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USD/CHF Technical Analysis - USD/CHF Trading: 2021-01-08
USD/CHF Technical Analysis Summary
Above 0,892
Buy Stop
Below 0,875
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 approached the resistance line and the upper border of the triangle. 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 movement if USDCHF rises above the last upper fractal and the Parabolic signal: 0.892. This level can be used as an entry point. We can place a stop loss order below the 6-year low: 0.875. After opening a pending order, we move the stop loss to the next fractal low following the Bollinger and Parabolic signals. 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 (0.875) without activating the order (0.892), 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
The Democrats' victory in the US Senate elections in Georgia strengthened the greenback. Will the USDCHF quotes continue to grow?
The upward movement of the currency pair means the strengthening of the US dollar against the Swiss franc. Investors believe that the corporate tax hike planned by the new US Democrat, Joe Biden, will reduce some of the pressure on the dollar by increasing state budget revenues. The yield on 10-year US government bonds rose to 1.08% per annum from 0.9% in early 2021. On Friday, January 8, both the US (Non-Farm Payrolls) and Switzerland will publish data on the labor market for December and Swiss foreign exchange reserves. These indicators can affect USDCHF dynamics. Note that on Thursday, Switzerland released its November 2020 retail sales figures, which were moderately negative. Sales decreased by 2% compared to October and in annual terms amounted to 1.7% versus 4.3% in October (also yoy).
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