USD-CHF forex analysis for the week of May 30 to 4
by admin ·
The last week, we wrote, “So how to stand on the USD-CHF this week? First the daily MACD is bearish and under these conditions, it is best not to focus top up. We have a support area 0.9080/70 and only the foolhardy will play back above 0.91 “And finally, parity remained below 0.9180 to finish the week at 0.9067.
The sharp rise of the Eurodollar has led to declining parity with passage Friday night in 0.91. U.S. statistics mean, if there were poor for many. Now, again the future evolution of the parity will depend on the behavior of the EUR-CHF happens to remain far above 1.20. But who could crack, despite the support of the Swiss National Bank and the USD-CHF result in his downfall.
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 for 9120/40. Now, many resistances are then back to 0.92 and it seems almost certain that these points as 0.9140/50 and 0.9180 will sellers come to reposition itself in a retracement. As a result, buyers place their stoploss 0.9070 in between 9060 and above 0.9055.
On the downside, and as long as they stay under 0.9120/40, it is likely that passage under 0.9070, 0.9020 and leads us towards a retest of 0.90. Similarly, the points will be 0.8980/70 support before the final plunge. For now, this is what we will focus with still some fear that by the end of the week, a rise of parity before the French election that could have an impact on the Eurodollar.
Therefore, a return on 0.9020/10 could be an ideal area to relocate to the purchase.
Our tips for the week: Sellers under 0.9120/40 and 0.9020 for buyer on the lower ranks
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
Statistics that can influence the currency pair
May 1 Labour Day
U.S. EPA on May 2
May 2 German unemployment
May 4 U.S. unemployment
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