T he last week, we wrote, “we will sell slightly below 0.9220/40 as the daily MACD is bullish with stoploss above 0.9245 for a return of 0.90 with targets 0.9020/40 as” And finally, the USD- CHF for the second straight week failed to 0.9220 and ended the week at 0.9087.
The sharp rise of the Eurodollar has led to declining parity with passage Friday night in 0.91. U.S. statistics mean there have been important. Now, again the future evolution of the parity will depend somewhat on the results and prognostic of the French election.
So how to stand on the USD-CHF this week? First the daily MACD is bearish and in these circumstances it is best not to focus too much on the rise. We have a support area 0.9080/70 and only the foolhardy will play back above 0.91. Now, many resistances are then back to 0.92 and it seems almost certain points as 0.9140/50 and 0.9180 will sellers come to reposition itself in a retracement. As a result, buyers place their stoploss below 0.9070 and above 0.9050.
On the downside 0.9120/40 and below, it is likely that passage under 0.9070, 0.9020 and leads us towards a retest of 0.8980/70 as always with 0.90 as the ultimate support before the plunge.
However, be careful because for 3 months now, we remain in a sort of range between 0.90 and 0.9220/40. This consolidation may still continue, but for how long? Also, we know we’ll have to get out and it is possible that the outcome of the presidential election in France and the emergence of a new policy triggered a new trend. So be careful as 0.90 and above 0.9220/40.
Our tips for the week: Sellers under 0.9120/40 and 0.90 for buyer above 0.9150 to 0.9180 and 0.9220/40 for
We buy 0.9150 for 9180 and 9220/40
It sells for 0.9120/40 0.9020/8980
We buy 0.9010/0.8970 for 9080 and 9140
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