Daily Graphic
In 1-day charts note that during yesterday's session the Swiss franc remained overshadowed by the escalation of the U.S. dollar, giving an approximately 87 pips from the opening price and the closing of the session.
Not even the good jobs data could boost the franc, employment level rose to 4.17 million, which not only exceeded the forecast of 4.14 million but also made a good improvement to be had 4.15 million last quarter.
So for Friday weekend Turns Bullish outlook since with this escalation resistance exceeded the dollar stood at 0.9277 is bounded by the line 4/8 (blue line). So now the focus will be on 0.9399 because at that point the line is 5/8 (green line) which becomes the top line of its trading range, having in this case to support the line 4/8 where we place our stop loss.
Graphic 4 Hours
In the 4 hours chart however we note that the USD / CHF would be impaired its uptrend because after passing the line 8/8 (solid line) considered last resistance area, besides having formed a trendline , which could swing today the pair within the triangle formed by these two lines having as 0.9277 support area.
Because of concerns about a military strike against Syria have disappeared, which has allowed the dollar to a relief rally in markets, leaving market participants to discount completely the good employment figures francs. For today, not even the KOF economic barometer report was 1.36 over 1.34 expected allowed to recover some of yesterday's losses.
However it is possible that premiums remaining negotiation time the Swiss franc can be recovered with a possible retraction to 0.9247 in order to continue its uptrend.
Graphic 1 Hour
Finally the 1 hour chart shows the USD / CHF with lateral movements and a slight bearish bias that could eventually take up 0.9277donde line is 8/8, as well may take to try to test a new high at 0.9338 where line locates the maximum overshoot +2 / 8.
Therefore, and because there are only a few hours and negotiation for today do not recommend any input as the risk benefit justifies not taking a position in any direction.
If you have any questions or suggestions, please contact:
Email:antonio.inga@analytics.instaforex.com
