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EUR/CHF Rising.

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EUR/CHF bullish momentum is maintained, approaching hourly resistance at 1.1763 (03/01/2018 high). Hourly support remains at 1.1659 (06/12/2017 low). The technical structure suggests further short-term increase.

In the longer term, the technical structure has reversed. Strong resistance is given at 1.20 (level before the unpeg). Yet, the ECB's slowing QE program is likely to cause buying pressures on the euro, which should weigh in favour of the EUR/CHF. Support can be found at 1.0234 (20/04/2015 low).

EUR/GBP Consolidation Continues

EUR/GBP is trading sideway at the 0.89 range. Hourly support and resistance are given at 0.8883 (13/11/2017 low) and 0.8982 (28/11/2017 high). The technical structure suggests shortterm sideway moves.

In the long-term, the pair has largely recovered from 2015 lows. The technical structure suggests further upside pressure. Strong resistance can be found at 0.9500 (psychological level) while support remains at 0.8304 (05/12/2016 low). The pair is trading above its 200 DMA.

AUD/USD Testing Resistance At 0.7879

AUD/USD is recovery phase continues, approaching resistance at 0.7879 (21/02/2018 high). Hourly support is given at 0.7879 (21/02/2018 high). Further support and resistance are given at 0.7638 (15/12/2018 low) and 0.7999 (17/01/2018 high). The technical structure suggests short-term upward moves.

In the long-term, the upward trend slows down after failing to reach key resistance at 0.8164 (14/05/2015 low). Key support stands at 0.6009 (31/10/2008 low). A break of the key resistance at 0.8164 (14/05/2015 high) is needed to invalidate our long-term bearish view.

USD/CAD Consolidation

USD/CAD buying pressures slow down, stabilized along the 1.2815 range. The pair is contained between hourly support and resistance at 1.2668 (26/02/2018 low) and 1.3015 (05/07/2018 high). The short-term technical structure suggests further short-term sideway moves.

In the longer term, the pair is trading between resistance point at 1.3805 (05/05/2017 high) and support at 1.2128 (18/06/2015 low). Strong resistance is given at 1.4690 (22/01/2016 high). The pair is likely to head lower. The pairs is trading above its 200 DMA

USD/CHF Increasing Further

USD/CHF continues its increase after breaking hourly resistance at 0.9520 (24/01/2018) and approaching the 0.9560 range. The pair currently trades between hourly support and resistance at 0.9296 (05/02/2018 low) and 0.9559 (24/01/2018 high). Expected to show short-term increase.

In the long-term, the pair is still trading in range since 2011 despite some turmoil when the SNB unpegged the CHF. Key support lies at 0.9072 (07/05/2015 low) while resistance at 1.0344 (15/12/2016 high) is distanced. The technical structure favours a long term bullish bias since the unpeg in January 2015

USDJPY Approaching Resistance At 107.27

USD/JPY sharp rise comes back, heading higher along the 106.70 range. Hourly support and resistance are given at 104.97 (11/10/2016 high) and 107.27 (25/02/2018 high). The bearish pattern started in January 2018 is maintained. The short-term technical structure suggests short-term increase.

We favor a long-term bearish bias. Support remains at 101.20 (09/11/2016 low). A gradual rise toward the major resistance at 125.86 (05/06/2015 high) seems unlikely. Expected to decline further support at 101.20 (09/11/2016 low). The pair trades largely below its 200 DMA.

GBPUSD Bounce Continues

GBP/USD continues its recovery phase following its descent at 1.3782, currently trading at the 1.3820 range. The pair is trading between hourly support and resistance at 1.3678 (12/01/2018 low) and 1.3945 (19/01/2018 high). The technical structure suggests short-term increase.

The long-term technical pattern is reversing. The Brexit vote had paved the way for further decline but the pair is moving to 2016 highs. Long-term support and resistance are given at 1.1841 (07/10/2017 low) and 1.5018 (24/06/2016 high).

EURUSD Sideway Moves Maintained

EUR/USD is maintained at the 1.2330 range following recent decline from 1.2446 high. Hourly support and resistance are given at 1.2112 (12/01/2018 low) and 1.2475 (31/01/2018 high). The technical structure suggests further short-term sideway moves.

In the longer term, the momentum is turning largely positive. We favor a continued bullish bias. Key resistance is holding at 1.2886 (15/10/2014 high) while strong support lies at 1.1554 (08/11/2017 low).

EUR/USD: US Average Hourly Earnings

The Greenback fluctuated based on the releases of the controversial reports from Bureau of Labour Statistics on Friday. The EUR/USD currency pair rose by 16 pips in the first 5 minutes, however the trend reversed right after, causing the pair to tumble almost twice as much.

The Bureau of Labour Statistics simultaneously released 3 reports on Friday: average hourly earnings, non-farm employment change and unemployment rate, from which only the first 2 had a notable impact on the exchange rate. The upmove in the EUR/USD currency pair was caused by lower-than-expected average hourly earnings data, while the downtick was driven by better-than-expected non-farm employment change figures.

GBP/USD: UK Manufacturing Production

The Sterling depreciated against the US Dollar, following the release of factory output data on Friday. The GBP/USD exchange rate lost seven pips, or 0.05%, reaching the 1.3805 level.

The UK industrial output did not meet the forecasts in the month of January, growing only by 0.1%, following a little bit higher growth rate of 0.3% in the prior month. While the uptick may not be flattering, the UK Office for National Statistics still reported the ninth consecutive month of growth in domestic manufacturing companies, which means that the gain in January marks the longest growth streak since the begginning of ONS records in 1968.