LMFX PAMM


Forex broker List

  • USD/CHF Forecast – US Dollar Set to Rise Further Vs Swiss Franc

    USD/CHF Forecast – US Dollar Set to Rise Further Vs Swiss Franc

    • – The US Dollar is trading nicely above the 0.9740 support area against the Swiss Franc.
    • – There is a major bullish trend line forming with support at 0.9760 on the hourly chart of USD/CHF.
    • – Today in Switzerland, the Unemployment Rate for Dec 2017 was released by the State Secretariat for Economic Affairs (SECO).
    • – The outcome was around the forecast of 3%, down from the last revised reading of 3.1%.

     

    Swiss Unemployment Rate

    Today in Switzerland, the Unemployment Rate for Dec 2017 was released by the State Secretariat for Economic Affairs (SECO). The market was not looking for a minor decline in the unemployment rate to 3% compared with the previous month.

     

    The actual result was around the forecast of 3%, down from the last revised reading of 3.1%. The US saw the release of the Consumer Credit for Nov 2017 by the Board of Governors of the Federal Reserve. The outcome was positive, as it came in at $27.95B, more than the last revised $19.75B.

     

    The USD/CHF pair is placed nicely above the 0.9740-50 support area and it might continue to move higher.

     

    USD/CHF Technical Analysis

    The US Dollar formed a decent uptrend from the 0.9790 swing low against the Swiss Franc. The USD/CHF pair made good ground and moved above the 0.9720 and 0.9750 resistance levels to settle above the 100 hourly simple moving average.

     

    USD/CHF Technical Analysis US Dollar Swiss Franc

     

    The pair traded as high as 0.9797 recently before correcting below the 38.2% Fib retracement level of the last wave from the 0.9699 low to 0.9797 high. The downside move was protected by a major bullish trend line with support at 0.9760 on the hourly chart.

     

    Moreover, the 50% Fib retracement level of the last wave from the 0.9699 low to 0.9797 high also acted as a support along with the 100 hourly SMA. At present, the pair is moving back higher and it seems like it could soon break the 0.9790 high.

     

    A push above the 0.9790 high could open the doors for a move above the 0.9800 level. More gains above 0.9800 will most likely call for a test of the 0.9840 level.

    Tags: , , , ,

    Like what you've read?

    Join thousands of other traders who receive our newsletter containing; market updates, tutorials, learning articles, strategies and more.

    Previous Entry   Next Entry

  • USD/CHF Forecast – US Dollar Trading Near Crucial Support Vs Swiss Franc

    USD/CHF Forecast – US Dollar Trading Near Crucial Support Vs Swiss Franc

    • – The US Dollar started a correction after trading close to the 0.9840 level against the Swiss Franc.
    • – There is a major bullish trend line forming with support at 0.9770 on the hourly chart of USD/CHF.
    • – Today in Switzerland, the Unemployment Rate for Sep 2017 was released by the State Secretariat for Economic Affairs (SECO).
    • – The outcome was better than the forecast, as there was a decline in the rate from 3.2% to 3.1% (MoM).

     

    Swiss Unemployment Rate

    Today in Switzerland, the Unemployment Rate for Sep 2017 was released by the State Secretariat for Economic Affairs (SECO). The market was not looking for any change in the unemployment rate from 3.2% compared with the previous month.

     

    The actual result was better than the forecast, as there was a decline in the rate from 3.2% to 3.1%. Looking at the Youth unemployment (15 to 24 year olds), there was a decline of -5.6%, and the number of unemployed 50 fell by around 0.5%. The report added that:

     

    133,169 unemployed persons were registered with the regional employment services centers (RAV), 2,409 less than in the previous month. The unemployment rate remained at 3.0% in the reporting month. Compared to the previous month, unemployment fell by 9’506 persons (-6.7%).

     

    The USD/CHF pair is currently trading near a major support at 0.9770, which holds the key for the next move in the near term.

     

    USD/CHF Technical Analysis

    The US Dollar remains in a nice uptrend above 0.9720 against the Swiss Franc. The USD/CHF pair recently traded above the 0.9800 handle and posted a high at 0.9836. Later, a correction was initiated from the mentioned high and the pair moved below the 0.9800 handle.

     

    USD/CHF Technical Analysis US Dollar Swiss Franc

     

    There was a break below the 23.36% Fib retracement level of the last wave from the 0.9711 low to 0.9836 high. However, pair is now trading near a major support area at 0.9770 and the 100 hourly simple moving average.

     

    There is also a major bullish trend line with support at 0.9770 on the hourly chart aligned with the 50% Fib retracement level of the last wave from the 0.9711 low to 0.9836 high. Therefore, the mentioned trend line support at 0.9770 holds a lot of importance for the next move.

     

    If the pair holds above 0.9770 and breaks a connecting bearish trend line at 0.9790, there can be more upsides. Alternatively, a downside break of 0.9770 could push USD/CHF towards 0.9720.

    Tags: , , , ,

    Like what you've read?

    Join thousands of other traders who receive our newsletter containing; market updates, tutorials, learning articles, strategies and more.

    Previous Entry   Next Entry

Join Our Newsletter:

US & Canadian Traders Welcome Make the trade