The US Dollar has been remarkably sluggish for the past few weeks despite being within a distinct Demand zone. My expectation of a springing rebound off the demand zone has not exactly played out yet, however, the zone remains unbroken.
USD/CHF: franc saw a “bat”
2019-11-11 • Updated
BUY 0.9665 SL 0.961 TP1 0.973 TP2 0.9775 TP3 0.98
BUY 0.949 SL 0.9435 TP1 0.9555 TP2 0.964 TP3 0.973
On the daily chart, USD/CHF keeps forming the “Bat” pattern with a target of 88.6%. For now, bulls and bears are fighting for 78.6% of the wave XA. If bears manage to conquer it, the decline will continue. On the other hand, rebound from the current support will increase the possibility of a pullback.
On H1, USD/CHF there may be a formation of a “Widening wedge”. To do that bulls will need to return the pair to resistance at 0.9665.
XBRUSD and XTIUSD might experience massive volatility due to the Chinese GDP release on Tuesday, October 18.
Historically, the stability of the franc is caused by the solid Swiss economy and a highly developed banking system…
Between October 2022, and January 2023, the Japanese Yen outperformed several other currency pairs, resulting in over a thousand pips move on pairs like EURJPY, GBPJPY, and 2000-plus...
The European Central Bank (ECB) raised its interest rates by 0.5% to 3%, as planned, to combat inflation, despite some investors'...
Oil prices fell to a three-month low following the release of US inflation data which was in line with expectations. The annual inflation rate of 6%...