Antony_NPBFX
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USD/CHF: the US dollar is losing ground gained yesterday 25.02.2022
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
During the Asian session, the USD/CHF pair is actively declining, correcting after yesterday's sharp growth, which led to a renewal of local highs of February 10.
The reason for the sharp rise in the US currency was the escalation of the conflict in Ukraine, as investors try to avoid risk and invest their capital in shelter assets. Russian President Vladimir Putin authorized a special military operation in the Donbas, which immediately resonated in the markets – investors began to abandon risky assets in favor of shelter assets massively. Strong macroeconomic statistics from the US provided additional support for the US currency on Thursday. Thus, annual data on GDP dynamics for the fourth quarter of 2021 reflected the expected economic growth of 7.0%. At the same time, the GDP price index accelerated from 7.0% to 7.2% over the same period, ahead of forecasts of 6.9%.
On Friday, traders focus on a block of macroeconomic statistics from the US on the dynamics of orders for durable goods and personal income and expenses of American households for January.
Support and resistance
On the daily chart, Bollinger bands reverse into a horizontal plane. The price range consolidated within a fairly wide range, fully consistent with the observed trading dynamics. MACD reversed upwards, forming a new buy signal (the histogram is above the signal line). Stochastic demonstrates similar dynamics, signaling further development of the upward dynamics in the nearest time intervals.
Resistance levels: 0.9250, 0.9276, 0.9300, 0.9341.
Support levels: 0.9220, 0.9200, 0.9175, 0.9157.
Trading tips
Short positions may be opened after the breakdown of 0.9220 with the target at 0.9157. Stop loss – 0.9250. Implementation period: 1–2 days.
Long positions may be opened after the rebound from 0.9220 and the breakout of 0.9250 with the target at 0.9300. Stop loss – 0.9220.
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
During the Asian session, the USD/CHF pair is actively declining, correcting after yesterday's sharp growth, which led to a renewal of local highs of February 10.
The reason for the sharp rise in the US currency was the escalation of the conflict in Ukraine, as investors try to avoid risk and invest their capital in shelter assets. Russian President Vladimir Putin authorized a special military operation in the Donbas, which immediately resonated in the markets – investors began to abandon risky assets in favor of shelter assets massively. Strong macroeconomic statistics from the US provided additional support for the US currency on Thursday. Thus, annual data on GDP dynamics for the fourth quarter of 2021 reflected the expected economic growth of 7.0%. At the same time, the GDP price index accelerated from 7.0% to 7.2% over the same period, ahead of forecasts of 6.9%.
On Friday, traders focus on a block of macroeconomic statistics from the US on the dynamics of orders for durable goods and personal income and expenses of American households for January.
Support and resistance
On the daily chart, Bollinger bands reverse into a horizontal plane. The price range consolidated within a fairly wide range, fully consistent with the observed trading dynamics. MACD reversed upwards, forming a new buy signal (the histogram is above the signal line). Stochastic demonstrates similar dynamics, signaling further development of the upward dynamics in the nearest time intervals.
Resistance levels: 0.9250, 0.9276, 0.9300, 0.9341.
Support levels: 0.9220, 0.9200, 0.9175, 0.9157.
Trading tips
Short positions may be opened after the breakdown of 0.9220 with the target at 0.9157. Stop loss – 0.9250. Implementation period: 1–2 days.
Long positions may be opened after the rebound from 0.9220 and the breakout of 0.9250 with the target at 0.9300. Stop loss – 0.9220.
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.