Online Forex broker
2019-11-11 • Updated
Recommendation:
SELL 0.9640
SL 0.9695
TP1 0.9540 TP2 0.9445 TP3 0.9380
On the daily chart, bears managed to stop USD/CHF at 0.9735 (38.2% of the medium-term rising wave) and return the pair inside the long-term downtrend. They will keep controlling the market if the pair slide below the support at 0.9630 and push it to 88.6% of the “Double top”.
On H1, if USD/CHF renews September low, it will trigger AB=CD pattern for the second time. Its target at 261.8% lies at 0.9445.
The pandemic continues hurting economic activity in China, the war in Ukraine is hitting the entire European economy, and the Fed's efforts to control inflation threaten to trigger a recession.
Great Britain released retail sales data on May 20, 9:00 GMT+3. The reading outperformed expectations greatly (+1.4% actual vs. -0.3% forecast).
Japan's inflation is set to reach 2% in April's reading, for the first time since 2015. But what about the weaker Yen?!
What happened? US stocks ended sharply higher on Thursday, May 27, after a 7-week losing streak…
Next week, we expect the BOC rate statement, the OPEC+ meeting, and the Nonfarm payrolls release. Let's look at the opportunities in detail!
Amazon announced the company is going to make a 1 – 20 stock split on June 3 after the trading session close (23:30 GMT+3).
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