Switzerland
USD/CHF: The Swiss franc remains well above its uptrend during yesterday’s trading after USDCHF tested the support area which stands at 0.9090, while technical indicators remain flat especially the RSI, while stochastic oscillator continue to drop further, meanwhile, the general trend remain to the upside as far as 0.9090 support area continue to hold along the week, otherwise, further downside could be seen again toward 0.9000 psychological support.
Euro Zone
EUR/USD: The European currency edged higher during yesterday trading after the major central banks intervention which lead to as high as 1.3531, but the pair dropped back again and closed the day below 1.3444 resistance area, BUT technical indicators remain positive for now, and there is a high possibility to continue with its upside retracement toward 1.3605 before the trend may resume later next week.
United Kingdom
GBP/USD: The British currency also edged higher after the central bank’s intervention yesterday reaching as high as 1.5780, and the pair retraced by 50% from its latest downside move, in addition, the pair tested its 50 DAY MA and closed the day well below that solid resistance area, and Technical indicator seen mixed, with flat RSI and positive stochastic away from oversold area, in the meantime, the general trend remain to the downside as far as 1.58 resistance are remain intact.
Manufacturing PMI: Monthly gauge of manufacturing activity and future outlook.
BOE Financial Stability Report: A report that includes analysis and insights regarding the stability of the current financial system.
USD/CHF: The Swiss franc remains well above its uptrend during yesterday’s trading after USDCHF tested the support area which stands at 0.9090, while technical indicators remain flat especially the RSI, while stochastic oscillator continue to drop further, meanwhile, the general trend remain to the upside as far as 0.9090 support area continue to hold along the week, otherwise, further downside could be seen again toward 0.9000 psychological support.
Euro Zone
EUR/USD: The European currency edged higher during yesterday trading after the major central banks intervention which lead to as high as 1.3531, but the pair dropped back again and closed the day below 1.3444 resistance area, BUT technical indicators remain positive for now, and there is a high possibility to continue with its upside retracement toward 1.3605 before the trend may resume later next week.
United Kingdom
GBP/USD: The British currency also edged higher after the central bank’s intervention yesterday reaching as high as 1.5780, and the pair retraced by 50% from its latest downside move, in addition, the pair tested its 50 DAY MA and closed the day well below that solid resistance area, and Technical indicator seen mixed, with flat RSI and positive stochastic away from oversold area, in the meantime, the general trend remain to the downside as far as 1.58 resistance are remain intact.
Manufacturing PMI: Monthly gauge of manufacturing activity and future outlook.
BOE Financial Stability Report: A report that includes analysis and insights regarding the stability of the current financial system.