USDCHF Short Term Buy Trade Update!!!The exchange rate of the US dollar against the Swiss franc is moving in a narrow range, trading around 0.8390 in the Asian session. After the sharp decline in April, the exchange rate is trying to bottom out and stabilize, but technical indicators suggest that the downside risk still exists. Meanwhile, the improvement in global trade relations and the change in the outlook of the Federal Reserve's policy are reshaping the market risk sentiment, thus affecting the Swiss franc, a safe - haven currency.
The Bollinger Bands indicator shows that the upper band is 0.8468, the middle band is 0.8259, and the lower band is 0.8049. The exchange rate is currently above the middle band of the Bollinger Bands, but there is still a distance from the upper band, indicating that the upward space may be limited. In addition, the CCI indicator reading is 129.7512, which has entered the overbought area, suggesting that there may be callback pressure in the short term.
you are currently struggling with losses, or are unsure which of the numerous trading strategies to follow, at this moment, you can choose to observe the operations within our channel.
