❗️Name : USD / CHF
🕒Time Frame : 4hrs Chart
(📈Direction : Long )
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♣️ would you agree with me on this remarkable set up?
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➕ : WHY IS USDCHF GOING UP?
The US Dollar is consolidating gains near omne-month highs against the ASwiss Fran. The comments by SNB Chief, Thomas Jordan, suggesting that the strength of the Swiss Franc will determine the bank’s monetary policy decisions, is acting as a headwind for any significant CHF recovery.
The US Dollar remains buoyed with investors tempering rate-cut bets
In the US, the stronger-than-expected Jobless Claims and Retail Sales data have contributed to cool market hopes of early and aggressive Fed cuts in 2024, which has fuelled the US Dollar across the board.
Beyond that, an array of Federal Reserve policymakers have hit the wires, downplaying expectations of interest rate cuts in the coming months. Atlanta Fed President Raphael Bostic affirmed on Thursday that he does not expect rate cuts until the third quarter of the year.
The Dollar, however, is trading without a clear direction on Friday. A brighter market sentiment, and some profit-taking, as we head into the weekend, might be weighing the Greenback Later today the Michigan Consumer Sentiment Index and a speech by San Francisco Fed President, Mary Daly, might give a fresh push to the USD.
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🏳️Bullish Break
0.87150 Area
Reasons
Major Bullish level / M
Counter + Choch Trend Break
Volume Range Hvn
W / M High Break
Fib Speed Fan
Pattern Break out
🏳️Bearish Reversal
0.91120 Area
Reasons
Prev M / High
Volume Range Hvn
Major Turn level / W
Choch Area
Pattern Target
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💵VIP TRADE
🕒Time Frame : 4hrs Chart
(📈Direction : Long )
------
♣️ would you agree with me on this remarkable set up?
------
➕ : WHY IS USDCHF GOING UP?
The US Dollar is consolidating gains near omne-month highs against the ASwiss Fran. The comments by SNB Chief, Thomas Jordan, suggesting that the strength of the Swiss Franc will determine the bank’s monetary policy decisions, is acting as a headwind for any significant CHF recovery.
The US Dollar remains buoyed with investors tempering rate-cut bets
In the US, the stronger-than-expected Jobless Claims and Retail Sales data have contributed to cool market hopes of early and aggressive Fed cuts in 2024, which has fuelled the US Dollar across the board.
Beyond that, an array of Federal Reserve policymakers have hit the wires, downplaying expectations of interest rate cuts in the coming months. Atlanta Fed President Raphael Bostic affirmed on Thursday that he does not expect rate cuts until the third quarter of the year.
The Dollar, however, is trading without a clear direction on Friday. A brighter market sentiment, and some profit-taking, as we head into the weekend, might be weighing the Greenback Later today the Michigan Consumer Sentiment Index and a speech by San Francisco Fed President, Mary Daly, might give a fresh push to the USD.
——————————
🏳️Bullish Break
0.87150 Area
Reasons
Major Bullish level / M
Counter + Choch Trend Break
Volume Range Hvn
W / M High Break
Fib Speed Fan
Pattern Break out
🏳️Bearish Reversal
0.91120 Area
Reasons
Prev M / High
Volume Range Hvn
Major Turn level / W
Choch Area
Pattern Target
——————————
💵VIP TRADE
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