USD/CHF analysis - "Safe Haven war"

FX:USDCHF   U.S. Dollar / Swiss Franc
Dear traders!

USD and CHF are said to be some of the bests safe-haven assets, that retain value over downturn or "bad" news. Here is my idea on the USD/CHF pair over the coming period of time.

Technical analysis:
As we can see USD/CHF pair has been in a downtrend for a long time with more consolidated movement over the last periods. However, since mid-March, we can observe a continuation of the downtrend, at the same time indicating the power of CHF over USD. In December price was consolidating around a key S/R level of approx. 0.8918 having no power to break it with multiple tests. Recently the price came to the trendline, testing it, however not breaking it.

Fundamental analysis:
As you may already know bot USD and CHF are the most common forex safe-haven assets that people turn to in times of uncertainty or downturn of the economy. Right now besides Covid19 news, we have matters of inflation and US elections that seem to be on the clear path at last. Tomorrow we get an API report, which may influence the USD.

Be patient, watch carefully the area marked by the red ellipse, whether it will break the upper long term trendline or short term lower one. Such movement may suggest future price changes. Most importantly - be patient

Feel free to comment, give your thoughts. Would appreciate it if you like it! (my first published analysis :) )

This post does not provide financial advice. Always do your own analysis. Be aware that only you are responsible for your trades. Trade safe and keep in mind the risk!

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