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USD/CHF Signal - USD Consumer Confidence - 28 July 2020

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Signal Details
Entry Price: 
0.9205
Take Profit: 
0.9160
Stop Loss: 
0.9230
Direction: 
Sell
How we trade
Average: 5 (1 vote)

USD/CHF is trading sideways today prior to USD Consumer Confidence Data. Consumer confidence captures the confidence of individuals in economic activity in the U.S. A positive reading is typically bullish for the USD, and likewise a negative reading is seen as bearish. We anticipate USD downside against the Franc around this event, with targets at the 0.9160 level. Technically price is trading below the 1hr 50EMA and the 0.9210 Pivot.

Disclaimer: The article is written for informative purposes only and it is not financial advice. The author does not have any position in the currency pairs mentioned, and no plans to initiate a position. He wrote the article himself and expressed his own opinions. Readers should not treat any opinion expressed by the author as a specific inducement to make a particular trade or follow a particular strategy, but only as an expression of his opinion. All risks and coasts associated with online trading are your responsibility.