USDCHF - Bullish Bias
USD - BULLISH
1️⃣ Investors continue to bet on a strong economic recovery amid further fiscal stimulus and coronavirus vaccination.
2️⃣ US President Biden announced a $2.25 trillion package, the second major stimulus plan after the $1.9 trillion bill.
3️⃣ US ISM manufacturing PMI is set to rise as US stimulus package could boost the activity.
CHF - BEARISH
1️⃣ Expectations of a huge US economic rebound and high Treasury yields while the outlook in Europe remains more vulnerable due to rising Covid-19 cases.
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Technical
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We are looking to buy the USDCHF at support + above SMA 50 on the H1 chart.
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Risk to this trade
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Any change in sentiment could turn the pair's direction.
1️⃣ Investors continue to bet on a strong economic recovery amid further fiscal stimulus and coronavirus vaccination.
2️⃣ US President Biden announced a $2.25 trillion package, the second major stimulus plan after the $1.9 trillion bill.
3️⃣ US ISM manufacturing PMI is set to rise as US stimulus package could boost the activity.
CHF - BEARISH
1️⃣ Expectations of a huge US economic rebound and high Treasury yields while the outlook in Europe remains more vulnerable due to rising Covid-19 cases.
=====
Technical
=====
We are looking to buy the USDCHF at support + above SMA 50 on the H1 chart.
=====
Risk to this trade
=====
Any change in sentiment could turn the pair's direction.
Trade active
PENDING ORDER TRIGGEREDTrade closed: stop reached
❌ TRADE HAS HIT STOP LOSS-30 PIPS
CHF soared despite the risk-on tone, while the US dollar has been dumped in the US session.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.