USDCHF - Bearish price action ✅
Hello traders!
‼️ This is my perspective on USDCHF.
Technical analysis: As we can see price changed into bearish market structure from 4H timeframe perspective and started to form new lower lows and lower highs. Price rejected from OTE 0.705 level of FIBONACCI and filled partially the imbalance. I expect bearish price action upcoming week as we have a huge imbalance lower that has to be filled.
Fundamental analysis: On Wednesday 22nd of March we have news events on USD. Federal Reserve of USA planned to raise interest rate by 0.25%, also we have FOMC Press Conference the same day. On Thursday 23rd of March we have news events on CHF. As well SNB planned to raise interest rate by 0,5% supported by a Press Conference after the display of the results. The raise of interest rate means strength of currency, but due to the fact that SNB could raise by a bigger % this could support our bearish price action.
Like, comment and subscribe to be in touch with my content!
‼️ This is my perspective on USDCHF.
Technical analysis: As we can see price changed into bearish market structure from 4H timeframe perspective and started to form new lower lows and lower highs. Price rejected from OTE 0.705 level of FIBONACCI and filled partially the imbalance. I expect bearish price action upcoming week as we have a huge imbalance lower that has to be filled.
Fundamental analysis: On Wednesday 22nd of March we have news events on USD. Federal Reserve of USA planned to raise interest rate by 0.25%, also we have FOMC Press Conference the same day. On Thursday 23rd of March we have news events on CHF. As well SNB planned to raise interest rate by 0,5% supported by a Press Conference after the display of the results. The raise of interest rate means strength of currency, but due to the fact that SNB could raise by a bigger % this could support our bearish price action.
Like, comment and subscribe to be in touch with my content!
❗️Check out my telegram channel with premium content.
t.me/Snick3rSD1
🌶 SpiceProp has 5% discount for any challenge.
🎁 Discount Code - SNICK5
💵 NPBFX broker - great conditions for trading - nmaffen.com/c1mp99nemznd
t.me/Snick3rSD1
🌶 SpiceProp has 5% discount for any challenge.
🎁 Discount Code - SNICK5
💵 NPBFX broker - great conditions for trading - nmaffen.com/c1mp99nemznd
Related publications
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.