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[QUOTE="Antony_NPBFX, post: 213524, member: 38727"] [size=5][b]USD/CHF: Swiss authorities lowered forecasts for GDP growth this year 30.09.2022 [/b][/size] Good afternoon, dear forum visitors! [url=http://www.npbfx.com/?utm_campaign=company&utm_medium=forumpost&utm_source=earnforex.com]NPBFX[/url] offers the latest release of analytics on USD/CHF for a better understanding of the current market situation and more efficient trading. [b]Current trend[/b] The US dollar shows multidirectional trading dynamics, testing the level of 0.9745 for a breakdown. At the end of the week, "bearish" sentiments are still traced; however, the US currency receives support from macroeconomic data. In addition, investors are confident in the further tightening of monetary policy by the US Federal Reserve, while some of the world's central banks are already carrying out foreign exchange interventions. In turn, the Swiss franc is under pressure from the macroeconomic background from Europe. In Germany, the Consumer Price Index in September rose from 7.9% to 10.0% in annual terms, while markets expected an increase to only 9.4%, and in monthly terms, the figure accelerated from 0.3% to 1.9% , also well ahead of forecasts at 1.3%. The Harmonized Consumer Price Index for the same period rose from 8.8% to 10.9%, contrary to expectations at 10.0%. Additional pressure on quotes was exerted by data on the eurozone: Economic Sentiment Indicator in September decreased from 97.3 points to 93.7 points with a forecast of 95.0 points, and the Services Sentiment indicator for the same period fell from 8.1 points to 4.9 points with expectations of correction only up to 7.0 points. The Swiss government has lowered its forecast for Gross Domestic Product (GDP) growth this year to 2.0% from 2.6% in June. For 2023, preliminary estimates have been adjusted from 1.9% to 1.1% amid an evolving energy crisis and a sharp rise in consumer prices, which worsen the economic outlook. The tense geopolitical situation contributes to the negative dynamics, in particular, the escalation of the military conflict in Ukraine, which will continue to put pressure on some industry segments, primarily on the export-oriented sectors of the Swiss economy. [b]Support and resistance[/b] Bollinger Bands in D1 chart show moderate growth. The price range is narrowing from below, reflecting the ambiguous dynamics of trading in the short term. MACD is going down, keeping a fairly stable sell signal (located below the signal line). Stochastic keeps a confident downward direction but is already approaching its lows, which indicates the risks of oversold USD in the ultra-short term. Resistance levels: 0.9762, 0.9807, 0.9868, 0.9930. Support levels: 0.9700, 0.9650, 0.9600, 0.9550. [img]https://i.ibb.co/BBW5Cc0/usdchf-30092022-55.png[/img] [img]https://i.ibb.co/PTWsyTS/usdchf-30092022-66.png[/img] [b]Trading tips [/b] Short positions may be opened after a breakdown of 0.9700 with the target at 0.9600. Stop-loss — 0.9762. Implementation time: 2-3 days. The breakout of 0.9807 may be a signal to open new long positions with the target of 0.9930. Stop-loss — 0.9740. [b]Use more opportunities of the NPBFX analytical portal: E-book[/b] If you just recently started to be interested in trading on FOREX and would like to deepen your knowledge, an electronic Beginner's Guide to FOREX Trading will be an excellent helper for you here. The book consists of 5 chapters and reflects fundamental concepts of the foreign exchange market to start successful trading. From the main chapters of the E-book you can learn about the concepts and history of FOREX, currencies and trend lines, technical indicators, types of orders, trading on news, psychology of trading, risk management and much more. You can read a Beginner's guide to FOREX Trading online or download it free of charge from the NPBFX analytical portal in the "Education" section. In order to get unlimited access to the E-book and other useful instruments on the portal, you need to register on the NPBFX website. If you have any questions about trading instruments, you can always ask an analyst in the online chat on the portal and get a free consultation of an experienced specialist. Use the current recommendations of analysts on USD/CHF and trade efficiently with [url=https://my.npbfx.com/register/?utm_campaign=register&utm_medium=forumpost&utm_source=earnforex.com]NPBFX[/url]. [/QUOTE]
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