USDCHF to 0.885 this week - you?
For Day 33/100 of our challenge, we will dive into USDCHF downside risks for the week ahead:
Technicals:
- Overall downtrend
- Resistance created on previous support 0.91
- Break of 0.90 key level via bearish impulse
- Looking to enter on 0.90 retest / 62% fib
- Weekly target at 0.885
- Trade invalid if 0.905 breaks to the upside
Fundamentals:
🇺🇸 Rate markets not convinced of Fed's proposal of two more rate hikes. Failure to convince this week will weigh on USD
🇨🇭 Expected to raise rates by 25bp this week and remain with hawkish narrative. Other EZ central banks raising rates this week will also help CHF gain some strength potentially.
What's your take?
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Technicals:
- Overall downtrend
- Resistance created on previous support 0.91
- Break of 0.90 key level via bearish impulse
- Looking to enter on 0.90 retest / 62% fib
- Weekly target at 0.885
- Trade invalid if 0.905 breaks to the upside
Fundamentals:
🇺🇸 Rate markets not convinced of Fed's proposal of two more rate hikes. Failure to convince this week will weigh on USD
🇨🇭 Expected to raise rates by 25bp this week and remain with hawkish narrative. Other EZ central banks raising rates this week will also help CHF gain some strength potentially.
What's your take?
Like and follow for daily high-quality trade ideas!
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See you there! 👽🥂
See you there! 👽🥂
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