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Usdchfprediction

USDCHF Daily Analysis Hello everyone, as we all know the market action discounts everything :) _________________________________Make sure to Like and Follow if you like the idea_________________________________ During the Asian trading session on Thursday, the USD/CHF currency pair remained flat In the morning, after reporting gains overnight, the currency pair remained in a relatively narrow trading range with little movement. The USD/CHF exchange rate is currently at 0.9261, up just 0.001 percent since the start of trading. Scenarios for the market : Scenario 1 : The market is showing Bullish signs all around so most likely we will be seeing a push to the first resistance located at 0.9287 if the Bulls were able to keep control then the price will push further hitting the resistance at 0.9311 or even 0.9346 where they might have a problem with breaking out that zone. Scenario 2 : After the market reaches the first resistance of 0.9287 we might see a strong push from the Bears to drop the market back to the first support at 0.9227 where most likely the Bulls will gather a lot of power to take control back and drive the market price back up. Technical indicators show : 1) The market is above the 10 20 50 100 200 MA and EMA, But still below the 5 MA which could mean a very small drop before going up. 2) The MACD is above the 0 line which means the market is bullish, With a positive crossover between the MACD line and the Signal line. 3) The STOCH is in the high range showing Bullish signs, With a positive crossover between the %K (62.04) and %D (60.89) Daily Support & Resistance points : support Resistance 1) 0.9227 1) 0.9287 2) 0.9191 2) 0.9311 3) 0.9167 3) 0.9346 Fundamental point of view : The US Federal Reserve kept its short-term key rates unchanged in the range of 0% to 0.25% on Wednesday and said a “moderation” in asset purchasing would happen for further economic progress. The Federal Open Market Committee (FOMC) signaled a reduction in its $120 billion monthly bond purchase this year. In addition to that, US Fed Chair Jerome Powell hinted that tapering could occur as soon as in November or end in mid-2022. Furthermore, the FOMC economic projection painted a rosy picture about the economy as the Fed hiked its interest-rate outlook to 1% and 1.8% in 2023 and 2024 respectively. The economy is expected to expand by 3.8% and 2.5% in 2023 and 2024 as compared to the previous 3.3% and 2.4% projections respectively. On the other hand, the Swiss franc pares its previous gains on improved risk sentiment. On the economic data side, Switzerland's Current Account expanded to CHF 10.51 on a quarterly basis as compared to CHF 3.21 billion. As for now, traders wait for the Swiss National Bank (SNB) interest rate decision, US Initial Jobless Claims, and Markit manufacturing Purchasing Managers Index( PMI) to gain fresh trading impetus. According to Fxstreet. This is my personal opinion done with technical analysis of the market price and research online from Fundamental Analysts and News for The Fundamental point of view, not financial advice. If you have any questions please ask and have a great day !! Thank you for reading.
Long
by GabiDahduh
USD/CHF Trend AnalysisInvestors are nervous as the FOMC holds its two-day policy meeting on Wednesday. Officials from the Federal Reserve are expected to mark a start to reducing the monthly asset purchase program. Meanwhile, the Swiss government has cut its economic growth prediction for this year by 3.2 percent. According to the State Secretariat for Economic Affairs (SECO), a weaker global recovery, supply-chain bottlenecks, and stricter coronavirus measures were the key reasons for the reduction in growth predictions. For the time being, traders are waiting for new trading impetus from the Swiss Balance of Trade, US Current Account, Housing Starts, and Building Permits.
Short
by meelbijendra
USDCHF Daily analysis, Price directionHello everyone, as we all know the market action discounts everything :) _________________________________Make sure to Like and Follow if you like the idea_________________________________ The USD/CHF pair has been against a strong resistance zone at 0.92300 - 0.92500 with multiple top formations. USD/CHF went to the low of 0.9108 on August 4, after breaching 23.6% Fibonacci retracement, at 0.9192 However, the spot made a swift recovery back to the high of 0.9242 only to retrace toward 0.8140 in the previous week. 2 Different Scenarios for price movement in the next few days Scenario 1 : The price is trending close to the resistance line at 0.9164 a breakout of that line could indicate a change in the movement of the pair and the price could be headed near the second resistance zone at 0.92200 in the 23.60% Fibonacci level, and from there the Bulls will have to show a lot of support for the price to break that zone and change the trend. Scenario 1 : The price is getting closer to the support line at 0.9148 if the bears were able to break that line then a sudden change in price will happen and the bears will have enough moment to drive the price to near the 0.91100 support in the 50% Fibonacci level, where a test for the Bears power will happen and if they proved that they still hold control then most likely the price will drop below the 61.80 Fibonacci level and will be hitting the 0.90670 zone Technical indicators are showing that : 1) The market price just dropped below the 5 10 MA and EMA, we could be seeing a small bearish movement, The price is still above the 20 50 100 200 MA EMA. 2) The MACD is above the 0 line Showing a Bullish state in the market, with a positive crossover between the MACD line and The Signal Line. 3) The ADX is at 22.39 showing that the market is currently trending, With a positive crossover between the DI+ (23.54) and DI- (21.30). Support & Resistance points : support Resistance 1) 0.91480 1) 0.91640 2) 0.91100 2) 0.92200 3) 0.90670 3) 0.92870 Fundamental point of view : After touching the high of 0.9240 in the overnight session, USD/CHF continues to trade higher in the Asian trading hours on Friday The pair hovers in a narrow trade band with an upward bias. The appreciative move in the US dollar sponsored the move in the pair. The US dollar index remains strong above 93.00 The US Initial Jobless Claims fell for the third consecutive week, the readings came at 375K in the week ended on August 7 whereas, the Producer Purchase Index (PPI) gained 1% in July, higher than the market forecast of 0.6%. Meanwhile, Kansas City Federal Reserve President Esther George said that the time had come to end the central bank’s asset purchase program. On the other hand, the Swiss franc surrenders gains against the stronger US dollar. As for now, traders are waiting for the Swiss Producer and Import price, US Michigan Consumer Sentiment data to gauge the market sentiment. According to Fxstreet This is my personal opinion done with technical analysis of the market price and research online from fundamental analysts for The Fundamental point of view, not financial advice. If you have any questions please ask and have a great day !! Thank you for reading.
by GabiDahduh