USD-CHF forex analysis for the week of May 7 to 11

The last week, we wrote, “. 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 that these points as 0.9140/50 and 0.9180 will sellers come to reposition itself “and finally, parity has consolidated above 0.9080/70 and to return end the week on 0.9180.

The mixed U.S. data did not dampen the appetite for the dollar strengthened in this by the uncertainties before the French presidential election and especially the vagueness of what could be the composition of the new legislative majority in Greece. Indeed, the risk is ending up on the evening of May 6 with a patchwork of smaller parties making anti-austerity fear the worst about the future of Greece in the euro area. Thus, the traders do not want to take risks and have turned to the dollar currency.

So how to stand on the USD-CHF this week? First the daily MACD is again bullish. Nevertheless, the question that will arise is whether we will continue to do so or if it is only a fit of temper.

Obviously, we’ll know very quickly because the Greeks are known results on Sunday evening and pushed up should be quick, if no majority is found.

So if 0.9180 and rose up, the next goals are to 0.9220/40 then 0.9280/9320. On these levels, sellers should still have their say and come to replace. Failing that, 0.9380 could be the next goal, again with more vendors. Buyers for their part, put their stoploss between 0.9145 and 40.

On the downside, the 0.9180/90 resistance zone precludes a return to 0.9120 and then 0.9080/70 is possible. The sellers put their stoploss above 0.9195 to 0.9205 and. But it will be necessary to remain light.

Our tips for the week: Buyer above 0.9170/80 0.9220/80 and 0.9320 for. Sellers in 0.9280/9320.

We buy 0.9170/80 for 9220/40 and 0.9280/9320
It sells for 0.9280/9320 0.9220/9180
We sell 0.9180/90 for 9120 and 9080

Statistics that can influence the currency pair

Monday, 7 May Bank Holliday in Great Britain.

Related posts:

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  2. USD-CHF forex analysis for the week of March 19 to 23
  3. USD-CHF forex analysis for the week of January 23 to 27
  4. USD Forex Analysis- CHF for the week of December 12 to 16
  5. USD-CHF forex analysis for the week of February 13 to 17

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