UsdChf Midterm Long
The symbol, which had declined due to U.S. recession fears, saw a recovery process triggered by rate cut signals from the Fed. However, this process was interrupted by market expectations of a 50 basis point cut at the first meeting, leading to another decline. Currently, the expectation of a 50 basis point cut is gradually decreasing to 25 basis points. With this adjustment, we may see a recovery up to the 50% Fibonacci level.
On the weekly chart, a hammer candlestick pattern has formed, technically supporting the bullish outlook. The fact that the previous price rise reversed at the 38.2% level also indicates a price movement consistent with technical analysis.
On the weekly chart, a hammer candlestick pattern has formed, technically supporting the bullish outlook. The fact that the previous price rise reversed at the 38.2% level also indicates a price movement consistent with technical analysis.
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.
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.