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Our free forex signals service trade today is a buy order on the USD/CHF. The pair is looking for an upside amid Fed’s rate hike speculations.

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The USD/CHF pair is trading in the green at 0.9405 at the time of writing. In the short term, it maintains a sideways movement. That’s why we have to wait for confirmation before taking action. However, the bias is bullish, so further growth is favored. Still, the price retreated a little in the short term only because the Dollar Index plunged. As you already know, the Switzerland PPI rose by 0.4%, matching expectations in yesterday’s session. On the other hand, the US PPI and Core PPI came worse than expected, so a temporary drop was natural.

Today, the USD took a hit from the US retail sales data. The Retail Sales indicator registered a 0.3% growth versus 0.4% expected, while the Core Retail Sales rose by only 0.2% less than 0.9% estimates.

Federal Funds Rate 0.50% expected

The USD/CHF pair maintains a bullish bias as the Federal Reserve is expected to hike rates. The FED could raise the Federal Funds Rate by 0.25%, from 0.25% to 0.50%. The FOMC Statement and the FOMC Press Conference could bring sharp movements in either direction.

Technically, the currency pair tries to accumulate more bullish energy below the weekly R1 (0.9410). Also, it challenges the immediate downtrend line, which stands as a trigger line. Therefore, jumping and stabilizing above the resistance levels could activate further growth.

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Free forex signals – Buy USD/CHF at 0.9423

usd/chf free forex signals

Free forex signals entry price and take-profit

Instrument: USD/CHF

Order Type: BUY STOP

Entry price: 0.9423

Stop Loss: 0.9387

TP1: 0.9476

My Risk: 1%

Risk / Reward Ratio: 1:1.5

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