TriumphFX Interday Forex Analysis – CHF Pairs – August, September, October, 2022


Previous analysis… https://analysis.tfxi.sc/2022/03/23/triumphfx-forex-analysis-chf-pairs-april-may-june-2022/

AUDCHF – Daily Chart – Indecision

AUDCHF Daily Chart

AUDCHF has been bearish.

Price was showing a potential uptrend but recent price action has been bearish and is now looking indecisive. AUDCHF has been moving sideways and has formed a tight range at 0.6600-0.6700. The moving averages confirm the market indecision – they are tightening and are moving sideways.

Trading opportunities may exist around the support and resistance areas of the range and if AUDCHF closes out of the range (break-out trade). A break to the upside could find resistance around the moving averages and around 0.6805, 0.7035 and 0.7065. A break to the downside could find support around 0.6520, 0.6500 and 0.6405.

The Swiss National Bank (SNB) have hiked rates by 0.50%, bringing the official rate to -0.25% – interest rates still being negative. The SNB did not rule out further rate hikes in future or the possibility of intervening in foreign exchange markets. The rate increase is to tackle rising inflation.

The Reserve Bank of Australia (RBA) has increased rates again, by another 0.50% to 1.85%. The rate increases throughout 2022 have been to tackle rising inflation. The RBA have stated that the economic outlook is cloudy, due to the war in Ukraine and China’s anti-COVID measures.

CADCHF – Daily Chart – Indecision

CADCHF Daily Chart

As suggested in our previous analysis, the CADCHF has been indecisive.

Despite the recent bullish move above the consolidation area, price continues to be indecisive and lack trend momentum. CADCHF is currently finding support around 0.7365. The moving averages confirm the market indecision – they are tightening and are moving sideways. Price could start ranging between 0.7365 and 0.7560.

Trading opportunities may exist around the moving averages and around any of the identified horizontal levels at 0.7125, 0.7180, 0.7365, 0.7560 and 0.7800.

The Bank of Canada (BOC) has raised it’s interest rate by an entire percent, increasing the official bank rate to 2.5%. The BOC have announced that further hikes are expected to tackle rising inflation.

The Swiss National Bank (SNB) have hiked rates by 0.50%, bringing the official rate to -0.25% – interest rates still being negative. The SNB did not rule out further rate hikes in future or the possibility of intervening in foreign exchange markets. The rate increase is to tackle rising inflation.

EURCHF – Daily Chart – Down-trending

EURCHF Daily Chart

Price reversed around 1.0500 and has since been bearish, as suggested in our last chart analysis.

EURCHF is clearly down-trending – price action has formed a series of lower swing highs and lower swing lows. Price is currently forming a swing lower. EURCHF is starting to look a little over-extended, suggesting that price may be due a retrace move. The moving averages signal that the trend may continue – they are bearish and steady.

Opportunities to go short could exist around the moving averages, around any of the key Fib levels, around the trend resistance area and around any of the horizontal levels at 0.9965, 1.0095, 1.0250 and 1.0500.

The Swiss National Bank (SNB) have hiked rates by 0.50%, bringing the official rate to -0.25% – interest rates still being negative. The SNB did not rule out further rate hikes in future or the possibility of intervening in foreign exchange markets. The rate increase is to tackle rising inflation.

The European Central Bank (ECB)has increased it’s rates by 0.50%, bringing the official rate to 0.75%. Further rate hikes could happen, due to rising inflation.

GBPCHF – Daily Chart – Down-trending

GBPCHF Daily Chart

As suggested in our last analysis, the GBPCHF reversed off the trend resistance area and has been bearish.

Price is clearly down-trending and is currently forming a swing lower. The moving averages are bearish and widening, suggesting that the downside direction could continue.

Shorting opportunities may exist around the dynamic resistance of the moving averages, around the trend resistance area and around any of the horizontal levels at 1.1525, 1.1750, 1.2000, 1.2100, 1.2270 and 1.2420.

The Bank of England (BOE) have increased it’s official bank rate again. This time by 0.50% – it’s biggest rate increase since 1995! The official rate is now set to 1.75%. This is the 6th consecutive rate hike by the BOE. Further rate hikes are expected. The BOE has announced a potential recession by the end of 2022, which could last throughout 2023.

The Swiss National Bank (SNB) have hiked rates by 0.50%, bringing the official rate to -0.25% – interest rates still being negative. The SNB did not rule out further rate hikes in future or the possibility of intervening in foreign exchange markets. The rate increase is to tackle rising inflation.

USDCHF – Daily Chart – Market Indecision. Potential downtrend?

USDCHF Daily Chart

Price became bullish and is now indecisive, as suggested in our previous chart analysis.

USDCHF is indecisive but has formed a series of lower swing highs and lower swing lows. Price action has also formed a bearish channel, strengthening the possibility of a downtrend. The moving averages confirm the current indecision though – they are moving sideways.

Trading opportunities could exist around the support and resistance areas of the bearish channel, around the moving averages and around any of the identified horizontal levels at 0.9035, 0.9090, 0.9150, 0.9230, 0.9350, 0.9415, 0.9550, 0.9830 and 1.0030.

The Swiss National Bank (SNB) have hiked rates by 0.50%, bringing the official rate to -0.25% – interest rates still being negative. The SNB did not rule out further rate hikes in future or the possibility of intervening in foreign exchange markets. The rate increase is to tackle rising inflation.

The Federal Reserve has raised the official funds rate by an additional 0.75% – it’s fourth rate hike in 2022. The rate is currently now set at 2.5%. The increase in rates is to tackle rising inflation. The Fed currently plan to increase rates further – economists expecting a rate of around 3.25% by the end of 2022.

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