Technical Analysis USDCHF : 2020-11-11

IFC Markets

Master Trader
Oct 31, 2012
London (Great Britain)

Recommendation for USD/CHF: Buy
Buy Stop : Above 0,919
Stop Loss : Below 0,897

Parabolic SARSell
Bollinger BandsBuy

Chart Analysis​

IFC Markets Tech Analysis

On the daily timeframe, USDCHF: D1 approached the downtrend resistance line. It must be broken upward before opening a position. A number of technical analysis indicators formed signals for further growth. We do not rule out a bullish move if USDCHF rises above the Parabolic signal and its latest maximum: 0.919. This level can be used as an entry point. We can place a stop loss below the lower Bollinger line and the last lower fractal: 0.897. After opening a pending order, we can move the stop loss to the next fractal low following the Bollinger and Parabolic signals. Thus, we change the potential profit/loss ratio in our favor. After the transaction, the most risk-averse traders can switch to the 4-hour chart and set a stop loss, moving it in the direction of the bias. If the price meets the stop loss (0.897) without activating the order (0.919), it is recommended to delete the order: the market sustains internal changes that have not been taken into account.

Fundamental Analysis​

Investors fear the Swiss National Bank's currency intervention in case of an excessive strengthening of the Swiss franc. Will the USDCHFquotes continue to grow?