Source: PaxForex Premium Analytics Portal, Technical Insight
As the data published on Monday showed, ISM production fell to 57.5 in November from 59.3 earlier and the forecast of 58:
October value was the highest since November 2018;
New orders component 65.1 vs. pre. 67.9;
Price component paid 65.4 vs. pre. 65.5;
Employment component 48.4 vs. 53.2;
Inventory component 51.2 vs. pre. 51.9;
Production Component 60.8 vs. 63.0;
Pending orders component 56.9 vs. 55.7;
Supply component 61.7 vs. 60.5;
New export orders component 57.8 vs. 55.7.
USD/CHF, 30 min
Pivot: 0.9000
Analysis:
Provided that the currency pair is traded below 0.9030, follow the recommendations below:
- Time frame: 30 min
- Recommendation: short position
- Entry point: 0.9000
- Take Profit 1: 0.8965
- Take Profit 2: 0.8935
Alternative scenario:
In case of breakout of the level 0.9030, follow the recommendations below:
- Time frame: 30 min
- Recommendation: long position
- Entry point: 0.9030
- Take Profit 1: 0.9050
- Take Profit 2: 0.9070
Comment:
RSI shows the possibility of a descending momentum.
Key levels:
| Resistance | Support |
| 0.9140 | 0.9080 |
| 0.9125 | 0.9070 |
| 0.9115 | 0.9055 |
USD/CHF, D1
Pivot: 0.9043
Analysis:
While the price is below 0.9150, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.9043
- Take Profit 1: 0.8980
- Take Profit 2: 0.8890
Alternative scenario:
If the level 0.9150 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.9150
- Take Profit 1: 0.9295
- Take Profit 2: 0.9395
Comment:
RSI shows the development of a downtrend in the medium-term.
Key levels:
| Resistance | Support |
| 0.9395 | 0.8980 |
| 0.9295 | 0.8890 |
| 0.9200 | 0.8750 |
We also advise you to pay attention to the following currency pairs for intraday trading:
EUR/USD - buy above 1.2035 with 1.2110 and 1.2150 targets as Take Profit. Alternative scenario - if the level 1.2035 is broken-down, sell with the TP 1.2000 and 1.1970.
GBP/USD – buy above 1.3385 with 1.3440 and 1.3480 as Take Profit targets. Alternative scenario - if the level of 1.3385 is broken-down, you should consider selling with the targets 1.3360 and 1.3330 as Take Profit.
AUD/USD - long positions above 0.7355 with 0.7405 and 0.7420 targets as Take Profit. Alternative scenario - if the level of 0.7355 is broken-down, sell with the targets 0.7335 and 0.7320 as Take Profit.
