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Bit Digital rose 16.4% in premarket trading, and its stock price has soared nearly 75% in the past six trading days.The onshore RMB closed at 7.1732 against the U.S. dollar at 16:30 on July 8, up 15 points from the previous trading day.German Finance Minister: If we cannot reach a fair trade agreement with the United States, the EU is ready to take countermeasures.Director-General of the United Nations Conference on Trade and Development: Tariffs will have a long-term impact on the US economy.On July 8, market analyst Jeremy Boulton said that although the US dollar has fallen this year, the decline has been limited. The decline in its trade-weighted exchange rate is about 38.2% of the increase from 2021 to 2025. In other words, the US dollar has only reached a small correction target this time, which may pave the way for a larger increase-and the liquidation of positions that bet on the decline of the US dollar may boost this wave of gains. In the longer term, this years decline is even more insignificant, equivalent to less than 23.6% of the increase from 2011 to 2025. This correction has not even reached the first and mildest correction target of the underlying trend. When the US dollar peaked in January 2025, the trend was overextended and traders generally held long positions. This correction has alleviated the overbought situation, so for those who have deviated from the trend (the US dollar is long-term bullish), it may be wise to take hedging measures to guard against the possible impact of the restart of the trend.

The chances of a bearish reversal for the USD/CHF rise as bears test the 200-EMA

Daniel Rogers

Jul 19, 2022 11:59

 截屏2022-07-19 上午10.03.58.png

 

The USD/CHF pair has gone sideways after exhibiting volatile volatility on Monday. The asset will likely trade sideways until volatility decreases since it hits resistance at 0.9780. As a result of failing to exceed the crucial resistance level of 0.09000, the asset saw a substantial fall.

 

A major negative reversal was foreseen by the formation of the Double Top chart pattern when the price failed to maintain its position above Tuesday's high at 0.9859. The aforementioned chart pattern frequently indicates waning demand at high levels. A negative reversal is now more likely as a result of the development of a selling tail around high levels.

 

Following the formation of a double top, the asset is forming an initiative selling structure, which points to the entry of those investors who start short positions after a bearish bias has been created. At 0.9767, the major is forming an initiative structure inside the 200-Exponential Moving Average (EMA) border, demonstrating that market participants are respecting the significant EMA.

 

However, the Relative Strength Index (RSI) (14), which signals an oncoming consolidation, has shifted into a range between 40.00 and 60.00. The asset will reach the July 5 top of 0.9705 with a sharp decrease below the July 13 low of 0.9758. If the latter barrier is breached, the asset will be more vulnerable to losses up to the 1. July high of 0.9642.

 

Alternatively, following Wednesday's violation of the 0.9827 high, the dollar bulls may defend the double top pattern. The asset will be propelled by this to its top on Thursday of 0.9886 and then encounter psychological resistance at 1.0000.


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