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03.01.202407:01 Forex Analysis & Reviews: Technical Analysis of Intraday Price Movement of USD/CHF Main Currency Pairs, Wednesday, January 03 2024.

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Exchange Rates 03.01.2024 analysis

With the appearance of Wiseman 1 until 3 at the 4 hour chart, the main currency pairs of USD/CHF gives the clue that in the near future, the USD/CHF will appreciate upward, but before there will be a downward correction until the level area of 0.8445-0.8414. If this level successfully hold the downward correction (function as the support level area) very well, then USD/CHF will continue its strength to the level 0.8529 as the main target and level 0.8609 as the next target if the momentum and the volatility is quite supporting today. But, if on the way to those target levels suddenly USD/CHF return to the first bias until breaks below the level 0,8332, then all the strengthening scenario that has been described before will cancel itself.

(Disclaimer)

Arief Makmur
Analytical expert of InstaForex
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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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