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Our free forex signals service trade today is a sell order on the USD/CHF. The pair is looking for an upside after a mild correction.

The USD/CHF pair is strongly bullish in the short term as the Dollar Index has managed to jump towards new highs. The currency pair could extend its growth as long as the Dollar Index rallies. There is a strong positive correlation between the DXY and the USD/CHF pair. At the time of writing, the pair is trading at a 0.9318 level. Technically, the price action signaled potential upside continuation.

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Fundamentally, the USD was boosted by the upbeat US inflation data yesterday. The CPI and the Core CPI came in line with expectations. The greenback rallied versus its rivals only because the Federal Reserve is expected to end its pandemic QE and hike rates in the March monetary policy meeting.

US Prelim UoM Consumer Sentiment

In the short term, the USD needs more support from the US economy to retain its appreciation. As a result, the US Prelim UoM Consumer Sentiment is expected to be 61.4 points versus 62.8 in the previous reporting period. In addition, the Prelim UoM Inflation Expectations will be released as well.

From the technical point of view, the USD/CHF pair could resume its growth after taking out the resistance represented by 0.9306.

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Free forex signals – Buy USD/CHF at 0.9323

usd/chf free forex signals

Free forex signals entry price and takes profit

Instrument: USD/CHF

Order Type: BUY STOP

Entry price: 0.9323

Stop Loss: 0.9284

TP1: 0.9381

My Risk: 1%

Risk / Reward Ratio: 1:1.5

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