USDCHF Technicals: The Buyers And Sellers Are Testing A Key Area That Could Shift The Bias

Forex

Technical Analysis

Summary:

What levels should traders watch in the short term in the USDCHF that may shift the bias for buyers and sellers?

The USDCHF extended higher last week, pushing into the extreme zone from November and breaking above the swing-area ceiling between 0.8066 and 0.8076. That upside momentum carried into today as the pair approached the next target at 0.81027, but once again sellers leaned against the level, stalling the advance and capping the rally.

The subsequent move lower dragged the price back below the 0.8066–0.8076 swing area, but buyers stepped in and pushed it back toward the upper boundary. Still, sellers are defending 0.8076, trying to keep a lid on the pair. If that ceiling continues to hold, a rotation back below 0.8066 could trigger additional downside momentum as the failed break invites disappointment from buyers. The next key downside target sits near 0.80295, where the rising 100-bar MA on the 4-hour chart is positioned.

To the upside, a break above 0.8076 would shift the bias back toward today's earlier high at 0.81027. Above that, traders would look back toward the November peak at 0.81235.

Source: ForexLive

Risk Warnings and Disclaimers

You understand and acknowledge that there is a high degree of risk involved in trading. Following any strategies or investment methods may lead to potential losses. The content on the site is provided by our contributors and analysts for information purposes only. You are solely responsible for determining whether any trading assets, securities, strategy, or any other product is suitable for investing based on your own investment objectives and financial situation.

Add to Favorites

Samantha Luan

Political

Economic

President Donald Trump said no television networks should be able to expand, citing the potential growth of what he considers left-wing news networks.

"If this would also allow the Radical Left Networks to 'enlarge,' I would not be happy. ABC & NBC, in particular, are a disaster - A VIRTUAL ARM OF THE DEMOCRAT PARTY," Trump said in a social media post Sunday. "They should be viewed as an illegal campaign to the Radical Left. NO EXPANSION OF THE FAKE NEWS NETWORKS. If anything, make them SMALLER!"

Trump's post was in response to a Newsmax story that said Federal Communications Commission head Brendan Carr is moving to give television networks massive reach and push through a merger of Nexstar Media Group and Tegna Inc.

The FCC didn't respond to a request for comment on Sunday evening.

Trump has ramped up his long-running attacks on the media, while his administration seeks to limit press access. After late-night comedian Jimmy Kimmel remarked on conservative influencer Charlie Kirk's death, Carr threatened to revoke the broadcast licenses of ABC-owned local stations and its affiliates.

Trump's post comes as Time Warner Inc. is exploring a potential sale. A sale is certain to bring more turmoil, at least in the short run, for a company looking at its fourth owner in seven years.

AT&T Inc. purchased Time Warner from its shareholders in 2018 to diversify into film and TV production. Four years later, WarnerMedia was merged into Discovery Inc., creating the current iteration.

With consumers and advertisers shifting from traditional TV to streaming, Warner Bros. has struggled under its current leadership. But with the recent takeover speculation, the shares have nearly tripled over the past two months. It now has a market value of $57 billion and about $33.5 billion in debt.

Trump last week renewed his call for the FCC to revoke station licenses for ABC after a reporter for the network asked about his handling of files related to disgraced financier Jeffrey Epstein.

Source: Bloomberg Europe

To stay updated on all economic events of today, please check out our Economic calendar

Risk Warnings and Disclaimers

Add to Favorites

Adam

Economic

Stocks in London are set to open higher on Monday with sentiment lifted by dovish remarks from a US central banker, while focus turns to the UK government's budget later this week.

IG says futures indicate the FTSE 100 to open up 48.0 points, 0.5%, at 9,587.71 on Monday. The index of London large-caps closed up 12.06, 0.1%, at 9,539.71 on Friday.

Sterling rose to USD1.3107 early Monday, from USD1.3084 at the time of the London equities close on Friday. The euro perked up to USD1.1525 from USD1.1501, while against the yen, the dollar faded slightly to JPY156.64 from JPY156.69.

