Gold prices rose on Monday as the US Dollar weakened amidst speculation about potential Federal Reserve rate cuts starting in June. This weakened Dollar was partly due to improved risk sentiment pushing US Treasury yields lower. Despite facing challenges from declining yields, gold prices recovered to nearly $2,170 per troy ounce, driven by the Dollar's weakness. Federal Reserve Chair...
USD/CHF is capped by resistance
2019-11-11 • Updated
Trade idea
SELL 1.0040; TP 1.0010; SL 1.0055
USD/CHF may test lower levels this week as long as it keeps trading below the resistance at 1.01 (last week’s highs). The first downside target lies at the parity level (1.00). If this support is lost, we’ll see a deeper selloff. A doji with a long upper wick was formed on D1 on Friday — a negative sign. On H4, we see a lower high and the decline below 50-period MA.
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