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#usdchf#forex

Potential bearish reversalUSDCHF is rising toward an overlap resistance and could potentially fall to a support level. Alternatively, if the price breaks above the pivot, it could continue to rise to the next resistance level Pivot: 0.9098 Support: 0.8903 Resistance: 0.9221 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Short
by ICmarkets
Bouncing off 38.2%USDCHF is falling toward a support level and could potentially bounce off a pivot that is close to the 38.2% Fibonacci retracement and rise toward the multi-swing high resistance Alternatively, if price breaks below the pivot, it could continue to fall to another overlap support level Pivot: 0.8811 Support: 0.8781 Resistance: 0.8849 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Long
by ICmarkets
USDCHF Crosses the Trendline break down for ShortUSDCHF Crosses the Trendline and creates a new bottom at the 38% Fibonacci line So now the uptrend has been broken. We can consider entering an order #1 Sell: 0.87816 fibo zone 23.6% Stop loss: 0.88676 Take profit: 0.85769 at fibo 61.8% #2 Sell: 0.88186 Stop loss: 0.88186 Take profit: 0.85781 at fibo 61.8% #3 Sell: 0.88349 SL: 0.88688 TP: 0.85775 #4 Close 1/2 Order when price to Fibo 38.2% and move SL to Entry price # Good look to you
Short
by FxiZLife
USD/CHF Breaks Resistance Amid Soft Swiss CPI DataIn the European session on Tuesday, the USD strengthened against the CHF, surpassing the key resistance level of 0.8800. This upward movement followed the release of a disappointing Swiss Consumer Price Index (CPI) report for January. Despite this bullish momentum, the USD/CHF faces several significant barriers ahead. Firstly, it encounters resistance at the 61.8% Fibonacci level from the last swing point. Additionally, it navigates within the 50% and 61.8% Fibonacci retracement area from the major swing high, alongside the challenge of surpassing the daily moving average. Furthermore, the Stochastic indicator signals an overbought condition, suggesting a potential reversal. Turning to economic data, the Swiss CPI for January grew at a slower-than-expected pace of 0.2%, contrasting with the consensus forecast of 0.6%. December witnessed stagnant price pressures, with annual inflation decelerating significantly to 1.3% from the previous reading of 1.7%. This persistent trend of operating below the 2% inflation threshold could prompt the Swiss National Bank (SNB) to reconsider its restrictive monetary policy stance. Expectations for the headline CPI indicate steady growth of 0.2% on a monthly basis, while the core CPI, excluding volatile food and oil prices, is projected to rise by 0.3%. Annual headline inflation is anticipated to decelerate to 2.9% from December's 3.4%, while core CPI is expected to increase slightly slower at 3.7% compared to the previous 3.9%. The prospect of decelerating price pressures may pave the way for the Federal Reserve (Fed) to contemplate rate cuts during the upcoming May policy meeting, aligning with investor expectations. However, Fed policymakers have emphasized the importance of sustained progress in declining inflation before considering interest rate adjustments. In light of these developments, traders are monitoring the USD/CHF around the 0.8800 area, anticipating a potential reversal. As both technical and fundamental factors come into play, market participants remain vigilant for further cues to guide their trading decisions. Our Idea: Below 0.8950 look for further downside with 0.8600 & 0.8400 as targets.
Short
by FOREXN1
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