ONLINE FOREX BROKER
2020-03-04 • Updated
Performance in 2020: -0.8%
Last day range: 0.9550 – 0.9584
52-week range: 0.9520 – 1.0236
The USD dropped to its two-year lows against the Swiss franc. 0.9577, where it is now, was last visited by the USD/CHF in March 2018. That doesn’t change much in historical terms (this level is an average the currency has been around for the last 6 years) but marks an important tactical checkpoint. At least, it makes full sense in the context of the USD’s weak recent performance against other currencies and the US Fed’s interest rate cut.
Looking ahead, there is full potential for the CHF to stay strong against the USD as we already know that the fundamentals backing up the US economy are hardly helping the US dollar to keep value, at least for the current moment. It is very possible, therefore, that the movement of the USD/CHF will be moderately directed to the downside, more probably aiming at the technical levels mentioned below, in the short-term.
Resistance 0.9597
Support 0.9520
In a call scheduled for January 25, 00:30 am GMT+2, Microsoft will publish the company's earnings for the final quarter of 2022 and comment on the results, projections, and outlook for the nearest future of the company.
In a call scheduled for January 25, 00:30 am GMT+2, the Tesla Inc. team will publish the company's earnings for the final quarter of 2022 and comment on the results, projections, and outlook for the nearest future of the company.
The Netflix stock (NFLX), with a market cap of $145.17B and a whooping 10 000+% rise since its inception 16 years ago, experienced some turbulence for a short period last year while trading around the $250 share price. However, the NFLX stock quickly recovered and rose to over $300 towards the end of the previous quarter of 2022.
This week, there are a few high-probability trade ideas I'd like to recommend to you. Trading these setups, be sure to implement a proper risk management approach.
On Thursday, the 2nd of February, the Bank of England will publish its report concerning interest rates and inflation data for the Eurozone. Professionals and investors anticipate that Andrew Bailey’s lead team of policy makers will likely raise interest rates to 4%; the highest in over a decade, for the tenth time in a row.
The first FOMC meeting comes after a buildup of anticipation from traders and investors alike, as the markets await what posture the Fed will take regarding the interest rates; would there be a hike or a cut in interest rates?
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