Free Forex Signals and Forecast: Buy USD/CHF – 03 September 2021
Forex Trading Signals

Free Forex Signals and Forecast: Buy USD/CHF – 03 September 2021

Our free forex signals service today looks at the USD/CHF and we have the entry, stop and take profits levels for you.

The USD/CHF pair rallied during Asian trading hours on Friday. However, in today’s session, the pair traded in a very narrow range after testing the high above 0.9150 in the previous session.

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At the time of writing, USD / CHF is trading at 0.9144, up 0.04% on the day.

US Treasury yields decline to 1.28%, down 0.68%. With the US Dollar Index (DXY) moving in tandem with the benchmark’s yield, the pair is trading below 92.50, limiting the dollar’s potential gain against the Swiss franc.

The number of initial claims for unemployment benefits fell to the lowest level since March 2020 in the week ending August 28. The market consensus was 345,000, but the actual value was 340,000. Additionally, US companies cut 15,723 jobs in August, the fewest since June 1997. These data, however, did not help to appreciate the value of the dollar.

However, a general weakness in the US dollar led to a rise in the Swiss franc despite mixed economic data.

The Swiss economy grew 1.8% year-on-year in June, below market expectations by 2%, while retail sales fell 2.6% year-on-year in July, the first decline in five months.

The August inflation rate was 0.9%, more than double the 0.8% forecast by the market.

Market sentiment will be determined by data on wages and unemployment in the US NFP report.

USD/CHF free forex signals

USD/CHF free forex signals

Instrument: USD/CHF
Order Type: BUY STOP
Entry price: 0.9196
Stop Loss: 0.9097
TP1: 0.9343

Our Risk Setting: 1%
Risk / Reward Ratio: 1:1.5

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Saqib Iqbal

Saqib Iqbal

Saqib Iqbal is a market analyst, prop fund trader and mentor, serving the industry with his analysis and educational content since 2011. The author has great exposure to different financial markets and institutions. He's well-known for his day trading reviews and multiple timeframe analysis.