USDCHF Forecast Feb 10-14

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Recommendations: SHORT positions below 0.9133 with 0.8935 & 0.8900 as  next targets.

Alternative scenario: The upside breakout of 0.9133 will open 0.9190/0.9250 levels.

Description: Outlook in USDCHF is neutral this week with risk to the downside, the daily close above 0.9009 levels last week, printed a temporary support at 0.8935 levels , this scenario could push the pair towards the 0.9080 levels , however, any upside move should be limited by the 0.9133 levels, break of 0.9133 on a daily closing basis will suggest short-term bottoming and open 0.9190/0.9250 levels next. On the downside, sustained trading below the 0.8935 levels is likely to open the  0.8860/0.8800 levels.

Support & Resistance :0.8650 ,0.8800 , 0.8935 ,0.9080 , 0.9133 (Pivot) , 0.9190 , 0.9250 , 0.9335 0.9400

Key data/events which may influence USDCHF  this week:
  • U.S Fed’s Yellen Speech, Tuesday at 15:00 GMT. Yellen will testify on the Semiannual Monetary Policy Report before the House Financial Services Committee, in Washington DC. Market Impact: A hawkish outlook is seen as positive (or bullish) for the USD, while a dovish is seen as negative (or bearish)for the USD.
  • Swiss CPI (MoM). Wednesday at 08:30 GMT.T he Consumer Price Index (CPI) measures the change in the price of goods and services from the perspective of the consumer. It is a key way to measure changes in purchasing trends and inflation. last read – 0.2% ,Forecast -0.3% . Market Impact: A higher than expected reading should be taken as positive/bullish for the CHF, while a lower than expected reading should be taken as negative/bearish for the CHF.
  • U.S Core Retail Sales (MoM).  Thursday at 13:30 GMT. Core Retail Sales measures the change in the total value of sales at the retail level in the U.S., excluding automobiles. It is an important indicator of consumer spending and is also considered as a pace indicator for the U.S. economy. Last read 0.7% ,Forecast 0.1% . Market Impact: A higher than expected reading should be taken as positive/bullish for the USD, while a lower than expected reading should be taken as negative/bearish for the USD.
  • U.S Initial Jobless Claims. Thursday at 13:30 GMT. Initial Jobless Claims measures the number of individuals who filed for unemployment insurance for the first time during the past week. This is the earliest U.S. economic data, but the market impact varies from week to week. Last read 331K, Forecast 330K. Market Impact: A higher than expected reading should be taken as negative/bearish for the USD, while a lower than expected reading should be taken as positive/bullish for the USD.
  • U.S Retail Sales (MoM). Thursday at 13:30. Retail Sales measure the change in the total value of inflation-adjusted sales at the retail level. It is the foremost indicator of consumer spending, which accounts for the majority of overall economic activity.Last read 0.2% ,Forecast 0.3% . Market Impact: A higher than expected reading should be taken as positive/bullish for the USD, while a lower than expected reading should be taken as negative/bearish for the USD.
  • U.S Fed’s Yellen Speech. Thursday at 15:00 GMT. He will testify on the Semiannual Monetary Policy Report before the Senate Banking Committee, in Washington DC. Market Impact: A hawkish outlook is seen as positive (or bullish) for the USD, while a dovish is seen as negative (or bearish)for the USD.
  • U.S Michigan Consumer Sentiment.Friday at 14: 55. The University of Michigan Consumer Sentiment Index rates the relative level of current and future economic conditions. There are two versions of this data released two weeks apart, preliminary and revised. The preliminary data tends to have a greater impact. The reading is compiled from a survey of around 500 consumers. Last read 81.2, Forecast 80.7. Market Impact: A higher than expected reading should be taken as positive/bullish for the USD, while a lower than expected reading should be taken as negative/bearish for the USD.

 

Live Chart Of USDCHF

USDCHF Daily Chart

USDCHF Forecast Feb 10-14

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