- Market News
Recent Market News Headlines
Bond Market Selloff Drives Sharp European Stock Losses
Surging bond yields and climbing oil prices hammered European stocks at the open Thursday, deepening the global risk-off selloff further.
Eurozone Manufacturing PMI Hits Four-Year High in September
Eurozone manufacturing activity reached a four-year high in September, but accelerating price pressures complicated the outlook for ECB policy decisions.
Fed Hike and Yields Drive Thursday’s Global Markets
A unanimous Fed rate hike and climbing Treasury yields set the tone for Thursday's volatile global trading session ahead.
European Stocks Rally as Bond Markets Hold Steady
European stocks opened firmly higher Thursday as stabilising bond yields and falling oil prices gave markets room for a relief bounce.
- Market News
Recent Market News Headlines
Bond Market Selloff Drives Sharp European Stock Losses
Surging bond yields and climbing oil prices hammered European stocks at the open Thursday, deepening the global risk-off selloff further.
Eurozone Manufacturing PMI Hits Four-Year High in September
Eurozone manufacturing activity reached a four-year high in September, but accelerating price pressures complicated the outlook for ECB policy decisions.
Fed Hike and Yields Drive Thursday’s Global Markets
A unanimous Fed rate hike and climbing Treasury yields set the tone for Thursday's volatile global trading session ahead.
European Stocks Rally as Bond Markets Hold Steady
European stocks opened firmly higher Thursday as stabilising bond yields and falling oil prices gave markets room for a relief bounce.
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Mini Charts
- CHF/JPY trades above the SMA 30 on the H4 chart.
- The pair had a bearish correction and seems to have found its support.
- The H1 chart has found its support and headed towards the upside.
- Intraday minor charts are yet to find their direction.
CHF/JPY – Technical Analysis- H4 Chart
The chart shows that the price had bounced twice at the support of the SMA 30. At the last bounce, it produced a bullish engulfing candle and made a strong move towards the North by producing consecutive bullish candles. It had a strong rejection at a pivotal resistance as well. Upon producing a bearish candle, it continued its move with one more candle. As of writing, it has been on consolidation. The buyers may look to go long on bullish reversal signal. The price may find its resistance again around 171.700.
On the contrary, the sellers are to wait for the chart to produce a strong bearish reversal pattern to look for short opportunities based on this chart.
Price Action Analysis- H1 Chart
The chart shows that it made a strong bearish move upon producing a bearish engulfing candle. The price moved towards the South with consecutive bearish candles. The level of 170.650 has held the price as a support and produced a bullish Marubozu candle. Since then, it has been gradually heading towards the North. The buyers may look to go long in the pair upon having bullish reversal signal from the value areas.
On the contrary, if the price breaches the support, the sellers may look to go short following breakout confirmation and a bearish reversal signal. In that case, the price may find its support around 170.000.
Written by: Md Tareq Sikder, Senior Analyst Forex Prop News
Contact and follow Tareq on Twitter: @tareqfpn
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Mini Charts
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Bond Market Selloff Drives Sharp European Stock Losses
Surging bond yields and climbing oil prices hammered European stocks at the...
Eurozone Manufacturing PMI Hits Four-Year High in September
Eurozone manufacturing activity reached a four-year high in September, but accelerating price...
Fed Hike and Yields Drive Thursday’s Global Markets
A unanimous Fed rate hike and climbing Treasury yields set the tone...
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European stocks opened firmly higher Thursday as stabilising bond yields and falling...
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