USDCHF: Can Trendline Support Hold the Uptrend?
USDCHF is correcting after being rejected near the upper edge of the rising channel. The decline has brought price back to the lower trendline, which has supported the trend several times before.
USDCHF is correcting after being rejected near the upper edge of the rising channel. The decline has brought price back to the lower trendline, which has supported the trend several times before.
Gold is trading around 4,565 after extending its bullish recovery, supported by continued US Dollar weakness and rising concerns over US debt. This improves gold’s safe-haven appeal and keeps buyers active near the highs.
This XAUUSD 4H analysis focuses on market structure, liquidity, and key FVG reaction zones. The 4100–4300 area represents an important internal liquidity and reaction range, while the marked supply and demand zones highlight potential areas where price may respond. The analysis follows an SMC approach: identify liquidity, monitor structure, wait for a sweep or displacement, and seek BOS/CHoCH confirmation before considering an entry.
Silver has been building a strong base for several weeks after finding support around the $55–56 zone. The prolonged consolidation has now resulted in a decisive breakout above the key $62.3–62.5 resistance zone, suggesting a potential shift from accumulation to a new bullish expansion phase.
The US Dollar Index (DXY) is hovering just above a three-month low around 98.50–98.90 after a sharp midweek decline. Today’s focus: Preliminary August Manufacturing and Services PMI from Germany, Eurozone, UK, and the US. These can move EUR/USD, GBP/USD, and USD pairs significantly.
As investors saw the U.S. Treasury's bond buyback ploy as only a short-term solution and voiced new worries about officials' increasingly interventionist stance, the dollar was on shaky ground and was poised for a weekly loss on Friday.