Technical outlook and ideas for Forex pairs
We have outlooked several promising Forex pairs and the result can surprise you!
USD/CHF: levels for trading
Information is not investment advice
The decline of USD/CHF from February highs to March lows was epic. The pair reached support at 0.9185 (2018 low) and turned up on the W1 (notice that the reversal candlestick at this timeframe still hasn’t been formed) and the D1. The next obstacles on the upside lie in the 0.9400/15 area and at 0.9440 (38.2% Fibonacci). The advance above the latter is needed to open the way up to 0.9515 (50% Fibo).
The United States will release PPI figures at 14:30 MT time. According to the forecast, the data will worsen in comparison with the previous release. If this scenario turns out to be true, USD/CHF will test support at 0.9325/00. The next support is at 0.9245. Higher than expected numbers and confidence in the efficiency of the anti-coronavirus measures are needed to push the USD above the mentioned resistance levels.
Trade ideas for USD/CHF
BUY 0.9455; TP 0.9515; SL 0.9440
SELL 0.9295; TP 0.9245; SL 0.9310
SELL 0.9405; TP 0.9360; SL 0.9420
Similar
Another EUR/USD Trade!
4H Chart Daily Chart We sent out a signal yesterday to long EUR/USD between 1…
New EUR/USD Trade
4H Chart Daily Chart EURUSD declined back yesterday after trying to test its 1…
Popular
European Currencies Ahead of the Banks' Statements
On Thursday, the 2nd of February, the Bank of England will publish its report concerning interest rates and inflation data for the Eurozone. Professionals and investors anticipate that Andrew Bailey’s lead team of policy makers will likely raise interest rates to 4%; the highest in over a decade, for the tenth time in a row.
Will the FOMC Surprise the Markets?
The first FOMC meeting comes after a buildup of anticipation from traders and investors alike, as the markets await what posture the Fed will take regarding the interest rates; would there be a hike or a cut in interest rates? Recall that the Federal Open Market Committee had previously ended the year 2022 with a 50bps hike, and an indication from Powell, the committee chairman, that the Fed could consider raising interest rates by 75bps in the course of the year 2023.
What awaits the Oil Market in February?
Western countries are trying to find other options for oil and gas supplies after a 10th package of sanctions, which will put more pressure on Russian oil and decrease global oil supply. Italy, for example, is in talks with Libya.
Choose your payment system
