Forex Sinyal For USD/CHF: Holiday Trade and Close Resistance Evaluation

    Forex Sinyal For USD/CHF: Holiday Trade and Close Resistance Evaluation   USD/CHF broke out of the highs set at the end of last week, putting the Forex pair within speaking distance of the July resistance.  

• As of today, USD/CHF has approached the relatively high 0,98300 mark, but fell just short of the flirty highs shown last week at 0,98600 on Thursday and Friday.
• While this morning's trade has certainly recorded a lower depth, today's price action will be overshadowed by a banking holiday that will limit the amount of transactions in the US.
• However, considering the amount of volatility in the USD/CHF currency pair and global Forex, traders shouldn't be too comfortable lately.

The Swiss Franc is considered a safe haven against tense emotions, but even it cannot trade in a vacuum.  

Forex Sinyal For USD/CHF: Holiday Trade and Close Resistance Evaluation

 

• USD/CHF traded near the 0.98600 level on July 12 and 14, and a high near around 0,98885 on the 14th of that month.
• Even if traders believe this is high enough for USD/CHF to climb, they should look at the quarterly charts and note that in mid-June USD/CHF is actually trading above 1,000000.
• The peaks in June touched the peaks of May.

  The fact that USD/CHF is still below the high level of July, which is only momentarily traded, and is well below the highs of May and June of this year, has been intriguing for investors.   The US Labor Day holiday may cause a momentary recession in USD/CHF, but volatility is likely to reappear in the near term as traders collectively return from the last summer holidays tomorrow. Resistance levels near 0,98400 to 0,98500 should be watched closely by traders in the short term.    

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