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Lambert: A buy signal has been triggered in USDCHF
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Clive Lambert from FuturesTechs has been following the USDCHF currency pair since the beginning of the week and notes that a buy signal on the trade has finally been triggered.
The currency pair broke above CHF .8950 signaling a buying opportunity for investors. This was the “high between two lows” according to Clive. In May and March the currency pair dipped to CHF .8700.
On Wednesday, it was announced the Swiss economy grew by 0.5 percent during the first quarter. Investors did not expect this figure to impact the currency’s current trading levels; however, the figure is slightly below analysts estimates of 0.6 percent. An increase of 0.6 would have been the largest growth during any period in almost a year.
Clive is looking to buy between CHF .8970 and CHF .8990. His targets for the trade are CHF .9100 and CHF .9200, a stop can be placed at .8930.
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