Current trend
On Friday, USD strengthened against CHF, as investors are fixing the profit after a significant growth of the pair on Thursday.
On Friday, USD was under pressure from President of the United States of America Trump's decision to impose 25% duties on Chinese goods for a total of USD 50 billion. According to The Wall Street Journal, the President made this decision on Thursday after a meeting with representatives of the National Security Agency, the Department of the Treasury and the Department of Commerce.
Today, the pair is trading in different directions, and investors expect new drivers to appear on the market. On Monday, the traders will pay attention to Fed's William Dudley speech, FOMC Member Duke Speech and others. In addition, ECB President Draghi's Speech is expected in the evening.
Support and resistance
On the daily chart, Bollinger bands are growing insignificantly. The price range is widening, however, not as fast as the "bullish" is developing. MACD indicator grows, keeping a moderate buy signal (the histogram is above the signal line). Stochastic grows near its highs, which reflects that USD is in the very short term.
It is better to wait until the signals are clear.
Resistance levels: 1.0000, 1.0039, 1.0100.
Support levels: 0.9942, 0.9910, 0.9884, 0.9850.
Trading tips
Long positions can be opened after the breakout of the level of 1.0000 with the targets of 1.0075–1.0100 and stop loss 0.9950.
Short positions can be opened after the breakdown of the level of 0.9942 to 0.9884 or 0.9850. Stop loss is not far as 1.0000.
Implementation period: 2–3 days.
Trade
Scenario
Timeframe Intraday
Recommendation BUY STOP
Entry Point 1.0010
Take Profit 1.0075, 1.0100
Stop Loss 0.9950
Key Levels 0.9850, 0.9884, 0.9910, 0.9942, 1.0000, 1.0039, 1.0100
Alternative scenario
Recommendation SELL STOP
Entry Point 0.9935
Take Profit 0.9884, 0.9850
Stop Loss 1.0000
Key Levels 0.9850, 0.9884, 0.9910, 0.9942, 1.0000, 1.0039, 1.0100
On Friday, USD strengthened against CHF, as investors are fixing the profit after a significant growth of the pair on Thursday.
On Friday, USD was under pressure from President of the United States of America Trump's decision to impose 25% duties on Chinese goods for a total of USD 50 billion. According to The Wall Street Journal, the President made this decision on Thursday after a meeting with representatives of the National Security Agency, the Department of the Treasury and the Department of Commerce.
Today, the pair is trading in different directions, and investors expect new drivers to appear on the market. On Monday, the traders will pay attention to Fed's William Dudley speech, FOMC Member Duke Speech and others. In addition, ECB President Draghi's Speech is expected in the evening.
Support and resistance
On the daily chart, Bollinger bands are growing insignificantly. The price range is widening, however, not as fast as the "bullish" is developing. MACD indicator grows, keeping a moderate buy signal (the histogram is above the signal line). Stochastic grows near its highs, which reflects that USD is in the very short term.
It is better to wait until the signals are clear.
Resistance levels: 1.0000, 1.0039, 1.0100.
Support levels: 0.9942, 0.9910, 0.9884, 0.9850.
Trading tips
Long positions can be opened after the breakout of the level of 1.0000 with the targets of 1.0075–1.0100 and stop loss 0.9950.
Short positions can be opened after the breakdown of the level of 0.9942 to 0.9884 or 0.9850. Stop loss is not far as 1.0000.
Implementation period: 2–3 days.
Trade
Scenario
Timeframe Intraday
Recommendation BUY STOP
Entry Point 1.0010
Take Profit 1.0075, 1.0100
Stop Loss 0.9950
Key Levels 0.9850, 0.9884, 0.9910, 0.9942, 1.0000, 1.0039, 1.0100
Alternative scenario
Recommendation SELL STOP
Entry Point 0.9935
Take Profit 0.9884, 0.9850
Stop Loss 1.0000
Key Levels 0.9850, 0.9884, 0.9910, 0.9942, 1.0000, 1.0039, 1.0100