USDCHF Daily Outlook – There’s a growing unrest and philosophical war brewing between economists and public health officials in the US about which route is the better one to take… get the world back to work, or keep working on social distancing and risk economic depression. Meanwhile, the UK has gone into full coronavirus lockdown with the public barred from leaving home for nonessential reasons…

Yes, the Coronavirus remains the leading headline across the globe.

On Monday the FOMC announced three new credit facilities along with plans to purchase commercial mortgage-backed securities to combat the economic shock generate by the coronavirus.

Today I’m looking at the USD/CHF pair which broke above the daily Ichimoku cloud on Friday and it’s now on its pullback mode as we normally expect from this Ichimoku signal.
The pair remains within the normal medium-term range despite the severe volatility and appears to be on its way up to the upper band of the range at 1.02 as we discussed last week…
Of course, this move forward may not be smooth.

Do you think the USD/CHF pair will reach the upper band of the range this month? Head over to the comments section and let me know!

Disclaimer: The material provided is for information purposes only and should not be considered as investment advice. The views, information, or opinions expressed in the text belong solely to the author, and not to the author’s employer, organization, committee or other group or individual or company.

High Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% and 70% of retail investor accounts lose money when trading CFDs with Tickmill UK Ltd and Tickmill Europe Ltd respectively. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Share this post: