The SNB has decided to cut the interest rate by 25bps from 1.5% to 1.25%.
This immediately sent the Swiss Franc lower and thus, sent the USDCHF higher.
However, this is likely a short term move. Hedge funds are still net short from higher levels since March 2024.
It will take a long time and more policy meetings for the USDCHF to start a long term uptrend.
Short term, the USDCHF may go up slightly more, and then by sometime next week, should continue on its downward trajectory once again.
My algorithms still suggest net short on USDCHF.
This immediately sent the Swiss Franc lower and thus, sent the USDCHF higher.
However, this is likely a short term move. Hedge funds are still net short from higher levels since March 2024.
It will take a long time and more policy meetings for the USDCHF to start a long term uptrend.
Short term, the USDCHF may go up slightly more, and then by sometime next week, should continue on its downward trajectory once again.
My algorithms still suggest net short on USDCHF.
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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.
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.