empty
 
 
16.02.2018 08:00 AM
Fundamental Analysis of USD/CHF for February 16, 2018

USDCHF has been quite impulsive with the bearish pressure recently which led to a break below 0.9250 area with a daily close which is also the lowest price area for years. USD having mixed economic reports is struggling with the gains against CHF which is expected to push the price much lower in the coming days. Today, USD Building Permits report is going to be published which is expected to have a slight decrease to 1.29M from the previous figure of 1.30M, Housing Starts is expected to increase to 1.23M from the previous figure of 1.19M, Import Prices is expected to increase to 0.6% from the previous value of 0.1%, and Prelim UOM Consumer Sentiment report is expected to have a slight decrease to 95.4 from the previous figure of 95.7. On the other hand, CHF has no impactful economic report to support its impulsive gains resulting to the severe weakness of USD in comparison. As of the current scenario, a certain correction is expected in the pair before CHF proceeds with its gains further in the coming days.

Now let us look at the technical view. The price is currently residing below the 0.9250 price area from where a certain correction is expected towards the 0.9250 before proceeding lower towards the 0.90-0.91 support area in the coming days. As the price remains below 0.9450, the bearish bias is expected to continue further.

This image is no longer relevant

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback