USD/CHF | US Dollar to Swiss Franc Trading Analysis
In Switzerland, 20201 cases of coronavirus infection were detected, and 540 people died. According to the representative of the Swiss Ministry of Health Daniel Koch, this is not the peak. Over the past 24 hours, 7 thousand tests for coronavirus have been made in Switzerland, and 975 people confirmed the infection. Most cases were detected in the canton of Ticino, bordering Italy, followed by Geneva. In Switzerland, more women than men were infected, but 64% of the deceased were men. Switzerland has a population of 8.5 million people. Of this number, 1.3 million have applied for a temporary unemployment benefit in connection with the crisis.
USD/CHF, 30 min
Pivot: 0.9760
Analysis:
Provided that the currency pair is traded above 0.9795, follow the recommendations below:
The timeframe: 30 min
Recommendation: short position
Entry point: 0.9760
Take Profit 1: 0.9740
Take Profit 2: 0.9725
Alternative scenario:
In case of broken-out of the level 0.9795, follow the recommendations below:
The timeframe: 30 min
Recommendation: long position
Entry point: 0.9795
Take Profit 1: 0.9815
Take Profit 2: 0.9830
Comment:
RSI shows downward momentum.
Key levels:
Resistance
Support
0.9830
0.9740
0.9815
0.9725
0.9795
0.9690
USD/CHF, D1
Pivot: 0.9766
Analysis:
While the price is above 0.9610, follow the recommendations below:
Time frame: D1
Recommendation: long position
Entry point: 0.9766
Take Profit 1: 0.9900
Take Profit 2: 1.0000
Alternative scenario:
If the level 0.9610 is broken-down, follow the recommendations below.
Time frame: D1
Recommendation: short position
Entry point: 0.9610
Take Profit 1: 0.9500
Take Profit 2: 0.9375
Comment:
RSI indicates a further uptrend.
Key levels:
Resistance
Support
1.0100
0.9610
1.0000
0.9500
0.9900
0.9375
We also advise you to pay attention to the following currency pairs for intra-day trading:
GBP/USD – buy above 1.2215 with 1.2320 and 1.2360 as Take Profit targets. Alternative scenario - if the level of 1.2215 is broken-down, you should consider selling with the targets 1.2190 and 1.2160 as Take Profit. USD/JPY - short positions below 109.30 with 108.65 and 108.30 targets as Take Profit. Alternative scenario - if the level of 108.55 is broken-out, buy with the targets 109.70 and 110.00 as Take Profit. EUR/GBP - buy above 0.8765 with 0.8890 and 0.8925 targets as Take Profit. Alternative scenario - if the level 0.8765 is broken-down, sell with the TP 0.8706 and 0.8671.
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