21/10/22 Daily Forex Strength Weakness Video

Fri 21st October 2022

Today, Our Daily Forex Strength Weakness Video will focus on:

• USDCHF
• EURJPY

Charts Provided by Charles Clifton

Daily Analysis By Jon Kibbler

USDCHF Price Trades Through Key Highs?

In today’s video update we focus on two forex pairs. The USDCHF and EURJPY. These pairs will be our focus today as the live forex strength and weakness tables show us that the USD (S1), EUR (S3), JPY (W1), CHF (W3).

The top forex pair to watch is USDCHF as the price trades through the key highs of 1.0050. The USD has remained strong with Federal Reserve members calling for more aggressive hikes. This language from Fed members should fuel the USD further which in turn could see USDCHF prices rally higher. 

The weekly chart shows the price breaking through the key highs which could see a move to the next resistance level at 1.0250. On the lower time frame H1 the price has retested the previous minor highs which could see buyers re-enter the market. 

Technical Observations

• The USD is S1 on both tables and the CHF is W3.
• Price is currently trading above the key highs of 1.0050.
• Federal Reserve members are calling for more aggressive hikes in the upcoming meeting.
• Next key resistance is 1.0250.
• Price is retesting the H1 highs which could offer retest opportunities.
• A break above the daily candle highs will invite buyers to trade higher.