The yield on the US 10-year Treasury was unmoved at 4.07%. The 30-year yield was similarly unmoved at 4.71%.

In New York on Friday, the Dow Jones Industrial Average added 1.1%, the S&P 500 rose 1.0% and the Nasdaq Composite climbed 0.9%.

In China on Monday, the Shanghai Composite was up 0.2%, while the Hang Seng Index in Hong Kong jumped 2.0%. The S&P/ASX 200 in Sydney rose 1.3%.

Financial markets are closed in Tokyo.

Sentiment was lifted by dovish remarks from New York Fed President John Williams.

"NY Fed President John Williams jumped in and poured some cold water on the overheated market by bringing the possibility of another near-term cut back to the table. Everyone heard that as a December rate cut, of course. The US 2-year yield fell back to 3.50% and the probability of a December cut jumped to 70% — from below 29% earlier in the same week," Swissquote analyst Ipek Ozkardeskaya commented.

"The nerves are calmer this morning, but not fully so. Japanese markets are closed, so we can't look at SoftBank to gauge how investors feel about the whole AI situation. At this point, it's safe to say that AI will outlive any potential market meltdown. But the short term looks a bit fragile for our favourite tech bros."

The trading week in the US will be shortened. Financial markets in New York are closed on Thursday for Thanksgiving, and only reopen for an abbreviated day on Friday.

In the UK, focus turns to the budget, which will be delivered on Wednesday.

Pepperstone analyst Michael Brown commented: "We had 3 UK data releases on Friday, and all 3 were worse than expected – retail sales fell in October for the first time since May, the YTD deficit in October stood at its second highest on record after 2020, and November's 'flash' services PMI print fell to a 7-month low. What a cracking backdrop against which Chancellor Reeves will deliver the budget this week."

UK Chancellor Rachel Reeves has pledged to "grip the cost of living" in her budget next week.

In an example of one move aiming to ease the pressure on people's finances, rail fares are to be frozen for the first time in 30 years, saving commuters on more expensive routes more than GBP300 a year.

But at the same time Reeves is widely expected to raise taxes on November 26 in an effort to bridge a multibillion-pound gap in her spending plans.

Writing in The Mirror, the chancellor acknowledged that high prices "hit ordinary families most" and that the economy "feels stuck" for too many.

"That's why in my budget on Wednesday I will take action to grip the cost of living," she said.

Keeping national insurance and income tax thresholds frozen for two further years until April 2030 would raise around GBP8.3 billion a year by 2029–30, according to the Institute for Fiscal Studies.

Reeves is also expected to scrap the two-child benefit cap, in a move that could cost more than GBP3 billion.

She is set to add GBP1.3 billion to a grant cutting upfront costs for buyers of electric cars, but is also expected to hit them with a pay-per-mile scheme. And some GBP48 million for 350 new planners to boost government efforts to build 1.5 million new homes is reportedly to come.

A barrel of Brent rose to USD62.71 early Monday, from USD62.15 at the time of the London equities close on Friday. Gold fell to USD4,055.01 an ounce from USD4,073.57.

Monday's global economic calendar has the Ifo business climate report in Germany and the Dallas Fed manufacturing index in the US.

Source: marketscreener

To stay updated on all economic events of today, please check out our Economic calendar

Risk Warnings and Disclaimers

Add to Favorites

Michelle

Political

European Council President Antonio Costa pledged on Monday that the European Union will keep on supporting Ukraine, as he hailed "new momentum" in peace negotiations to end the war triggered by Russia's invasion.

"The European Union is committed to continue providing President Zelenskiy with all the support he needs - diplomatic support, military support, economic support," he told reporters in the Angolan capital Luanda, after chairing a meeting of EU leaders on Ukraine on the sidelines of a summit with the African Union.

