USD CHF Technical Analysis | USD CHF Trading: 2020-01-27 | IFCM
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USD CHF Technical Analysis - USD CHF Trading: 2020-01-27

USD/CHF Technical Analysis Summary

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Strong SellSellNeutralBuyStrong Buy

Above 0,973

Buy Stop

Below 0,961

Stop Loss

Mary Wild
Senior Analytical Expert
Articles 2058
IndicatorSignal
RSI Buy
MACD Buy
Parabolic SAR Buy
Bollinger Bands Buy
MA(200) Neutral

USD/CHF Chart Analysis

USD/CHF Chart Analysis

USD/CHF Technical Analysis

The USDCHF bounced off the lower boundary of the neutral range and overcame the line of the short-term downtrend. Now it is trying to move towards the upper boundary of the neutral range. Some indicators formed buy signals.

The bullish momentum may continue if the USDCHF exceeds the last fractal high at 0.973. This level can be used as an entry point. The initial stop loss may be placed below the last fractal low, the minimum since September 2018 and the Parabolic signal at 0.961. After opening the pending order, we shall move the stop to the next fractal low following the Bollinger and Parabolic signals. Thus, we are changing the potential profit/loss to the breakeven point. More risk-averse traders may switch to the 4-hour chart after the trade and place there a stop loss moving it in the direction of the trade. If the price meets the stop level (0.961) without reaching the order (0.973), we recommend closing the position: the market sustains internal changes that were not taken into account.

Investors do not exclude foreign exchange interventions by the Swiss National Bank (SNB). Will the USDCHF rise?

Fundamental Analysis of - "}[/T]

Such a movement means the weakening of the Swiss franc against the US dollar. Some market participants noted an increase in cash on the SNB balance sheet and assumed that it might interfere in trades. Swiss National Bank (SNB) Chairman Thomas Jordan stated that his department had not carried out currency interventions with the aim of weakening the franc. He noted that a negative rate of -0.75% was a necessity for Switzerland. Earlier, representatives of the SNB said that the Swiss franc is overvalued. It is now at a 33-month high against the euro. Important economic data will be released in Switzerland this week: trade balance for December, the ZEW and KOF business activity indicators, retail sales and volume of foreign exchange reserves. They may affect the dynamics of the Swiss franc.

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Note:
This overview has an informative and tutorial character and is published for free. All the data, included in the overview, are received from public sources, recognized as more or less reliable. Moreover, there is no guarantee that the indicated information is full and precise. Overviews are not updated. The whole information in each overview, including opinion, indicators, charts and anything else, is provided only for familiarization purposes and is not financial advice or а recommendation. The whole text and its any part, as well as the charts cannot be considered as an offer to make a deal with any asset. IFC Markets and its employees under any circumstances are not liable for any action taken by someone else during or after reading the overview.

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