Strong and positive growth, first week of September

✍️ NOVA hello everyone, Let's comment on USD/CHF price next week from 4-8/9/2023

🔥 World situation:
The Swiss Franc is losing value as the USD gains support from an improvement in US business activity and bond yields. Despite a busy week in the US economic docket, the financial markets remain calm. The Nonfarm Payrolls figures for August were a mixed bag, with 187K jobs added to the US economy, surpassing expectations of 177K. Surprisingly, this did not boost the Greenback as much as anticipated due to a rise in the Unemployment rate by 3.8% YoY, exceeding forecasts of 3.5%. The weakness of the US Dollar can be attributed to investors speculating that monetary conditions will not be tightened by September and reducing bets on any action by November from the US central bank - Federal Reserve (Fed).

🔥 Identify:
Continuing the strong upward trend in September, the H4 frame still supports the rising trendline, hoping to reach a high mark in the past few months.

🔥 Technically:
Based on the resistance and support areas of the USD/CHF price according to the H4 frame, NOVA identifies the important key areas as follows:

Resistance:0,89200; 0,90000
Support : 0,87500; 0,89500; 0,62500


🔥 NOTE:
Note: Nova wishes traders to manage their capital well
- take the number of lots that match your capital
- Takeprofit equal to 4-6% of capital account
- Stoplose equal to 2-3% of capital account
- The winner is the one who sticks with the market the longest