The upcoming August inflation data may send mixed signals. The 12-month headline inflation rate is expected to rise to 3.6%, causing concerns for the Biden administration. However, core inflation, which excludes food and energy prices, is projected to decrease to 4.3%, aligning with the Federal Reserve's goals. Past price trends influence both figures, so looking at recent data for a more accurate picture is crucial.
USD/CHF: franc plays with the patterns
2019-11-11 • Updated
Recommendation: BUY 0,977 SL 0,9715 TP1 0,993 TP2 1,005.
On the USD/CHF daily chart, the realization of the inverted Shark pattern continues. The growth of quotes above high (0.9765) of the internal bar may lead to the continuation of the rally. In contrast, a breakout of the support located at the low of the internal pattern (0.9725) may lead to the return of the quotes towards lower border of the downward trading channel.
On the USD/CHF hourly chart, a target 78.6% of the Gartley pattern has been hit. Then, there was a rollback. If the high at 0.977 is updated, the Dragon pattern will continue its formation. On the upside, there is a target 161.8% of the Crab pattern,
The odds of a final interest rate hike by the US Federal Reserve (Fed) this year have dropped after US job openings hit their lowest levels since early 2021. This has led to a correction in the US Dollar as traders reduced their bets on further rate hikes.
Here we go again, my friends. It’s time to look critically into the future of what trading opportunities September might have in store for us. As always, it is essential to note that the views expressed here are mine and should not be considered financial advice without proper examination.
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