Ransquawk

USD/CHF quotations look interesting. A few days ago there was a strong price volatility, but quite quickly everything returned to normal and the whole situation did not change much on the chart. What continues to push the dollar upwards is primarily the weakness of other currencies and global risks. Recently, the dollar has been strengthened before the removal of one of these risks in the form of a repetition of the suspension of administration. It was possible to reach a certain compromise in the congress, which puts an end to the negative scenario.

After all, the key issue for the markets is tensions between the US and China. Here, too, progress is visible, i.e. President Trump made it clear that a full agreement is at your fingertips. This is information that also supports the American currency. On the weekly chart we can see that so far there has been no supply response in the important and respected resistance zone last year. Therefore, it seems that the USD/CHF exchange rate may rise at least until the peak of the November last year. Rejection of this level can bring heavy declines due to a high inbalance 96%/4% shorts to longs.

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