For Traders

Analytical Reviews

Trading plan

01.03.202110:57 Forex Analysis & Reviews: USD/CHF Set To Continue Trading North!

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

USD/CHF is trading at 0.9097 level and is on track to reach 0.9101 former high. Technically, the bias is bullish, so the pair could approach and reach fresh new highs soon. The USDX's aggressive bounce back helped the greenback to appreciate versus all its rivals and not only against the Swiss Franc.

The USD has taken full control after some positive US data reported on Thursday. The US is to release the ISM Manufacturing PMI, Final Manufacturing PMI, Construction Spending, and the ISM Manufacturing Price later today.

If the actual readings come out in line with expectations or better, this could boost USD/CHF. The Swiss Franc resumed its drop after the Switzerland Retail Sales decreased unexpectedly by 0.5%.

USD/CHF Towards New Highs!

USD/CHF retested the Pivot Point (0.9044) level and now is determined to resume its swing higher. Is traded above the first warning line (WL1) signaling a new upside momentum towards the second warning line (WL2).

Technically, it should increase after breaking above the first warning line (WL1). The price has retreated to test the broken WL1 and now it could jump way higher.

Trading Tips!

Buy USD/CHF if the price closes the current H4 chart above 0.9101. The R1 (0.9141), WL2, and R2 (0.9199) could be used as immediate upside targets. A larger growth will be suggested by a valid breakout above 0.92 psychological level.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.