Current trend
Yesterday US dollar grew against the Swiss franc, supported by December US employment market data. The growth of newly employed number slowed, but the earnings are still increasing, which will let Fed keep the current monetary policy at the beginning of 2018.
Yesterday CHF was supported by Swiss inflation data. In December, Consumer Price Index stayed on the same level after the fall by 0.1% MoM in November, while analysts expected the further decrease of the indicator. The YoY value stayed at the same level of +0.8% YoY.
Today the traders are focused on Unemployment Rate releases in Switzerland at 08:45 (GMT+2) and EU at 12:00 (GMT+2), November Trade Balance publication in Germany at 09:00 (GMT+2) and November Real Retail Sales release in Switzerland at 10:15 (GMT+2).
Support and resistance
On the daily chart, Bollinger Bands are falling. The price range is almost the same, being wide enough for the current activity level. It is better to use channel trading strategy.
MACD is growing, keeping quite a steady buy signal (the histogram is above the signal line). It is better to plan long positions opening in the short or very short term.
Stochastic is steadily growing, reaching the level of 80, which is the formal border of the USD overbought area. The further strengthening of the pair is possible.
Resistance levels: 0.9782, 0.9800, 0.9825, 0.9873.
Support levels: 0.9750, 0.9731, 0.9697.
Trading tips
Long positions can be opened after the breakout of the levels 0.9782 or 0.9800 with the targets at 0.9850–0.9873 and stop loss not lower than 0.9750. Implementation period: 2–3 days.
Short positions can be opened after the breakout of the levels of 0.9750–0.9731 with the targets at 0.9700 or 0.9670 and stop loss at 0.9780. Implementation period: 2–3 days.
Trade
Scenario
Timeframe Intraday
Recommendation BUY STOP
Entry Point 0.9790, 0.9810
Take Profit 0.9850, 0.9873
Stop Loss 0.9750
Key Levels 0.9697, 0.9731, 0.9750, 0.9782, 0.9800, 0.9825, 0.9873
Alternative scenario
Recommendation SELL STOP
Entry Point 0.9740, 0.9725
Take Profit 0.9700, 0.9670
Stop Loss 0.9780
Key Levels 0.9697, 0.9731, 0.9750, 0.9782, 0.9800, 0.9825, 0.9873
Yesterday US dollar grew against the Swiss franc, supported by December US employment market data. The growth of newly employed number slowed, but the earnings are still increasing, which will let Fed keep the current monetary policy at the beginning of 2018.
Yesterday CHF was supported by Swiss inflation data. In December, Consumer Price Index stayed on the same level after the fall by 0.1% MoM in November, while analysts expected the further decrease of the indicator. The YoY value stayed at the same level of +0.8% YoY.
Today the traders are focused on Unemployment Rate releases in Switzerland at 08:45 (GMT+2) and EU at 12:00 (GMT+2), November Trade Balance publication in Germany at 09:00 (GMT+2) and November Real Retail Sales release in Switzerland at 10:15 (GMT+2).
Support and resistance
On the daily chart, Bollinger Bands are falling. The price range is almost the same, being wide enough for the current activity level. It is better to use channel trading strategy.
MACD is growing, keeping quite a steady buy signal (the histogram is above the signal line). It is better to plan long positions opening in the short or very short term.
Stochastic is steadily growing, reaching the level of 80, which is the formal border of the USD overbought area. The further strengthening of the pair is possible.
Resistance levels: 0.9782, 0.9800, 0.9825, 0.9873.
Support levels: 0.9750, 0.9731, 0.9697.
Trading tips
Long positions can be opened after the breakout of the levels 0.9782 or 0.9800 with the targets at 0.9850–0.9873 and stop loss not lower than 0.9750. Implementation period: 2–3 days.
Short positions can be opened after the breakout of the levels of 0.9750–0.9731 with the targets at 0.9700 or 0.9670 and stop loss at 0.9780. Implementation period: 2–3 days.
Trade
Scenario
Timeframe Intraday
Recommendation BUY STOP
Entry Point 0.9790, 0.9810
Take Profit 0.9850, 0.9873
Stop Loss 0.9750
Key Levels 0.9697, 0.9731, 0.9750, 0.9782, 0.9800, 0.9825, 0.9873
Alternative scenario
Recommendation SELL STOP
Entry Point 0.9740, 0.9725
Take Profit 0.9700, 0.9670
Stop Loss 0.9780
Key Levels 0.9697, 0.9731, 0.9750, 0.9782, 0.9800, 0.9825, 0.9873