Short positions after breaking the support level 1,01561 down.
The US economy is still demonstrating good results. Good Nonfarm payrolls and retail sales statistics for March as well as the US GDP for the first quarter, which surpassed the forecast (the fact was released on the level +3,2% - the forecast was +2%), provided the strengthening of the US currency against conservative Switzerland’s franc. Even good inflation data in Switzerland (PPI was released at the level +0,3%; CPI was published +0,5%) didn’t help its national currency to gain ground. USD/CHF has been rising the whole April.
The pair reached the next level 1,0200. BUT now on 1D TF the pair broke the first trend line, which is heading up. The pair is moving to its short 9-EMA.
MACD line started reversing back. It might soon break the signal line down. We are waiting when the pair breaks the Fibo level 23,6% down (1,01561). In this case we expect that the pair will reach the next support line 1,01061 and after that 1,00657.
Results: it is possible to open short positions after breaking the support level 1,01561 down.
The pair reached the next level 1,0200. BUT now on 1D TF the pair broke the first trend line, which is heading up. The pair is moving to its short 9-EMA.
MACD line started reversing back. It might soon break the signal line down. We are waiting when the pair breaks the Fibo level 23,6% down (1,01561). In this case we expect that the pair will reach the next support line 1,01061 and after that 1,00657.
Results: it is possible to open short positions after breaking the support level 1,01561 down.