empty
 
 
01.11.2018 04:32 PM
Fundamental Analysis of USD/CHF for November 1, 2018

USD/CHF has been quite impressive with recent bullish gains. As a result, the price is holding above 1.00 area but currently moving lower with impulsive momentum. USD has been holding the upper hand over CHF. USD is picking up steam ahead of NFP. However, today's CHF gains indicates volatility and counter trend momentum for the coming days.

CHF has been quite positive amid the economic reports published today. The upbeat data is assumed as the main counter-momentum injector currently. Today Switzerland's SECO Consumer Climate report was published with an increase to -6 from the previous figure of -7 which was expected to decrease to -8, CPI increased to 0.2% as expected from the previous value of 0.1%, and Manufacturing PMI made a slight decrease to 57.4 from the previous figure of 59.7 which was expected to be at 58.6. Moreover, tomorrow Retail Sales report is going to be published which is expected to decrease to -0.2% from the previous value of 0.4%.

On the USD side, ahead of NFP tomorrow, USD has been quite mixed with the recently published economic reports. Today US ISM Manufacturing PMI report was published with a decrease to 57.7 from the previous figure of 59.8 which was expected to be at 59.0. Tomorrow, US Average Hourly Earnings report is expected to decrease to 0.2% from the previous value of 0.3%, Non-Farm Employment Change to increase to 193k from the previous figure of 134k, and Unemployment Rate could remain unchanged at 3.7%.

Meanhwile, CHF gains are still quite strong. Better-than-expected Retail Sales result may lead to further bearish gains over USD whereas USD confused the market sentiment due to mixed forecasts of reports. Unclear market sentiment leads to certain gains on the CHF side today which can only be recovered if US economic employment reports reveal strong readings.

Now let us look at the technical view. The price has been quite impulsive which engulfed the recent bullish daily candle. There are certain chances of a counter-move to Bearish Divergence, which is forming at the resistance area. Nevertheless, to get strong confirmation of further bearish pressure the price should close below 0.9980 area with a daily close. As the price remains above 0.9980 area with a daily close, there are still chances of bullish pressure to continue further.

SUPPORT: 0.9980, 0.9850

RESISTANCE: 1.0050, 1.0200

BIAS: BULLISH

MOMENTUM: NON-VOLATILE and IMPULSIVE

This image is no longer relevant

انسٹافاریکس کے ساتھ کرپٹو کرنسی کی معاملاتی تبدیلیوں سے کمائیں۔
میٹا ٹریڈر 4 ڈاؤن لوڈ کریں اور اپنی پہلی ٹریڈ کھولیں۔
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    مقابلہ میں شامل ہوں
  • چانسی ڈیپازٹ
    اپنے اکاؤنٹ میں 3000 ڈالر جمع کروائیں اور حاصل کریں$6000 مزید!
    ہم دسمبر قرعہ اندازی کرتے ہیں $6000چانسی ڈیپازٹ نامی مقابلہ کے تحت
    اپنے اکاؤنٹ میں 3000 ڈالر جمع کروانے پر موقع حاصل کریں - اس شرط پر پورا اُترتے ہوئے اس مقابلہ میں شرکت کریں
    مقابلہ میں شامل ہوں
  • ٹریڈ وائز، ون ڈیوائس
    کم از کم 500 ڈالر کے ساتھ اپنے اکاؤنٹ کو ٹاپ اپ کریں، مقابلے کے لیے سائن اپ کریں، اور موبائل ڈیوائسز جیتنے کا موقع حاصل کریں۔
    مقابلہ میں شامل ہوں
  • 100 فیصد بونس
    اپنے ڈپازٹ پر 100 فیصد بونس حاصل کرنے کا آپ کا منفرد موقع
    بونس حاصل کریں
  • 55 فیصد بونس
    اپنے ہر ڈپازٹ پر 55 فیصد بونس کے لیے درخواست دیں
    بونس حاصل کریں
  • 30 فیصد بونس
    ہر بار جب آپ اپنا اکاؤنٹ ٹاپ اپ کریں تو 30 فیصد بونس حاصل کریں
    بونس حاصل کریں

تجویز کردہ مضامین

ابھی فوری بات نہیں کرسکتے ؟
اپنا سوال پوچھیں بذریعہ چیٹ.
Widget callback