Swiss Jobless Rate Steady at 17-1/2-Year Low
The Swiss unemployment rate came in at a non-seasonally adjusted 2.1 percent in September 2019, remaining at the lowest level since November 2001.
The number of unemployed people decreased by 454 from the previous month, or 0.5 percent, to 99,098 in September. Compared to the same month a year earlier, unemployment fell by 7,488, or 7 percent. Meanwhile, the number of jobseekers rose by 1,574, or 0.9 percent, to 171,423; but dropped by 7,076 year-on-year, or 4 percent.
Youth unemployment rate, measuring job-seekers between 15 and 24 years old, edged down to 2.4 percent in September from a seven-month high of 2.5 percent in August, with the number of young unemployed decreasing by 490, or 3.7 percent, to 12,652. Compared to September 2018, it fell by 1,072, or 7.8 percent.
When adjusted for seasonal factors, the unemployment rate came in at 2.3 percent in September, the same as in August.
The USD / CHF pair traded with remarkable negativity yesterday to test the support of the main ascending channel that is currently in the form of 0.9925, accompanied by the emergence of a positive cross signal through Stochastic now, which is a positive incentive waiting to help push the pair higher again.
From here, we expect the pair to resume its main ascending course in the coming sessions. The main targets start with breaching 1.0005 to confirm the opening of the way toward 1.0165 in the near term, noting that breaking 0.9925 will press the price to start a short term bearish correction.
---------- Post added at 11:10 PM ---------- Previous post was at 03:11 AM ----------
The USD / CHF pair rebounded upwards after testing the support of the main ascending channel, approaching the moving SMA 50 which is instantaneous resistance at 0.9970, as the price needs to breach this level to release from the negative pressure and facilitate the continuation of the main bullish trend.
Therefore, we continue to favor the bullish trend over the coming period provided that the daily closing is above 0.9930, noting that the main targets are expected to start at 1.0005 and extend to 1.0165 after breaching the previous level.
The trading range for today is among the key support at 0.9930 and resistance at 1.0010
We find that the pair during last week's trading and on the four-hour frame was able to form new support levels represented at 1.0975 levels, which whenever the pair went back to it, I expect with the opening of the market that the continuation of the pair trading above the support levels will naturally complete the uptrend of the pair and target 1.1050 levels as a target However, with the breach of the support levels of 1.0975 and the formation of a four hour candlestick below, the pair will be heading in the opposite direction and targeting 1.0900 as the first target from that close before reaching the level. T. 1.0850 as a second target for the better then wait until four hours shut candle completely and then enter into deals, and God bless my helper and good luck to all
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