Source: PaxForex Premium Analytics Portal, Technical Insight
Bullard, president, and CEO of the Federal Reserve Bank of St. Louis: The inflation situation is quite positive:
Inflation will rise this year;
The Fed will take into account the inflation situation;
There is no bubble inflating in the stock markets, it's just the normal process of investing;
There is high activity in the markets, at times there is high speculative activity;
Overall financial conditions are positive;
At the moment there is not that panic, which was in March and April of last year.
USD/CHF, 30 min
Pivot: 0.8932
Analysis:
Provided that the currency pair is traded above 0.8905, follow the recommendations below:
- Time frame: 30 min
- Recommendation: long position
- Entry point: 0.8932
- Take Profit 1: 0.8945
- Take Profit 2: 0.8965
Alternative scenario:
In case of breakdown of the level 0.8905, follow the recommendations below:
- Time frame: 30 min
- Recommendation: short position
- Entry point: 0.8905
- Take Profit 1: 0.8885
- Take Profit 2: 0.8865
Comment:
RSI shows the possibility of ascending momentum.
Key levels:
| Resistance | Support |
| 0.8980 | 0.8905 |
| 0.8965 | 0.8885 |
| 0.8945 | 0.8865 |
USD/CHF, D1
Pivot: 0.8917
Analysis:
While the price is above 0.8830, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.8917
- Take Profit 1: 0.9050
- Take Profit 2: 0.9185
Alternative scenario:
If the level 0.8830 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.8830
- Take Profit 1: 0.8750
- Take Profit 2: 0.8640
Comment:
RSI shows the development of an uptrend in the medium-term.
Key levels:
| Resistance | Support |
| 0.9300 | 0.8830 |
| 0.9185 | 0.8750 |
| 0.9050 | 0.8640 |
We also advise you to pay attention to the following currency pairs for intraday trading:
EUR/USD - sell below 1.2120 with 1.2050 and 1.2020 targets as Take Profit. Alternative scenario - if the level 1.2120 is broken-out, buy with the TP 1.2135 and 1.2150.
GBP/USD – sell below 1.3910 with 1.3865 and 1.3845 as Take Profit targets. Alternative scenario - if the level of 1.3910 is broken-out you should consider buying with the targets 1.3935 and 1.3955 as Take Profit.
AUD/USD - short positions below 0.7765 with 0.7715 and 0.7700 targets as Take Profit. Alternative scenario - if the level of 0.7765 is broken-out, buy with the targets 0.7780 and 0.7800 as Take Profit.
