Thursday, 01 October 2020


A Analysis

USD/CHF: USD strengthening

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Current trend The USD is growing after getting a strong impulse from the Fed Chair Janet Yellen speech last week, stating that interest rates could be increased before the end of the year. At the same time, precious metals and oil prices are falling. The US NFPR data is due to be published on 2 October, and markets expect an increase of the number of created jobs by 30 thousands compared to the previous month. Until the end of the week, the USD is going to remain in an upward trend. Support and resistance The pair is trading near the top of the range between the levels of 0.9800 and 0.9525 (EMA200 on the daily chart) and above the EMA200 and EMA144. In case of a breakout of the upper border of the range, the next targets could be 0.9900 (August highs), 1.0100, 1.0200 (year highs). Sales in the pair can only be considered within corrections, but not below strong support levels at 0.9665, 0.9570, 0.9535 (accordingly, EMA50, EMA144, EMA200 on the daily chart). From these levels and from 0.9740, 0.9700 long positions are recommended (with the appropriate indicators signals). OsMA and Stochastic on all charts from the 4-hour to weekly, give buy signals. Support levels: 0.9740, 0.9700, 0.9665, 0.9570, 0.9535. Resistance levels: 0.9800, 0.9900. Trading tips Pending buy orders can be placed at the level of 0.9800 with the target at 0.9890 and stop-loss at 0.9780. Short positions can be opened after the breakdown of the level of 0.9750 with the target at 0.9670 and stop-loss at 0.9800.  

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