Published On: Thu, Feb 23rd, 2017

USD/CHF: general review


Current trend

In yesterday’s trading the pair USD/CHF failed to consolidate above the level of 1.0125, however the pair keeps moving inside the rising channel. The Swiss franc strengthened sharply against the US dollar after the publication of the meeting minutes of the Federal Open Market Committee. The contents of the report did not surprise the investors. As noted earlier, FOMC officials believe that rates will rise in the near future, but only a small part said that it will happen at the March meeting. Moreover, in an uncertain situation with the new US president decisions, forecasting future course of monetary policy became more difficult.

Support and resistance

On the daily chart the pair is corrected to the upper boundary of the rising channel. There is a pretty strong resistance level of 1.0125 on the way up. The MACD crossed zero and the signal lines, volumes are growing. Lines of Stochastic are directed upwards. In addition, a doji candlestick pattern has been formed with a support level at 1.0125. The correction within the trading channel is quite possible.

Resistance levels: 1.0125, 1.0180, 1.0300.

Support levels: 1.0085, 1.0045, 1.0000.

Trading tips

Short positions could be opened at the current level of 1.0085 with a target at 1.0000 and stop loss at 1.0120.

Long positions would be relevant above 1.0130 with target at 1.0180 and stop-loss at 1.0100.

Implementation period: 1-2 days.

Аналитика Форекс

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