CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
About Our Global Companies
Valutrades_LogoSpot
Valutrades_SYLogoSpot

Company

Valutrades Limited - a company incorporated in England with company number 07939901. View more information here.
Valutrades (Seychelles) Limited - a company incorporated in the Seychelles with company number 8423648-1.

Regulation

Regulated by the FCA (Fincancial Conduct Authority). Financial Services Register Number 586541.
Regulated by the FSA (Financial Services Authority). Regulatory Number SD028.

Max Leverage

30:1 (or up to 500:1 for Professional clients, click here to find out more about professional client status)
Up to 500:1

Country

United Kingdom
Seychelles

Negative Balance Protection

Yes
Yes

Back to Blog

GBPCHF & AUDCHF Looking at Long-Term Resistance

   

Welcome to this week’s Market Blast Technicals where we will look at AUDCHF, Silver (XAGUSD), NZDUSD, and GBPCHF.

 

It was easy to spot resistance this morning on GBPCHF on the 4-Hour chart and we see what might be an ascending triangle forming.Screenshot 2020-11-24 at 11.34.50

Also, if we zoom out to the Daily chart we see that the current price of 1.217 is a key level and if we look at out post-COVID Fibonacci we see that we are at the 61.8% level.

If we break above we have a long way to go.

If we break below, watch out for support but either way, we have some good opportunities here.

Last week we looked at NZDUSD on the Weekly chart and, as we thought, price broke resistance from almost 2 years ago and is at a key level from 4 years ago.Screenshot 2020-11-24 at 11.35.11

We are continuing to watch Silver on the Daily chart and price action is consolidating but short-term bearish action may see price fall to support at around $22.70.

As well, we can see the Fibonacci support near the same price at the 38.2% level.Screenshot 2020-11-24 at 11.35.20

We saw Swiss franc weakness earlier and looking at AUDCHF we see this ascending triangle and price action at resistance.

If we zoom out to the Daily chart we see resistance from June of this year so we may have some room to move if you are long on AUDCHF.

Thanks for watching and don’t forget to subscribe to our YouTube Channel and register on the Valutrades website to get notifications on new content as it happens.

That’s all for now.  Happy trading with Valutrades and we will see you next week.

CFDs and FX are leveraged products and your capital may be at risk.

Disclaimer:

The information provided herein is for general informational and educational purposes only. It is not intended and should not be construed to constitute advice. If such information is acted upon by you then this should be solely at your discretion and Valutrades will not be held accountable in any way.

Comments