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Daily chart
Monetary policy contributes to the prosperity of the economy to ensure price stability in the medium and long term. This makes it possible to make resources more efficient use from the point of view, and also promotes investment and thus, long-term growth. Price stability also helps to avoid the undesirable effects of distribution.
Among many things that was what the SNB Chairman Thomas Jordan said but had no effect on the movements of the currency as this barely moved just over 20 pips between the opening and closing of the market and the likelihood that in the next few days to gain ground against the dollar in our opinion remains latent.
4-hour chart
However, the 4-hour chart shows that for such a scenario to be fulfilled, the USD/CHF pair should enter into a sales area, which is below the green line 5/8, which is to be the top line of your trading range. By contrast, the second scenario would be a U-turn likely from these levels to which, however, the price would close at least two complete candles above 0.9155.
1-hour chart
Finally, on the 1-hour chart the pair is currently testing the top line of the trend channel. While a break of these levels could be indicating a possible uptrend, as noted in the commentary than 4-hour would have expected to exceed 0.9155 level, where the line 3/8 (green line) is located. Otherwise, it only would result in a widening of the lateral channel tendency, which is more likely to occur today.
If you have any questions or suggestions, please contact:
Email:antonio.inga@analytics.instaforex.com
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