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23.08.202111:17 ফরেক্স বিশ্লেষণ এবং পর্যালোচনা: USD/CHF analysis and recommendations for August 23, 2021

As already noted in today's previous articles, the US dollar strengthened against all its main competitors at the auction last week. The Swiss franc was no exception, which suffered losses compared to the US dollar 0.19%. Such a slight decrease in the Swiss franc is explained by both currencies from this pair. The "American" was pushed up by the Fed minutes, from which it follows that the US Central Bank is ready to start reducing the volume of asset purchases by the end of this year.

The extremely difficult situation in Afghanistan and the continued spread of the COVID-19 delta strain have posed a difficult task for investors to choose a safe-haven. In principle, the technical picture for USD/CHF is very similar to that observed for the dollar/yen pair. And here again, we have to emphasize that the dollar, the franc, and the Japanese currency, depending on the situation, are safe-haven currencies. Well, let's move on to the consideration of price charts and, using the Friday closing of weekly trading, we will start with this time interval.

Weekly

Exchange Rates 23.08.2021 analysis

There is a form of uncertainty going on here. Let's figure it out. After the circled candle model "Harami," which signaled a possible growth. The upward movement took place. However, it all ended with the pair eventually losing almost all its growth and ended the trading with the formation of a candle with a huge upper shadow and a tiny bullish body. If such a candle appeared at the end of the upward movement, it would be worth classifying it as a strong reversal model of the "Tombstone" candle analysis. In this case, this candle was formed in the middle of the trading range, which means that its strength as a reversal model is several times less. The last candle shows market participants' uncertainty to a greater extent, as evidenced by two equidistant shadows. At the same time, the resistance level was 0.9200. This mark was repeatedly mentioned in previous reviews of USD/CHF. It played the role of strong resistance.

Moreover, the blue Kijun line of the Ichimoku indicator passes right under 0.9200, which also prevented the strengthening of the exchange rate and stopped its movement in the north direction. I also recommend paying attention to the impact on the price of the levels of the Fibonacci tool, stretched for a fall of 0.9900-0.8756. In this case, the resistance level was 38.2 Fibo from the indicated movement. The pair is trading approximately in the middle of the Ichimoku indicator cloud only adds to the uncertainty. Thus, I will indicate the resistances and supports characteristic of the weekly scale. In addition to the mark of 0.9200, the strong resistance of sellers is at the level of 0.9270. Support is observed at 0.9100 and 0.9020.

Daily

Exchange Rates 23.08.2021 analysis

As you can see, after the breakdown of all the indicators used and the confident exit up from the Ichimoku indicator cloud, the sentiment for the pair has changed, and it returns to the cloud limits. On my behalf, I would like to draw attention to the fact that recently the Swiss franc has been increasingly regaining the status of a safe-haven currency. In the current situation, this is extremely important. It is extremely difficult to determine the positioning for USD/CHF. I recommend that novice traders stay out of the market for this instrument for the time being. The rest will wait for the corresponding candle signals on this or smaller timeframes near the listed resistances and (or) supports, after which they will try to open positions in one direction or another. I can't give you more accurate and clear information yet. I can only promise that we will return to this currency pair and try to find interesting and technically sound options for opening positions one of these days.

*এখানে পোস্ট করা মার্কেট বিশ্লেষণ আপনার সচেতনতা বৃদ্ধির জন্য প্রদান করা হয়, ট্রেড করার নির্দেশনা প্রদানের জন্য প্রদান করা হয় না।

বিশ্লেষকদের পরামর্শসমূহের উপকারিতা এখনি গ্রহণ করুন
ট্রেডিং অ্যাকাউন্টে অর্থ জমা করুন
ট্রেডিং অ্যাকাউন্ট খুলুন

ইন্সটাফরেক্স বিশ্লেষণমূলক পর্যালোচনাগুলো আপনাকে মার্কেট প্রবণতা সম্পর্কে পুরোপুরি সচেতন করবে! ইন্সটাফরেক্সের একজন গ্রাহক হওয়ায়, দক্ষ ট্রেডিং এর জন্য আপনাকে অনেক সেবা বিনামূল্যে প্রদান করা হয়।

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