
What happened? It looks like the decline in EUR/CHF to 1…
2019-11-11 • Updated
AUD/CHF today reversed up from the support zone lying between the powerful support level 0.7270 (previous sell target, which has been steadily reversing the price from last August - as can be seen from the daily AUD/CHF chart below) and the lower daily Bollinger Band. The upward reversal from this support zone stopped the earlier minor impulse wave (iii).
Given the deeply oversold reading on the daily Stochastic indicator - AUD/CHF is expected to rise to the next buy target at the next resistance level 0.7390.
What happened? It looks like the decline in EUR/CHF to 1…
AUD/USD has been trying to break higher for an extended period but without any chance. From April until today, all rallies’ attempts have faded as shown on the daily chart.
The US Dollar has been losing value against the Swiss franc for more than a month now. Let's examine where it might be going.
On Thursday, the 2nd of February, the Bank of England will publish its report concerning interest rates and inflation data for the Eurozone. Professionals and investors anticipate that Andrew Bailey’s lead team of policy makers will likely raise interest rates to 4%; the highest in over a decade, for the tenth time in a row.
The first FOMC meeting comes after a buildup of anticipation from traders and investors alike, as the markets await what posture the Fed will take regarding the interest rates; would there be a hike or a cut in interest rates?
Western countries are trying to find other options for oil and gas supplies after a 10th package of sanctions, which will put more pressure on Russian oil and decrease global oil supply. Italy, for example, is in talks with Libya.
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