCHF 4 Hourly Chart

GBPCHF reversed around 1.2230, as suggested in our last CHF analysis.

On the daily time-frame, price is now looking indecisive and is moving within a horizontal channel at 1.1600-1.2225. The moving averages confirm the current indecision – they are tight and moving sideways.

Price is also indecisive on the 4 hour time-frame.

Trading opportunities may exist around the support and resistance areas of the horizontal channel and if GBPCHF moves out of the channel (break-out trade). A break to the upside could find resistance around 1.2825 and 1.3265. A break to the downside could find support around 1.1230. Trading opportunities may also exist around the 4 hour horizontal levels at 1.2185 and 1.1715.

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.

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 at least 2021.

USDCHF – Daily and 4 Hour Charts

USDCHF Daily Chart
USDCHF 4 Hourly Chart

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

The USDCHF is down-trending on lower time-frames and is currently forming a swing lower. The moving averages are bearish and steady, signalling that the downtrend may continue.

On the 4 hour time-frame, price is also down-trending and forming a swing lower. The moving averages are bearish and widening.

Selling opportunities could exist around the dynamic resistance of the moving averages, around the trend resistance area and around the horizontal levels at 0.8980, 0.9190 and 0.9285.

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 at least 2021.

The Federal Reserve have stated that the health risks associated with COVID will continue to weigh on economic activity, inflation and employment. The current rate is set at 0.25% (record lows). The Fed have suggested that rates may remain low until economic indicators show satisfactory improvement.

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