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Today’s free forex signals service is a buy on the USD/CHF as we expect the market to observe the Dollar’s upside in the wake of risk-off sentiment.

Dollar versus Swiss Franc remains subdued ahead of Tuesday’s European session. The USD/CHF pair declined following a pullback after testing monthly highs above 0.9300 over the night. The USD/CHF pair is currently trading at 0.9274, down 0.01% on the day.

Concerns over China’s second-largest real estate developer, Evergrande’s default, and the risk of shock waves spreading outside China drive returns on the US 10-year benchmark to 1.31%, up 0.26%.

A measure of the dollar’s value against six major currencies, the US Dollar Index (DXY), crossed into moderately negative territory at 93.20, losing 0.02%.

FOMC policy meeting begins Wednesday, which remains a concern for investors. It’s expected that the Fed will begin to taper its monthly asset purchases soon.

The S&P 500 futures are trading at 4,357.33, down 1.70 percent. When the willingness to take risks declines, the Swiss franc retains several reasons for its attractiveness as a safe haven. The recent influx of foreign direct investment into Swiss stocks, on the other hand, has contributed to the strong performance of the Swiss currency.

In addition, the Swiss government has lowered its forecast for economic growth this year by 3.2%. Specifically, the State Secretariat for Economic Affairs (SECO) attributed the decrease in growth forecasts to a slower recovery in the global economy, supply chain bottlenecks, and accelerated response to the Coronavirus.

Traders are waiting for the Swiss trade balance, the US current account, and building permits to find fresh impetus for trading.

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Free forex signals – Buy USD/CHF at 0.9287

USD/CHF free forex signals

Instrument: USD/CHF
Order Type: BUY STOP
Entry price: 0.9287
Stop Loss: 0.9257
TP1: 0.9332

Our Risk Setting: 1%
Risk / Reward Ratio: 1:1.54

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