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Ideas for the FOREX market on Thursday

Jan 16 2019, 09:39 PM (+06) |

USD / CHF - “short” at 4H breakdown of 0.9870

Technical factors that affect this pair:

On the 4H TF, the pair is testing our 200-period moving average. When switching to a higher 1D TF, we see that price is attempting to break the resistance level (0.9880 - 0.9905) but the breakdown might not take place. On the 4H TF, there is a discrepancy (divergence) between the price and the MACD histogram. A signal for opening a short position can be the breakdown of the 9-period moving average from top to bottom, i.e. break out to the downside of 0.9880.

Fundamental factors that can affect the currency pair:

Unfortunately, due to government shutdown, news from the US will be few. Also, we recommend to pay attention to the Swiss Producer Price Index (PPI).

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