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FxWirePro: USD/CHF trade idea

  • USD/CHF jumped more than 50 pips from the yesterday low of 0.98552 after positive U.S economic data. US ADP employment came at 190K in Nov compared to forecast of 186K and manufacturing sector added 40000 jobs highest in 15 years. The pair hits high of 0.99098 yesterday and is currently trading around 0.99212.
     
  • Technically pair is trading well above short term (20- day MA and 50 –day MA) and long term (100 and 200 day) MA. The near term resistance is around 0.9945 and any break above will take the pair to next level till 1.000/1.00380.
     
  • On the lower side, near term support is around 0.9854 (50- day MA) and any break below will drag the pair to next level till 0.9805 (200- day EMA)/0.9770. it should break below 0.9705 for further weakness.

It is good to buy on dips around 0.9895 with SL around 0.9850 for the TP of 1.000/1.0038.

Resistance
 

R1-0.9945
 

R2 -1.000
 

R3- 1.00380

Support               
 

S1- 0.9830
 

S2- 0.9805
 

S3-0.9770

 

 

 

 

 

 

 

 

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December 18 13:55 UTC Released

USRedbook YY

Actual

7.1 %

Forecast

Previous

6.6 %

December 18 13:55 UTC Released

USRedbook MM

Actual

-0.3 %

Forecast

Previous

-0.5 %

January 31 00:00 UTC 463136463136m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 463136463136m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 474956474956m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 463136463136m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 474956474956m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 463136463136m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 463136463136m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 463136463136m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

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