Last week brought a selloff in markets. Some assets reached the most crucial support levels and are likely to reverse in a short term. Be ahead of trends and make the most out of this week!
USD/CHF is waiting for something
2019-11-11 • Updated
SELL 0.9905; TP 0.9870; SL 0.9920
BUY 0.9975; TP1 1.0000; TP2 1.0050; SL 0.9960
USD/CHF is supported by the 50-day MA at 0.9917. The "doji" candlestick that formed on the D1 yesterday signals the uncertainty of market players. If investors start having more serious doubts about the potential phase-1 agreement between the United States and China, the USD will fall. The decline below 0.9910 (MAs on H4) will open the way down to 0.9870 (100-day MA). On the upside, buying will become less risky once USD/CHF gets above the 200-day MA (0.9953) and October 28 high (0.9972). In this case, targets will lie at 1.0000 and 1.0030/50.
Historically, the stability of the franc is caused by the solid Swiss economy and a highly developed banking system…
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The stock market has reversed, and now it’s going lower and lower…