USD/CHF | US Dollar to Swiss Franc Trading Analysis
Measures to counter the spread of coronavirus (general quarantine and closure of "systemically unimportant" enterprises and facilities) put many companies, especially from small and medium-sized businesses (and these are the majority of companies in the country) in a difficult position. In order to avoid massive layoffs in this situation, a tool that has already proven itself in times of crisis is being widely used in Switzerland: the shortened working hours.
USD/CHF, 30 min
Pivot: 0.9670
Analysis:
Provided that the currency pair is traded above 0.9650, follow the recommendations below:
Time frame: 30 min
Recommendation: long position
Entry point: 0.9670
Take Profit 1: 0.9700
Take Profit 2: 0.9720
Alternative scenario:
In case of breakdown of the level 0.9650, follow the recommendations below:
Time frame: 30 min
Recommendation: short position
Entry point: 0.9650
Take Profit 1: 0.9635
Take Profit 2: 0.9620
Comment:
RSI shows the possibility of an upward momentum.
Key levels:
Resistance
Support
0.9735
0.9650
0.9720
0.9635
0.9700
0.9620
USD/CHF, D1
Pivot: 0.9655
Analysis:
While the price is above 0.9590, follow the recommendations below:
Time frame: D1
Recommendation: long position
Entry point: 0.9655
Take Profit 1: 0.9795
Take Profit 2: 0.9900
Alternative scenario:
If the level 0.9590 is broken-down, follow the recommendations below.
Time frame: D1
Recommendation: short position
Entry point: 0.9590
Take Profit 1: 0.9500
Take Profit 2: 0.9375
Comment:
The support base at 0.9590 has been formed, which allowed the asset to stabilize temporarily.
Key levels:
Resistance
Support
1.0000
0.9590
0.9900
0.9500
0.9795
0.9375
We also advise you to pay attention to the following currency pairs for intra-day trading:
EURUSD – sell below 1.0910 with 1.0855 and 1.0840 as Take Profit targets. Alternative scenario - if the level of 1.0910 is broken-out, you should consider buying with the targets 1.0935 and 1.0955 as Take Profit. GBP/USD - short positions below 1.2520 with 1.2435 and 1.2400 targets as Take Profit. Alternative scenario - if the level of 1.2520 is broken-out, sell with the targets 1.2550 and 1.2575 as Take Profit. EUR/GBP - buy above 0.8670 with 0.8787 and 0.8822 targets as Take Profit. Alternative scenario - if the level 0.8670 is broken-down, sell with the TP 0.8612 and 0.8578.
WHY TRADE WITH PAXFOREX?
We are one of the fastest growing Forex Brokers in the Market. Trade with PaxForex to get the full Forex Trading experience which is based on...