USD/CHF news:
🔆The USD/CHF pair continued its upward momentum, reaching 0.9000 in early European trading on Thursday. However, it is now showing signs of a potential pullback as the 1-hour RSI approached the overbought threshold of 80.
🔆On Thursday, data revealed that the second estimate for the US Gross Domestic Product (GDP) in Q4 2024 remained unchanged from the initial forecast, reflecting an annualized growth of 2.3%. Meanwhile, US jobless claims rose by 22,000 to 242,000 for the week ending February 22, marking the highest level in three months.
🔆Given this backdrop, the US Dollar is likely to maintain its strength across the board, keeping downward pressure on USD-denominated commodities. Additionally, Switzerland’s latest Retail Sales y/y data came in at 1.3%, falling short of the expected 1.6%, which could signal bearish sentiment for the Swiss Franc.
Personal opinion:
🔆The USD/CHF pair is still in an uptrend, however, the RSI (1H) of USD/CHF and DXU both signaled divergence after entering the overbought zone. So in the short term, there will be a slight pullback and then an increase for this pair.
Analysis:
🔆Based on the resistance - support levels and important Fibonacci levels combined with SMA200 to come up with a reasonable strategy.
Plan:
🔆Price Zone Setup:
👉Buy USD/CHF 0.8980 – 0.8990
❌SL: 0.8950 | ✅TP: 0.9025 – 0.9050 – 0.9090
FM wishes you a successful trading day 💰💰💰
🔆The USD/CHF pair continued its upward momentum, reaching 0.9000 in early European trading on Thursday. However, it is now showing signs of a potential pullback as the 1-hour RSI approached the overbought threshold of 80.
🔆On Thursday, data revealed that the second estimate for the US Gross Domestic Product (GDP) in Q4 2024 remained unchanged from the initial forecast, reflecting an annualized growth of 2.3%. Meanwhile, US jobless claims rose by 22,000 to 242,000 for the week ending February 22, marking the highest level in three months.
🔆Given this backdrop, the US Dollar is likely to maintain its strength across the board, keeping downward pressure on USD-denominated commodities. Additionally, Switzerland’s latest Retail Sales y/y data came in at 1.3%, falling short of the expected 1.6%, which could signal bearish sentiment for the Swiss Franc.
Personal opinion:
🔆The USD/CHF pair is still in an uptrend, however, the RSI (1H) of USD/CHF and DXU both signaled divergence after entering the overbought zone. So in the short term, there will be a slight pullback and then an increase for this pair.
Analysis:
🔆Based on the resistance - support levels and important Fibonacci levels combined with SMA200 to come up with a reasonable strategy.
Plan:
🔆Price Zone Setup:
👉Buy USD/CHF 0.8980 – 0.8990
❌SL: 0.8950 | ✅TP: 0.9025 – 0.9050 – 0.9090
FM wishes you a successful trading day 💰💰💰
Trade active
Strong buying pressure and breaking resistance zone, getting closer to final target
✅ t.me/+Y9T5_BwC7_JhMWM1
Join now !!!!
Channel: signals - knowledge and FOREX comments
Join now !!!!
Channel: signals - knowledge and FOREX comments
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
✅ t.me/+Y9T5_BwC7_JhMWM1
Join now !!!!
Channel: signals - knowledge and FOREX comments
Join now !!!!
Channel: signals - knowledge and FOREX comments
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.