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  • Our picks

    • Swiss Franc Firming Against US Dollar and Euro. Will Momentum Take CHF Higher?
      EUR/CHF made a 7.5-year low at the end of last month at 0.9699, moving below the previous low of 0.9804.

      Since breaking lower, the price has not managed to reclaim 0.9804 and it may continue to offer resistance. The 21-day Simple Moving Averages (SMA)is currently at that level, potentially adding resistance.

      Further up, the recent peak of 0.9957 might offer resistance ahead of the break point at 0.9973.

      In the last session, the price has crossed below the 10-day SMA and remains below the 21-, 55-, 100- and 200-day SMAs.

      A bearish triple moving average (TMA) formation requires the price to be below the short term SMA, the latter to be below the medium term SMA and the medium term SMA to be below the long term SMA. All SMAs also need to have a negative gradient.

      Looking at EUR/CHF, the criteria for a bearish TMA has been met and may indicate that bearish momentum could evolve further.

      Support might be at the recent low of 0.9699 or further down at the 161.8% Fibonacci Extension of 0.9638.

       

      Chart created in TradingView 

      USD/CHF TECHNICAL ANALYSIS

      USD/CHF has bounced off low made at the start of this month at 0.9470 to trade in a wide range of 0.9545 – 0.9650. These levels might provide support and resistance respectively.

      While the price is below all short-, medium- and long-term Simple Moving Averages (SMA), they have positive and negative gradients. This may suggest a lack of conviction for directional momentum that might see further range trading.

      Re-iterating this possibility is the price criss-crossing the 10-day SMA. Recent history has shown that when the price crosses the 10-day SMA, momentum in that direction continues. That is not the case over the last week.

      The recent low of 0.9470 may provide support ahead of the break point at 0.9460. On the topside, resistance might be at the break point of 0.9710 or the July peak of 0.9886.

       Chart created in TradingView

      Daniel McCarthy, Strategist Daily FX

      Source: Daily FX
      • 0 replies
    • Post in FTSE 📈 to drop soon
      Check out phillo's analysis on the FTSE100. Are you tracking any technical analysis for the FTSE you want to share? If so join the forum.
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    • Rolls-Royce share price: half-year results
      Rolls-Royce shares (LON: RR) sunk by 10% to 83p on Friday after half-year results spooked investors over long-running problems with supply chain issues and inflation.
      • 0 replies
    • Community Survey Questions
      Hello IG Community, at IG, we are working to improve investing and trading content for you. We would really like to know what you feel about investing and trading content. Please take and complete this 10-minute survey.
      • 2 replies
    • Dividend Adjustments 8th August 2022 - 15th August 2022
      Please see the expected dividend adjustment figures for a number of our major indices for the week commencing 8th August 2022. These are projected dividends and likely to change. IG cannot be held responsible for any changes made.
      • 0 replies
    • Best UK ETFs to buy in Q3 2022
      Some of the best UK ETFs to buy this quarter include those centred-on investing themes such as gold, Brent Crude, and sustainable equity.
      • 0 replies
    • Your thoughts on ProRealTime
      Thousands of IG clients love using ProRealTime for the Decision support tools, Trading interface, Automatic trading and Backtesting capabilities. Tell us about your experience using ProRealTime. 

       

      Some of the particular points we are interested in:

      Did you know about ProRealTime before joining IG?


      What feature convinced you that ProRealTime was the platform to use?


      Is it an easy process to activate ProRealTime, if not how can we make it easier for you?


      Is it easy  to launch ProRealTime or would you like to launch it in a different way?


      Do you like the default blue template or do you prefer another, what is your favorite ProRealTime template?


      Which windows do you think are essential to see on a default ProRealTime template?


      What would you like to change or add to the platform?


       

      We would love to hear from you!

      For more information visit the following link: ProRealTime

       

      All the best - MongiIG
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