USD/CHF | US Dollar to Swiss Franc Trading Analysis

USD/CHF | US Dollar to Swiss Franc Trading Analysis

Written by: PaxForex analytics dept - Monday, 21 December 2020 0 comments

Source: PaxForex Premium Analytics Portal, Technical Insight

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USD/CHF, 30 min

Pivot: 0.8865

Analysis:

Provided that the currency pair is traded above 0.8840, follow the recommendations below:

  • Time frame: 30 min
  • Recommendation: long position
  • Entry point: 0.8865
  • Take Profit 1: 0.8885
  • Take Profit 2: 0.8895

Alternative scenario: 

In case of breakdown of the level 0.8840, follow the recommendations below:

  • Time frame: 30 min
  • Recommendation: short position
  • Entry point: 0.8840
  • Take Profit 1: 0.8820
  • Take Profit 2: 0.8800

Comment:

RSI shows the possibility of an ascending momentum. 

Key levels:

Resistance     Support
0.8910 0.8840
0.8895 0.8820
0.8885 0.8800

USD/CHF, D1

Pivot: 0.8854

Analysis:

While the price is below 0.9000, follow the recommendations below:

  • Time frame: D1
  • Recommendation: short position
  • Entry point: 0.8854
  • Take Profit 1: 0.8750
  • Take Profit 2: 0.8640

Alternative scenario:

If the level 0.9000 is broken-out, follow the recommendations below:

  • Time frame: D1
  • Recommendation: long position
  • Entry point: 0.9000
  • Take Profit 1: 0.9185
  • Take Profit 2: 0.9295

Comment:

RSI shows the development of a downtrend in the medium-term.

Key levels:

Resistance     Support
0.9295 0.8750
0.9185 0.8640
0.9000 0.8500

We also advise you to pay attention to the following currency pairs for intraday trading:

EUR/USD - sell below 1.2225 with 1.2160 and 1.2140 targets as Take Profit. Alternative scenario - if the level 1.2225 is broken-out, buy with the TP 1.2250 and 1.2270. 
GBP/USD – sell below 1.3415 with 1.3275 and 1.3230 as Take Profit targets. Alternative scenario - if the level of 1.3415 is broken-out, you should consider buying with the targets 1.3470 and 1.3530 as Take Profit.
AUD/USD - short positions below 0.7600 with 0.7545 and 0.7525 targets as Take Profit. Alternative scenario - if the level of 0.7600 is broken-out, sell with the targets 0.7625 and 0.7640 as Take Profit.