2020-09-16 • Updated
USD/CHF has been trading in a range between 0.9200 and 0.9000 since late July. Analysts from JP Morgan will consider selling USD/CHF, when it retests the top of its range at 0.9200. Elsewhere, they are confident the pair will eventually break through 0.9000.
The most important even of the day is the Fed’s report today. It definitely will add fresh volatility to the market. Most strategists and JP Morgan’s, in particular, await the Fed to deliver the dovish statement with economic guidelines up to 2023. The central bank may leave rates at low levels during this period. Even though the recent US data comes better than expected, Fed’s chairman Jerome Powell should stay uncertain and pessimistic over the recovery. As a result, the US dollar may plummet amid the Fed’s pressure as well as USD/CHF.
A bit earlier another economic indicator will be out: US retail sales. This report may impact the pair too. It will be released at 15:30 MT time. If sales are greater than forecasts, the USD will rise (USD/CHF too). Otherwise, if sales are worse than estimates, the USD will fall, pushing USD/CHF to the downside.
Let’s look at the 4-hour USD/CHF chart. If the pair breaks down the support of 0.9050, it may fall deeper to the low of September 1 at 0.9010. In the opposite scenario, if the price manages to cross the high of September 10 at 0.9105, the way towards the next resistance of 0.9130 will be clear. Follow economic releases!
Crude oil futures surged on Monday due to disruptions in Russian refining capacity caused by Ukrainian drone strikes and Moscow's decision to cut output to comply with OPEC+ targets. The West Texas Intermediate (WTI) contract for May settled at $81.95 a barrel, up $1.32, while the Brent contract for May settled at $86.57 a barrel, also up $1.32. Russia instructed...
Bearish scenario: Sales below 80.00 with TP1: 79.60... Anticipated bullish scenario: Intraday purchases above 80.70 with TP: 81.50...
Brent oil is currently on a bullish trend, facing resistance near $84 and supported by the 200-day EMA. Breaking above this level could lead to a climb towards $90. Short-term support is observed around $80, backed by the 50-day EMA. As summer approaches and travel increases, crude oil tends to benefit from seasonal patterns. Despite temporary setbacks, buying...
Jerome H. Powell, the Federal Reserve chair, stated that the central bank can afford to be patient in deciding when to cut interest rates, citing easing inflation and stable economic growth. Powell emphasized the Fed's independence from political influences, particularly relevant as the election season nears. The Fed had raised interest rates to 5.3 ...
Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...
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Don’t waste your time – keep track of how NFP affects the US dollar and profit!
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