Current trend
Yesterday US dollar strengthened against Swiss franc in view of the tax reform bill passed by both Houses of the US Congress. The only thing left now is the signature of President Trump. USD was also supported by strong sales data in the secondary housing market. The indicator increased by 5.6% while the economists expected growth by no more than 0.9%.
The growth of Swiss trading balance proficiency slowed down in November. It was announced after today’s release of the trading balance data. Still, it had almost no impact on the rate of franc.
The main event of today will be the release of annual data on US GDP for Q3 (15:30 GMT+2). In view of recent growth of retail sales it is likely the data will be reconsidered and increased giving the dollar considerable support. The market is expected to be highly volatile.
Support and resistance
In the H4 chart the instrument has been corrected to the middle line of Bollinger Bands. MACD histogram is in the negative zone preserving a weak signal for the opening of short positions.
Support levels: 0.9830, 0.9780, 0.9750.
Resistance levels: 0.9860, 0.9885, 0.9900, 0.9925, 0.9940, 0.9970.
Trading tips
Buy positions may be opened from the level of 0.9870 with target at 0.9940 and stop-loss at 0.9830.
Short positions may be opened from the level of 0.9820 with target at 0.9780 and stop-loss at 0.9850.
The period of implementation is 1-3 days.
US Dollar vs Swiss Franc
Buy Sell Spread
0.98793 0.98765 28
Scenario
Timeframe Day's Range
Recommendations BUY STOP
Entry Point 0.9870
Take Profit 0.9940
Stop Loss 0.9830
Support levels 0.9750, 0.9780, 0.9830, 0.9860, 0.9885, 0.9900, 0.9925, 0.9940, 0.9970
Alternative scenario
Recommendations SELL STOP
Entry Point 0.9820
Take Profit 0.9780
Stop Loss 0.9850
Support levels 0.9750, 0.9780, 0.9830, 0.9860, 0.9885, 0.9900, 0.9925, 0.9940, 0.9970
Yesterday US dollar strengthened against Swiss franc in view of the tax reform bill passed by both Houses of the US Congress. The only thing left now is the signature of President Trump. USD was also supported by strong sales data in the secondary housing market. The indicator increased by 5.6% while the economists expected growth by no more than 0.9%.
The growth of Swiss trading balance proficiency slowed down in November. It was announced after today’s release of the trading balance data. Still, it had almost no impact on the rate of franc.
The main event of today will be the release of annual data on US GDP for Q3 (15:30 GMT+2). In view of recent growth of retail sales it is likely the data will be reconsidered and increased giving the dollar considerable support. The market is expected to be highly volatile.
Support and resistance
In the H4 chart the instrument has been corrected to the middle line of Bollinger Bands. MACD histogram is in the negative zone preserving a weak signal for the opening of short positions.
Support levels: 0.9830, 0.9780, 0.9750.
Resistance levels: 0.9860, 0.9885, 0.9900, 0.9925, 0.9940, 0.9970.
Trading tips
Buy positions may be opened from the level of 0.9870 with target at 0.9940 and stop-loss at 0.9830.
Short positions may be opened from the level of 0.9820 with target at 0.9780 and stop-loss at 0.9850.
The period of implementation is 1-3 days.
US Dollar vs Swiss Franc
Buy Sell Spread
0.98793 0.98765 28
Scenario
Timeframe Day's Range
Recommendations BUY STOP
Entry Point 0.9870
Take Profit 0.9940
Stop Loss 0.9830
Support levels 0.9750, 0.9780, 0.9830, 0.9860, 0.9885, 0.9900, 0.9925, 0.9940, 0.9970
Alternative scenario
Recommendations SELL STOP
Entry Point 0.9820
Take Profit 0.9780
Stop Loss 0.9850
Support levels 0.9750, 0.9780, 0.9830, 0.9860, 0.9885, 0.9900, 0.9925, 0.9940, 0.9970