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 Fed’s hawkish stance on tapering. The USD/CHF pair remains under pressure of around 0.9250, disregarding the status quo of the Swiss National Bank. Despite a general decline in the US dollar, this caused the spot price to drop 0.22% that day to 0.9235. The USD/CHF pair primarily remained affected by the FOMC, Greenback weakness after Evergrande news that triggered risk-on sentiment and the SNB’s rate decision. The Federal Open Market Committee kept interest rates at 0.00% to 0.25% per annum in line with consensus. However, the authority indicated that interest rates may rise sooner than expected. Additionally, the market was looking for clues about the beginning of the “tapering” process. During the traditional press conference after the Fed’s monetary decision was announced, Chairman Jerome Powell said that the “tapering” process could be completed in mid-2022, adopting a hawkish stance in contrast to other meetings. However, the date of the commencement of tapering was not stated. Get FREE Forex Signals Now! This Thursday, the Swiss National Bank (SNB) decided to leave the monetary policy parameters unchanged when assessing monetary policy for the September quarter. As expected, the SNB left its key interest rate at -0.75% and its three-month Libor target range unchanged at -1.25% to -0.25%. Technically, the USD/CHF pair remains below the key moving averages, heading towards the 0.9200 local lows. We are looking for a buying opportunity if the price manages to stay above the 0.9250 area and hits the 0.9278 mark, which is a level above the key resistance line. If it triggers, we expect the price to rally towards the 0.9300 level and above. The hawkish stance of the Fed may reverse the Greenback losses. -Are you looking for the best MT5 Brokers? Check our detailed guide- Free forex signals – Buy USD/CHF at 0.9278 Instrument: USD/CHF Order Type: BUY STOP Entry price: 0.9278 Stop Loss: 0.9212 TP1: 0.9377 Our Risk Setting: 1% Risk / Reward Ratio: 1:1.5 Looking to trade forex now? Invest at eToro! Trade Forex Now! 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. 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. View All Post By Saqib Iqbal Forex Trading Signals share Read Next AUD/USD Forecast: Aussie Clinging Near 0.73 amid Risk-on, Upbeat Data Saqib Iqbal 7 months 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 Fed's hawkish stance on tapering. The USD/CHF pair remains under pressure of around 0.9250, disregarding the status quo of the Swiss National Bank. Despite a general decline in the US dollar, this caused the spot price to drop 0.22% that day to 0.9235. The USD/CHF pair primarily remained affected by the FOMC, Greenback weakness after Evergrande news that triggered risk-on sentiment and the SNB's rate decision. The Federal Open Market Committee kept interest rates at… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
