USDCHF (U.S Dollar / Swiss Franc) Currencies Analysis 09/04/2021Fundamentals:
The USDCHF currency pair is often called 'The Swissie'. The Swiss Franc is the last Franc still in issuance in Europe. CHF is shorthand for 'Confoederatio Helvetica' Franc, and represents the economy of the neutral nation situation in the center of Europe. Switzerland has long been a key banking center for customers around the world, and the secrecy with which they maintain their banking operations has made them one of the more desireable locations for storing cash. This has helped to bring considerable strength to the Swiss Franc, pressuring exporters from the nation. When the European Debt Crisis enveloped the continent, massive inflows into Swiss Francs made the situation worse until eventually the Swiss National Bank (SNB) created a peg to the Euro at a rate of 1.2 Swiss Francs for every 1 Euro. If the EURCHF currency pair fell below 1.20, the SNB proposed to sell CHF and buy EUR to support the 1.20 floor.
Technical analysis:
the Pair seem to be on a bullish wave and it has trigged the extension level of the Fibonacci projection and now consolidating at the parallels legs of the same Projection
accordingly we can target the higher levels with higher confirmation as the price has done its accumulation phase properly and we can see an Inverted Head and Shoulder pattern at the Accumulation zone which is a very good sign it.
there are total of 3 Targets defined as the 1 and 2 Targets are very much Prone to get triggered on a very faster pace
