USD/CHF news:
👉The USD/CHF pair rose to near 0.8950 on Wednesday in early European trade, snapping a four-day losing streak. The greenback rebounded from an 11-week low as the Federal Reserve’s cautious approach helped limit the greenback’s losses.
👉Meanwhile, a 0.5% rise in the benchmark 10-year Treasury yield also contributed to the greenback’s strength
👉However, weak consumer confidence data from the Conference Board could dampen investor sentiment and put selling pressure on the greenback. Together with other disappointing economic indicators, this has reinforced expectations for two 25 basis point rate cuts by the Fed this year, with the next one expected in July.
Personal opinion:
👉USD/CHF remains bearish in line with the main trend. There will be a correction to the upside due to the rise in US 10-year bond yields but this is an opportunity for sellers to jump in at better prices
Analysis:
👉Based on important Fibonacci levels and trend lines combined with fundamental information to come up with a suitable strategy
Plan:
🔆Setting up the price zone:
👉Buy USD/CHF 0.8960 – 0.8970
❌SL: 0.9010 | ✅TP: 0.8920 – 0.8880– 1.0600
FM wishes you a successful trading day đź’°đź’°đź’°
👉The USD/CHF pair rose to near 0.8950 on Wednesday in early European trade, snapping a four-day losing streak. The greenback rebounded from an 11-week low as the Federal Reserve’s cautious approach helped limit the greenback’s losses.
👉Meanwhile, a 0.5% rise in the benchmark 10-year Treasury yield also contributed to the greenback’s strength
👉However, weak consumer confidence data from the Conference Board could dampen investor sentiment and put selling pressure on the greenback. Together with other disappointing economic indicators, this has reinforced expectations for two 25 basis point rate cuts by the Fed this year, with the next one expected in July.
Personal opinion:
👉USD/CHF remains bearish in line with the main trend. There will be a correction to the upside due to the rise in US 10-year bond yields but this is an opportunity for sellers to jump in at better prices
Analysis:
👉Based on important Fibonacci levels and trend lines combined with fundamental information to come up with a suitable strategy
Plan:
🔆Setting up the price zone:
👉Buy USD/CHF 0.8960 – 0.8970
❌SL: 0.9010 | ✅TP: 0.8920 – 0.8880– 1.0600
FM wishes you a successful trading day đź’°đź’°đź’°
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Channel: signals - knowledge and FOREX comments
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Channel: signals - knowledge and FOREX comments
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.