Tickmill's Investing Diva, USDCHF Daily Outlook 04-08-20
USDCHF Daily Outlook 04-08-20 - On Monday we found out that U.S. manufacturing operating conditions improved for the first time since February, and that the Eurozone manufacturing economy returned to growth in July. Meanwhile, the Swiss consumer price index (CPI) fell by 0.2% in July 2020 m/m to 101.2 points
Welcome to the Tickmill update, I’m Kiana Danial the founder of the Invest Diva movement. Make sure to subscribe to the Tickmill YouTube channel and support us by liking and sharing this video with your forex trading friends.
On Tuesday we’ll be eyeing New Zealand’s employment change and Australia’s home loans after RBA’s rate decision earlier during Tuesday’s Asian session.
Today I’m looking at the USD/CHF paid which found support exactly at the 0.90 psychological level I identified last week and bounced back up. However, its gains are now capped by the lower band of the Ichimoku cloud on the 4-hour chart. While this could be a temporary pullback, we need a confirmation of a break above the Ichimoku cloud in order to call this the new uptrend.Do you think the USD/CHF pair will fall back to 0.90 before forming a new uptrend? Head over to the comments section and let me know.
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Disclaimer: The material provided is for information purposes only and should not be considered as investment advice. The views, information, or opinions expressed in the text belong solely to the author, and not to the author’s employer, organization, committee or other group or individual or company.
Past performance is not indicative of future results.
High Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% and 75% of retail investor accounts lose money when trading CFDs with Tickmill UK Ltd and Tickmill Europe Ltd respectively. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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