Forecast of the currency pair USD / CHF
Published on 07.05.2020 17:03

Forecast of the currency pair USD / CHF
Today we will take a look at the USD / CHF currency pair. I do not often trade with this currency pair, but at the moment, a trading signal is forming to rebound from a fairly strong resistance area of 0.9795–0.9800. The marked area is clearly visible on both H1 and D1, and was formed in early April by continuous consolidation. At the same time, I’ll draw your attention to another barrier 0.9765–0.9775, which can be a strong resistance level
Trading look:
The main scenario.
The first signal to sell was the resistance test 0.9765–0.9775, while the better signal is the test of 0.9795–0.9800, which will also allow you to open a short position with minimal risk.
The bearish scenario takes into account the pair's decline to 0.9595–0.9600, but several intermediate target levels are located on the way to the marked target: 0.9720 and 0.9660.
The collapse of quotations of the pair may occur amid a weakening USD. Let me remind you that today a report will be published on the change in the number of initial and repeat applications for unemployment benefits, and tomorrow the United States will report on changes in the unemployment rate. Analysts expect more than 21 million unemployed or 16% - a record high.
The above review is not a direct guide to action, but carries an exclusively recommendatory nature.


Andrew Masters

Analyst

The world of trading has no boundaries
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