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USD CHF Technical Analysis - USD CHF Trading: 2020-08-24
USD/CHF Technical Analysis Summary
Above 0.92
Buy Stop
Below 0.9
Stop Loss
| Indicator | Signal |
| RSI | Buy |
| MACD | Buy |
| MA(200) | Neutral |
| Fractals | Neutral |
| Parabolic SAR | Sell |
| Bollinger Bands | Neutral |
USD/CHF Chart Analysis
USD/CHF Technical Analysis
On the daily timeframe, USDCHF: D1 was unable to overcome the psychological support level of 0.9. The pair began to rise and approached the downtrend resistance line. It must be broken upward before opening a position. A number of technical analysis indicators formed signals for further growth. We do not exclude a bullish move if USDCHF rises above its last upper fractal and Parabolic signal: 0.92. This level can be used as an entry point. The stop loss can be placed below the last bottom fractal and minimum since January 2015: 0.9. After opening a pending order, we move the stop loss following the Bollinger and Parabolic signals to the next fractal low. Thus, we change the potential profit/loss ratio in our favor. After the transaction the most risk-averse traders can switch to the four-hour chart and set a stop loss, moving it in the direction of the bias. If the price meets the stop loss (0.9) without activating the order (0.92), it is recommended to delete the order: some internal changes in the market have not been taken into account.
Fundamental Analysis of Forex - USD/CHF
Industrial production in Switzerland in Q2 2020 suffered the maximum drop in the past 7 years. Will the USDCHF quotes increase?
The upward movement of this currency pair signifies the weakening of the Swiss franc against the US dollar. Industrial production in Switzerland fell by 8.6% in the second quarter of this year. The current SNB rate is -0.75% since January 2015. SNB representatives have previously expressed dissatisfaction with the excessive strengthening of the Swiss franc. The Fed's rate is positive and equals 0.25%. The Fed’s July briefing raised doubts about the need to maintain a monetary policy that is too lenient. Of course, the Fed’s rate hike was not discussed, but the very fact of such concerns supported the US dollar index.
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