USDCHF forecast bullish despite rising Swiss manufacturing activity
Technical Analysis Summary USD/CHF: Buy
| Indicator | Value | Signal |
| MACD | Buy | |
| Donchian Channel | Neutral | |
| MA(200) | Buy | |
| Fractals | Neutral | |
| Parabolic SAR | Buy | |
| On Balance Volume | Neutral |
Chart Analysis
The USDCHF technical analysis of the price chart on 1-hour timeframe shows USDCHF: H1 is retracing higher above the 200-period moving average MA(200) which is rising itself. We believe the bullish movement will continue after the price breaches above the upper bound of the Donchian channel at 0.9141. A level above this can be used as an entry point for placing a pending order to buy. The stop loss can be placed below 0.9078. After placing the order, the stop loss is to be moved to the next fractal low indicator, following Parabolic signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop loss level without reaching the order, we recommend cancelling the order: the market has undergone internal changes which were not taken into account.
Fundamental Analysis of -
Switzerland’s factory activity expansion continued in February. Will the USDCHF decline?
Switzerland’s factory activity expansion continued in February: the Manufacturing Purchasing Managers' Index (PMI) for Switzerland rose to 61.3 for February from 59.4 for January,, when an increase to 60.0 was forecast. This is bearish for USDCHF. However, technical setup is bullish for USDCHF.