The greenback was broadly higher on Wednesday and the USDCHF pair was trading 0.35% stronger during the London session, seen attacking the 0.95 mark.
Later in the session, the final revision of the US GDP is due and the fourth quarter economic growth is projected to be revised higher to 2.7% from 2.5% in the second estimate. However, the GDP price index is forecast to stay unchanged at 2.3%. Somewhat positive numbers could support the US dollar.
On the other hand, the US dollar remains vulnerable due to Trump policy and import tariffs and all rallies have been sold-off aggressively this year so far. Therefore, the medium-term trend still appears bearish for the greenback.
The key support stands at 0.9440, where previous lows are seen and the pair managed to defend it in the previous week. The short-term trend could be bullish while above this support. The next buying zone is located near the 0.9400.
Bears will be defending the zone near 0.9540 and if not held, further bullish momentum toward 0.9570 could occur. The MACD oscillator sent a bearish signal on the daily chart, which could be supportive for bears in the next days. In all cases we strongly recommend to have rigorous money and risk management.
Non-Independent Investment Research: Any information which could be construed as investment research has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Further it is not subject to any prohibition on dealing ahead of the dissemination of investment research.
No Representations/Warranties: None of the information contained herein is intended to an shall not constitute any offer (or solicitation of an offer) to buy or sell any currency, product or financial instrument, to make any investment, or to participate in any particular trading strategy. This information is produced only for value added marketing and/or informational purposes and no member of the Goldenburg Group makes any representation or warranty, and assumes no liability, for the accuracy or completeness of the information provided herein. In providing this information, neither the content provider nor any member of the Goldenburg Group has taken into account the investment objectives, special investment goals, financial situation, and specific needs and demands of any recipient and nothing herein is intended as a recommendation for any recipient to invest or divest in a particular manner. No member of the Goldenburg Group assumes any liability for any recipient sustaining a loss from trading in accordance with a perceived recommendation.
Risk Warning: All investments entail risks and may result in both profits and losses. In particular, investments in leveraged products, such as, but not limited to foreign exchange, derivatives and commodities can be very speculative and profits and losses may fluctuate both violently and rapidly. Speculative trading is not suitable for all investors and all recipients should carefully consider their financial situation and consult financial advisor(s) in order to understand the risks involved and ensure the suitability of their situation prior to making any investment, divestment or entering into any transaction. Any mention herein of any risks may not be, and should not be considered to be a comprehensive disclosure or description of such risks. Any expression of opinion is personal to the author and may not necessarily reflect the opinion of any member of the Goldenburg Group and all expressions of opinion are subject to change without notice (neither prior nor subsequent).
Past Performance Is No Indication: This website may make reference to past performance. Past performance is not a reliable indicator of future performance. Indications of past performance displayed on this website will not necessarily be repeated in the future. No representation is being made that any investment will or is likely to achieve profits or losses similar to those achieved in the past or that significant losses will be avoided.
Forward-Looking Statements: Where there are statements contained in this website which are not historical facts, such statements could be data obtained as a result of simulated past performance or future performance based on current expectations, estimates, projections, opinions and beliefs of members of the Goldenburg Group. Such statements involve known and unknown risks, uncertainties and other factors, and undue reliance should not be placed thereon. Additionally, this website may contain forward-looking statements. Actual events or results or actual performance may differ materially from those reflected or contemplated in such forward-looking statements. None of any opinions that may be inferred from the contents of this website is intended to be relied upon as advice or recommendation of any action. They are intended merely as articulations of personal musings and speculations factually.