Daily graphic
The USDCHF, as it was discussed in our analysis yesterday, has developed upward trend but has not reached the goal of 0.9277 yet and almost gave up the gains to those who held a sales position.
At this moment, the pair is above 0.9200 and since there was no significant data of Switzerland for its movement was the result of the dollar's movements. But for today, Thursday, it is possible that the Swiss franc to continue gaining ground against the U.S. dollar if the trade balance reports are according to expectations.
It is possible that according to this report, there is a trade surplus country would go from 2.82 billion francs to 2.91 billion Swiss francs. This certainly would be good for the currency so if the reports come above expectations reactivate the demand for the Swiss franc and give us the opportunity to enter U.S. dollar selling.
Graphic 4 Hours
In 4-hour chart we can see that the USD / CHF has been moved from line 6/8 to close line 8/8 Murrey math lines. It can be considered a bounce observing its downtrend channel formed in this time frame.
Also note that around the line 8/8 (solid line) considered a resitencia bottom line is the center line of the downtrend channel, and we believe that the pair may continue to fall from these price levels or after one imposed to 0.9277.
Graphic 1 Hour
The 1 hour chart we can see that the USD / CHF is 0.9247 bouncing where the line 6/8 which is considered an important point of reversal. But after the announcement of the trade balance in Switzerland the couple may experience high volatility which in principle would lead him to try to overcome the prior period highs around 0.9277 and then reversed and continue its downtrend.
Therefore, our recommendation for today we can summarize in two options.
First option: Login selling below 0.9247 with a possible gain to 0.9186 in which case would place our stop loss at 0.9293.
Second option: Expect to spend the ads in the trade balance to enter selling around 0.9277 in which case we would have to place our stop loss around 0.9310
