Long

BIG UPCOMING MOVE FOR UCHF!!

Updated

Here I have USD/CHF on the Daily Chart!

I am waiting for price to Retrace to the .87577 - .87379 area for a potential Buy Entry!!

If price finds support here, I will be looking to place a SL @ .86786 with a TP @ the .91913 - .93426 range!

Note

Price on a Decline!

Interested to see what is said during the FOMC meeting!!

Note

Little is unchanged after the FOMC meeting!

Feds need to see more progress toward the 2% target before considering cutting rates meaning ... RATES HIGHER FOR LONGER!
*Possibly even until JUNE!

Price is still creeping closer to our .8757 - .8737 range! Be On The Lookout!

Trade active

Price came down into our range early this morning!

Buy Entry @ .8750!

Note

LAST CHANCE!! USD is getting ready for the BIG MOVE!

tradingview.com/news/reuters.com,2024:newsml_L2N3F7125:0-this-could-be-the-start-of-another-big-usd-rally/

Note

Unemployment Claims (USD) - 201k (16k Less than Forecasted)!
*Bullish read for DXY!

Trade active

Second Buy Entry @ .8802

After the mixed results of Manufacturing and Services PMI, Price had made a big Bullish push, breaking the Falling Resistance. Once price made an attempt to break down lower and couldn't, I decided to take another Buy Entry!

Note

Beautiful Bullish push into the overhead Resistance Zone to create New Highs this morning!!

Note

By the End of Last Week, Price was unable to break the overhead Resistance Zone!

-CHF has CPI released on Monday with a Bullish undertone to the forecast and then USD has a BUSY news week so BE VIGILANT!

Note

Price is coming back into my Entry Zone!!

Looking for a reaction in the .8757 - .8737 range again!

Trade active

Buy Entry @ .8765!

Beautiful reaction off the Zone and touch of the 200 EMA on 4Hr Chart!

Note

Price is right back up at the Resistance Zone!

Note

Swiss National Bank CUT RATES!!!
&
Fed decided to HOLD RATES!

Fundamentally this explains why we are seeing this massive push to the upside to our Range Target!

Note

This week for news will be HEAVY on USD:
-New Home Sales (Mon), Durable Goods/Consumer Confidence (Tue), FOMC Waller Speaks (Wed), Final GDP/Unemployment/Pending Home Sales (Thu) & Core PCE Price Index/Powell Speaks (Fri)
*Most Forecasted to have BULLISH readings

So we could potentially see Price either push up to the Range Target OR could see Price position itself for another Retracement!

Note

We are seeing a HUGE push to the upside!!

I am anticipating price to possibly create a High in the overhead Resistance Zone @ .9080 - .9120!

-If price does descend before finishing to our Range Target, we could potentially look for another Buy Entry!!

Novi_Fibonacci

Novi_FIbonacci

Telegram - t.me/+l3fTcsZu91ZiZDkx

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