"This concerns in particular, financial support to Ukraine," Costa added, recalling that EU leaders agreed last month to cover Ukraine's financial needs for the next two years.

"We committed to deliver ... and we will deliver at the December European Council," he said.

The European Commission has suggested using Russian assets frozen in Europe to fund a "reparation loan" for Ukraine, but leaders have not yet agreed to pursue that path.

Belgium, which holds the bulk of the assets in the Euroclear depository, has insisted that any such move must be legally sound and the risks should be shared among EU members.

"There is new momentum in peace negotiations. Yesterday's meeting in Geneva between the United States, Ukraine, the European Union institutions and European representatives marked significant progress," Costa said.

He said "issues remain to be resolved" but "the direction is positive".

Source: Reuters

Risk Warnings and Disclaimers

Add to Favorites

Adam

Commodity

Market Overview

WTI crude futures extended their decline on Monday, sliding to a one-month low near $57–$58 per barrel and marking a fourth straight session of losses. The downturn comes as geopolitical negotiations show signs of progress, raising the possibility of eased restrictions on oil flows from key producers. Any relaxation of sanctions could return additional barrels to a market already anticipating a notable supply surplus in 2025.

WTI is now down more than 5% for the month and is on track for its fourth consecutive monthly drop, the longest losing streak since 2023, underscoring how shifting geopolitical dynamics are reshaping energy market sentiment.

Natural Gas Price Forecast

Natural Gas (NG) Price Chart

Natural gas is trading around $4.55, holding within a steady rising channel that has guided price action for most of November. The lower boundary near $4.40 continues to act as firm support, with buyers stepping in each time price dips toward the trendline. The market remains above both the 20-EMA and 200-EMA, keeping the broader structure constructive despite short-term swings.

The RSI sits near mid-range, showing neutral momentum, though higher lows on the indicator hint at underlying strength. If price stays above $4.46, a move toward $4.67 and $4.81 is possible. A break below $4.40 would weaken the channel and open the door toward $4.24.

WTI Oil Price Forecast

WTI Price Chart

WTI crude is holding near $58.20 after a sharp drop that pushed price into the lower end of a broad contracting structure. On the 4-hour chart, oil continues to trade inside a large descending wedge, with lower highs from $60.83 and higher lows from $55.96, showing a slow squeeze in volatility.

The rebound from $57.41 came with several long wicks, showing buyers reacting at support, though price remains below both the 20-EMA and 200-EMA, which keeps short-term momentum soft. The RSI has lifted from oversold levels but still sits below 45, indicating recovery without strength.

If price holds above $57.41, a move toward $58.65 is possible. A break below $57.41 exposes $56.66.

Brent Oil Price Forecast

Brent Price Chart

Brent crude is trading near $62.10, holding just above the recent low at $61.59 after slipping out of a broad contracting structure. On the 4-hour chart, price remains under both the 20-EMA and 200-EMA, keeping momentum tilted to the downside.

The break below the rising trendline confirms weakening demand, while repeated lower highs from $65.03 show sellers staying in control.

The RSI sits below 40, pointing to soft momentum without signs of reversal. If price holds above $61.59, a short bounce toward $63.00 is possible. Failure to reclaim that level exposes the next supports at $60.75 and $60.06.

Source: fxempire

Risk Warnings and Disclaimers

Add to Favorites

Adam

Economic

Futures linked to the main U.S. averages tick up, with the trajectory for Federal Reserve interest rates in focus. Oil prices slip as the United States and Ukraine hold talks over a possible plan to end the war with Russia. Life sciences group Agilent is due to report its latest results, while PC maker Lenovo is reportedly stockpiling memory chips amid an artificial intelligence-driven supply squeeze.

Futures higher

U.S. stock futures pointed higher on Monday, as investors assessed the chances of a Federal Reserve interest rate reduction next month.

By 02:48 ET (07:48 GMT), the Dow futures contract had risen by 153 points, or 0.3%, S&P 500 futures had climbed by 41 points, or 0.6%, and Nasdaq 100 futures had increased by 213 points, or 0.9%.

