Source: PaxForex Premium Analytics Portal, Technical Insight
As reported by the President of the Federal Reserve Bank of San Francisco M. Daley in an interview with CNBC:
He expects growth to slow down in the future;
The Fed's policy is consistent with the current situation;
Fiscal support is crucial;
In the face of the epidemic, continued support for Americans is essential;
The vaccine is good news, but the priority now is to increase the rate of disease;
Without fiscal assistance, economic growth will be slower;
The Fed's powerful tools provide the regulator with enough flexibility to handle any situation.
USD/CHF, 30 min
Pivot: 0.9182
Analysis:
Provided that the currency pair is traded above 0.9140, follow the recommendations below:
- Time frame: 30 min
- Recommendation: long position
- Entry point: 0.9182
- Take Profit 1: 0.9205
Alternative scenario:
In case of breakdown of the level 0.9140, follow the recommendations below:
- Time frame: 30 min
- Recommendation: short position
- Entry point: 0.9140
- Take Profit 1: 0.9120
- Take Profit 2: 0.9100
Comment:
RSI shows the possibility of an ascending momentum.
Key levels:
Resistance | Support |
0.9220 | 0.9140 |
0.9205 | 0.9120 |
0.9190 | 0.9100 |
USD/CHF, D1
Pivot: 0.9180
Analysis:
While the price is below 0.9200, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.9180
- Take Profit 1: 0.8980
- Take Profit 2: 0.8890
Alternative scenario:
If the level 0.9200 is broken-out, follow the recommendations below.
- Time frame: D1
- Recommendation: long position
- Entry point: 0.9200
- Take Profit 1: 0.9295
- Take Profit 2: 0.9395
Comment:
RSI shows the development of an uptrend 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 - sell below 1.1790 with 1.1720 and 1.1695 targets as Take Profit. Alternative scenario - if the level 1.1790 is broken-out, buy with the TP 1.1810 and 1.1835.
GBP/USD – sell below 1.3235 with 1.3150 and 1.3115 as Take Profit targets. Alternative scenario - if the level of 1.3235 is broken-out, you should consider buying with the targets 1.3255 and 1.3280 as Take Profit.
AUD/USD - short positions below 0.7295 with 0.7235 and 0.7205 targets as Take Profit. Alternative scenario - if the level of 0.7295 is broken-out, buy with the targets 0.7320 and 0.7340 as Take Profit.