USDCHF - Bullish Bias
USD - BULLISH
1️⃣ The US economy created the most jobs in 7 months in March, the payrolls report showed, and President Biden unveiled a $2.25 trillion infrastructure plan to boost the economic recovery.
2️⃣ US ISM Services PMI for March is set to jump, following a sharp rise in ISM manufacturing.
CHF - BEARISH
1️⃣ Expectations of a huge US economic rebound and high Treasury yields while the outlook in Europe remains more vulnerable due to rising Covid-19 cases.
2️⃣ Risk-on tone pressured the safe-haven CHF.
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Technical
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We are looking to buy the USDCHF at support + above SMA 50 on the H1 chart.
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Risk to this trade
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Any change in sentiment could turn the pair's direction.
1️⃣ The US economy created the most jobs in 7 months in March, the payrolls report showed, and President Biden unveiled a $2.25 trillion infrastructure plan to boost the economic recovery.
2️⃣ US ISM Services PMI for March is set to jump, following a sharp rise in ISM manufacturing.
CHF - BEARISH
1️⃣ Expectations of a huge US economic rebound and high Treasury yields while the outlook in Europe remains more vulnerable due to rising Covid-19 cases.
2️⃣ Risk-on tone pressured the safe-haven CHF.
=====
Technical
=====
We are looking to buy the USDCHF at support + above SMA 50 on the H1 chart.
=====
Risk to this trade
=====
Any change in sentiment could turn the pair's direction.
Trade active
PENDING ORDER TRIGGEREDTrade closed: stop reached
❌ TRADE HAS HIT STOP LOSS-30 PIPS
CHF advanced despite the risk-on tone.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.