Get more stock picks by Wall Street analysts by upgrading to InvestingPro - get 55% off today

Although expectations have grown that the Fed could roll out another rate cut at its final policy meeting of the year in December, officials have largely signaled a lack of unity over the matter. Some policymakers have argued that a fall in borrowing costs may be needed to bolster a flagging labor market, although others have cautioned against such a move, citing the likelihood that the recent federal government shutdown will leave the Fed with only outdated, stale economic data.

Still, markets widely see a more than 70% that a 25-basis point rate drawdown is coming, according to CME’s FedWatch Tool. The Fed previously unveiled equally-sized cuts in September and October.

These bets boosted the main averages on Wall Street on Friday. But all three of the indices notched weekly losses, dragged down by fears over frothy technology sector valuations and the sustainability of heavy spending on artificial intelligence infrastructure.

Oil slips amid Ukraine peace talks

Oil prices inched down, with analysts weighing both the outlook for Fed policy and the possibility of a U.S.-brokered Russia-Ukraine peace deal being reached.

By 03:09 ET, Brent crude futures had dipped by 0.4% to $61.70 a barrel, while West Texas Intermediate was mostly unchanged at $57.81 per barrel.

The United States and Ukraine were anticipated to carry on negotiations over a potential peace agreement which would bring a halt to the latter’s prolonged war with Russia. Both sides said on Sunday they would make changes to an initial proposal put forward by U.S. President Donald Trump, which critics have claimed was too favorable for Russia.

Trump previously urged Ukraine to sign on to the peace plan by Thanksgiving later this week, but U.S. Secretary of State Marco Rubio has suggested the deadline was not unmovable.

"Developments related to a potential peace agreement are important for the oil market, particularly amid significant uncertainty about the impact of recently imposed sanctions on Russia’s [oil majors] Rosneft and Lukoil," analysts at ING said in a note.

"Clearly, a peace deal increases the likelihood that sanctions will be lifted, or at least not enforced strictly."

Gold under pressure

Gold prices edged down, pressured by improving risk appetite following the rebound in wagers on a December interest rate cut by the Fed.

A recovery in equities and other risk-driven markets largely sapped demand for gold, as did reports around Russia-Ukraine ceasefire talks.

But lingering concerns over global fiscal health and a diplomatic spat between China and Japan offered some support to gold, with the yellow metal hovering above $4,000 an ounce. Traders were also gearing up for a barrage of key U.S. economic readings this week.

Spot gold was steady at $4,064.70/oz, while gold futures for December fell 0.4% to $4,097.80/oz by 03:48 ET.

Agilent to report

On the earnings calendar, investors will be keeping tabs on an ebbing stream of quarterly reports this week.

Life sciences firm Agilent Technologies will highlight the agenda on Monday, with observers keen to see how the company is grappling with tepid order levels over the last two years. Still, there have been signs that demand for its tools and services needed to develop new medicines has stayed resilient.

In August, the firm raised its annual revenue outlook to between $6.91 billion and $6.93 billion, up from $6.73 billion to $6.81 billion previously.

Full-year profit was also tipped to be $5.56 to $5.59 per share, versus a prior projection of $5.54 to $5.61 a share.

For its fiscal fourth quarter, Agilent is tipped to post adjusted earnings per share of $1.59 on net revenue of $1.83 billion, Bloomberg consensus estimates have shown.

Lenovo stockpiling PC memory amid AI supply squeeze - Bloomberg

Lenovo Group, the world’s largest PC maker, is stockpiling memory chips amid an unprecedented supply squeeze due to the artificial intelligence industry, CFO Winston Cheng told Bloomberg TV on Monday.

The company is stockpiling component inventories that are roughly 50% higher than usual, Cheng said, as outsized memory demand from AI data centers and cloud hardware tightened memory chip supplies and ramped up prices.

