Technical Analysis USDCHF : 2021-04-29

[IFC Markets]

Recommendation for USD/CHF:Sell​

Sell Stop : Below 0.9081

Stop Loss : Above 0.9234



MACD : Sell

Donchian Channel : Sell

MA(200) : Buy

Fractals : Sell

Parabolic SAR : Sell

On Balance Volume : Neutral

Chart Analysis​

The USDCHF technical analysis of the price chart on 1-hour timeframe shows USDCHF: H1 is retracing lower to test the 200-period moving average MA(200) which is falling itself. We believe the bearish movement will continue after the price breaches below the lower bound of the Donchian channel at 0.9081. A level below this can be used as an entry point for placing a pending order to sell. The stop loss can be placed above 0.9234. After placing the order, the stop loss is to be moved to the next fractal high indicator, 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 investor sentiment improvement continued in April. Will the USDCHF decline? Switzerland’s investor sentiment improvement continued in April, according to Credit Suisse. Earlier Federal Customs Administration reported Switzerland's trade surplus widened to CHF 3.88 billion in March from CHF 3.36 billion in the previous month, the largest trade surplus since last April. Moreover the State Secretariat for Economic Affairs reported Swiss unemployment rate declined to a non-seasonally adjusted 3.4% in March from 3.6% in the previous month, when no change was expected. Improving Swiss economic performance is bearish for USDCHF