Antony_NPBFX
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USD/CHF: the instrument shows corrective growth 06.09.2021
Good afternoon, dear forum visitors!
NPBFX offers the latest release of analytics on USD/CHF for a better understanding of the current market situation and more efficient trading.
Current trend
Today during the Asian session, the USD/CHF pair actively grows, retesting the level of 0.9150 a breakout.
A noticeable pressure on USD is exerted by the report on the US labor market for August, published last Friday. US Nonfarm Payrolls were only 235K, while the consolidated market forecast assumed an increase of 750K. At the same time, the corresponding July indicator was revised upwards from 943K to 1,053K.
On Monday, Trading activity is expected to be low as US markets are closed for Labor Day. Nevertheless, investors have enough macroeconomic statistics at their disposal for further analysis. Important data from Switzerland will appear only on Tuesday when the August unemployment rate is released and the dynamics of foreign exchange reserves.
Support and resistance
On the daily chart, Bollinger bands are moving flat. The price range narrows slightly from above, remaining spacious enough for the current level of market activity. The MACD indicator stretches along the zero line, forming ambiguous trading signals. Stochastic shows a similar picture, developing ambiguous dynamics approximately in the center of its working area.
It is better to wait to clarify signals from technical indicators to open new trading positions for the instrument.
Resistance levels: 0.9166, 0.9200, 0.9241, 0.9273.
Support levels: 0.9126, 0.9100, 0.9073, 0.9036.
Trading tips
Long positions may be opened after the breakout of 0.9166 with the target at 0.9241. Stop loss – 0.9126. Implementation period: 2-3 days.
Short positions may be opened after the breakdown of 0.9126 with the target at 0.9073. Stop loss – 0.9160.
Use more opportunities of the NPBFX analytical portal: E-book
If you just recently started to be interested in trading on FOREX and would like to deepen your knowledge, an electronic Beginner's Guide to FOREX Trading will be an excellent helper for you here. The book consists of 5 chapters and reflects fundamental concepts of the foreign exchange market to start successful trading. From the main chapters of the E-book you can learn about the concepts and history of FOREX, currencies and trend lines, technical indicators, types of orders, trading on news, psychology of trading, risk management and much more.
You can read a Beginner's guide to FOREX Trading online or download it free of charge from the NPBFX analytical portal in the "Education" section. In order to get unlimited access to the E-book and other useful instruments on the portal, you need to register on the NPBFX website.
If you have any questions about trading instruments, you can always ask an analyst in the online chat on the portal and get a free consultation of an experienced specialist.
Use the current recommendations of analysts on USD/CHF and trade efficiently with NPBFX.
Good afternoon, dear forum visitors!
NPBFX offers the latest release of analytics on USD/CHF for a better understanding of the current market situation and more efficient trading.
Current trend
Today during the Asian session, the USD/CHF pair actively grows, retesting the level of 0.9150 a breakout.
A noticeable pressure on USD is exerted by the report on the US labor market for August, published last Friday. US Nonfarm Payrolls were only 235K, while the consolidated market forecast assumed an increase of 750K. At the same time, the corresponding July indicator was revised upwards from 943K to 1,053K.
On Monday, Trading activity is expected to be low as US markets are closed for Labor Day. Nevertheless, investors have enough macroeconomic statistics at their disposal for further analysis. Important data from Switzerland will appear only on Tuesday when the August unemployment rate is released and the dynamics of foreign exchange reserves.
Support and resistance
On the daily chart, Bollinger bands are moving flat. The price range narrows slightly from above, remaining spacious enough for the current level of market activity. The MACD indicator stretches along the zero line, forming ambiguous trading signals. Stochastic shows a similar picture, developing ambiguous dynamics approximately in the center of its working area.
It is better to wait to clarify signals from technical indicators to open new trading positions for the instrument.
Resistance levels: 0.9166, 0.9200, 0.9241, 0.9273.
Support levels: 0.9126, 0.9100, 0.9073, 0.9036.
Trading tips
Long positions may be opened after the breakout of 0.9166 with the target at 0.9241. Stop loss – 0.9126. Implementation period: 2-3 days.
Short positions may be opened after the breakdown of 0.9126 with the target at 0.9073. Stop loss – 0.9160.
Use more opportunities of the NPBFX analytical portal: E-book
If you just recently started to be interested in trading on FOREX and would like to deepen your knowledge, an electronic Beginner's Guide to FOREX Trading will be an excellent helper for you here. The book consists of 5 chapters and reflects fundamental concepts of the foreign exchange market to start successful trading. From the main chapters of the E-book you can learn about the concepts and history of FOREX, currencies and trend lines, technical indicators, types of orders, trading on news, psychology of trading, risk management and much more.
You can read a Beginner's guide to FOREX Trading online or download it free of charge from the NPBFX analytical portal in the "Education" section. In order to get unlimited access to the E-book and other useful instruments on the portal, you need to register on the NPBFX website.
If you have any questions about trading instruments, you can always ask an analyst in the online chat on the portal and get a free consultation of an experienced specialist.
Use the current recommendations of analysts on USD/CHF and trade efficiently with NPBFX.