This trend is also expected to raise the prices of consumer electronics, which could hurt demand for Lenovo’s products in the coming quarters.

But Cheng said Lenovo also sees an opportunity to capitalize on its high inventories, and will aim to avoid passing on costs to its consumers.

The group clocked a mild decline in its September quarter profit last week, as increased spending on AI partially offset strong PC and device sales.

Source: investing

To stay updated on all economic events of today, please check out our Economic calendar

Risk Warnings and Disclaimers

Add to Favorites

Warren Takunda

Economic

The United States' Trade Representative Jamieson Greer and Secretary of Commerce Howard Lutnick are arriving in Brussels on Monday for what is expected to be a tense showdown with EU trade ministers.

After months of recriminations on both sides of the Atlantic over the implementation of this summer’s trade deal, the EU and the US are now expected to confront their most contentious differences head-on.

Washington will press to fast-track the deal’s rollout while pushing the bloc to scrap EU legislation it considers unfair to US companies, while Brussels will seek additional exemptions from the 15% US tariffs on its exportsand warn its counterparts about the potential fallout of US investigations into European products.

Commission president Ursula von der Leyen and US president Donald Trump clinched a trade deal in July after weeks of negotiations in which the EU tried to minimise the impact of Washington’s newly aggressive trade agenda. In the end, von der Leyen was able to strike a deal that EU-produced goods arriving in the US would be taxed at a rate of 15% while Brussels lifted its duties on most US products.

Presented by the Commission as the most advantageous deal it could get, the agreement has been widely criticised across the EU. The European Parliament, which has to vote on the Commission’s proposal to remove tariffs on US goods, is set to amend the deal and is discussing a 18-month suspension clause.

The US is complaining that the EU’s legislative agenda is moving too slowly. EU lawmakers will vote on the text in January and they should agree on a common text with EU member states next March or April – a timescale radically longer than the Trump administration's preference.

Greer raised the issue in a meeting with European Parliament president Roberta Metsola last Friday.

EU faces criticism “with good confidence”

The EU is ready to face US criticism “with good confidence” an EU diplomat said, noting that the legislative process in Brussels could have taken a lot longer.

“To my knowledge, the US administration has not taken its decisions through Congress, so it doesn't take quite as long in the US,” another EU diplomat said, implyingthat the US trade agenda was mainly decided from the White House.

The EU plans to show unity by handing over a list of proposed exemptions to the 15% tariffs they hope to obtain from the Americans. The list includes products such as wines, spirits and pasta.

“American friends are very much aware of where the European Union would like to see tariff reductions,” the same EU diplomat said.

For the Commission, which has competence to negotiate with Washington, the list of exemptions “remains a priority,” according to its deputy chief spokesperson, Arianna Podesta.

The EU is also concerned about the future of its steel exports. The US already imposes 50% tariffs on steel and aluminium, and has extended them to some 407 derivatives. A consultation already underway may see further derivatives added to the list.

As EU diplomats see it, adding tariffs on steel derivatives would go against the whole “spirit” of this summer's agreement. The same goes for investigations still open by Washington into products such as pharmaceuticals, semiconductors and medical devices.

EU investments will also be on the agenda. Greer and Lutnick will meet in the afternoon, EU business representatives with EU Trade Commissioner Maroš Šefčovič.

The trade deal includes an EU pledge of €600 billion in investments in the US even though Brussels has no direct control over the private sector, which is the only force capable of actually delivering those investments.

Monday’s meetings will not be an easy task for the Europeans, as US pressure has been unrelenting since Donald Trump returned to the White House, with the president repeatedly threatening new tariffs or targeting EU legislation he deems too restrictive for US companies.

However, the EU has so far not looked intimidated, and is continuing to enforce the digital legislation that Trump and his administration have condemned.

In the last few weeks, Brussels has launched antitrust investigations against Amazon and Microsoft and hit Google with a €2.95 billion for abusing its dominant position in the advertising technology industry – moves that have not gone unnoticed in Washington.