Technical Analysis USDCHF : 2020-05-04

IFC Markets

Master Trader
Oct 31, 2012
London (Great Britain)
Recommendation for USD/CHF: Buy

Buy Stop : Above 0.9653
Stop Loss : Below 0.9627
Donchian ChannelNeutral
Parabolic SARBuy

Chart Analysis
IFC Markets Tech Analysis

On 1-hour timeframe USDCHF: H1 is rising toward the 200-period moving average MA(200) which is falling. We believe the bullish movement will continue after the price breaches above the upper bound of the Donchian channel at 0.9653. A level above this can be used as an entry point for placing a pending order to buy. The stop loss can be placed below 0.9627. After placing the order, the stop loss is to be moved to the next fractal low, following Parabolic signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop loss level without reaching the order, we recommend cancelling the order: the market has undergone internal changes which were not taken into account.

Fundamental Analysis
Switzerland’s manufacturing sector contraction continued. Will the USDCHF continue rising?