The Bank of England (BoE) has dramatically shifted its economic forecasts. They no longer expect a recession in the UK and have upgraded their growth projections. This year, the BoE predicts GDP growth of +0.25%, a significant improvement from previous expectations. Next year's forecast is even more optimistic, with a projected growth of 0.75%.
CAD/CHF: long-term trade
2019-11-11 • Updated
SELL 0.7495; TP1 0.0400; TP2 0.7250; SL 0.7520
Take a look at the weekly chart of CAD/CHF. A longer-term trade idea may emerge from here. As you can see, the pair formed 2 doji candlesticks near the 100-week MA (0.7580). Other moving averages will provide support at 0.7520 and 0.75. The loss of that level, however, will confirm a top and send the price down to 0.74 and 0.7250 in line with harmonic patterns. This trade will take time.
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