Our free forex signals service trade today is a sell order on the USD/CHF pair. The pair seems done with the upside for today.
The USD/CHF pair is trading in the red around 0.9230 at the time of writing. The pair slipped lower, which is natural after its strong rally. It may test/retest the immediate support levels before jumping higher. DXY continues to grow. That’s why the currency pair could jump higher as well.
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As you already know, the geopolitical tensions between Russia and Ukraine have escalated today. This situation boosted the Dollar Index. Anything could happen these days. The volatility is high, so you have to be careful. The Ukraine invasion by the Russian troops really shook the markets.
US Prelim GDP 7.0%
Fundamentally, the USD received a helping hand from the US Prelim GDP, which rose by 7.0%, matching expectations. On the other hand, the Unemployment Claims indicator dropped from 249K to 232K last week, below 233K expected. Also, the Prelim GDP Price Index registered a 7.1% growth versus 6.9% expected.
Technically, the USD/CHF pair drops after reaching the down trendline. Still, the retreat could be only a temporary one. A valid breakout through this dynamic resistance could announce an upside continuation.
3 Free Forex Every Week – Full Technical Analysis
Free forex signals – Buy USD/CHF at 0.9250
Free forex signals entry price and takes profit
Instrument: USD/CHF
Order Type: BUY STOP
Entry price: 0.9250
Stop Loss: 0.9212
TP1: 0.9311
My Risk: 1%
Risk / Reward Ratio: 1:1.57
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