empty
 
 
22.02.2021 11:23 AM
USD/CHF To Resume Its Upside Journey!

USD/CHF edges higher after ending its temporary drop. USDX's throwback pushed the greenback higher versus its rivals. The current rally could attract even more buyers in the short term.

The pair was into a corrective phase. Now it has turned to the upside and it seems determined to overpass 0.9045 former high. USD rebounded after good US data reported on Friday.

The Flash Manufacturing PMI dropped to 58.5 points versus 58.4 expected, the Flash Services PMI increased unexpectedly from 58.3 to 58.9 even if the specialists have expected to see a drop to 57.9 points, while the Existing Home Sales surged to 6.69M, higher compared to 6.59M estimated.

USD/CHF Strongly Bullish!

This image is no longer relevant

USD/CHF retested the Pivot Point (0.8940) level before flying above the ascending pitchfork's upper median line (UML). Is traded above the R1 (0.9010) targeting the 0.9045 former higher high.

The pair has retreated a little from the upper median line (UML) trying to capture more upside energy. USD/CHF's corrective phase was ended after printing a major bullish engulfing right on the ascending pitchfork's median line (ML).

Closing above the R1 (0.9010) signals more gains ahead. The R2 (0.9064) and the first warning line (wl1) are seen as potential upside targets. Still, we cannot exclude a minor decline in the short term as the price could want to test and retest the UML before resuming its upwards movement.

Forecast &Tips!

Buy USD/CHF if the price closes the current H4 candle above 0.8995 former high and above the UML. R2 (0.9064) and the R3 (0.9134) could be used as upside targets.

Ralph Shedler,
Especialista em análise na InstaForex
© 2007-2024
Ganhe com as variações das taxas das criptomoedas com a InstaForex.
Baixe o MetaTrader 4 e abra a sua primeira operação.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    PARTICIPE DO CONCURSO
  • Chancy Deposit
    Deposite US $ 3.000 em sua conta e receba $8000 mais!
    Em Março nós sorteamos $8000 na campanha Chancy Deposit!
    Tenha a chance de ganhar, depositando $3,000 em sua conta de negociação. Após cumprir essa condição, você se torna um participante da campanha.
    PARTICIPE DO CONCURSO
  • Trade Wise, Win Device
    Abasteça a sua conta com pelo menos $500, inscreva-se no concurso e tenha a chance de ganhar dispositivos móveis.
    PARTICIPE DO CONCURSO
  • Bônus de 100%
    Sua oportunidade única de receber um bônus de 100% em seu depósito
    RECEBA O BÔNUS
  • Bônus de 55%
    Solicite um bônus de 55% em cada depósito
    RECEBA O BÔNUS
  • Bônus de 30%
    Receba um bônus de 30% toda vez que você fizer um depósito em sua conta
    RECEBA O BÔNUS

Recommended Stories

Não pode falar agora?
Faça sua pergunta no chat.
Widget callback