Today I would like to share you an oppurtunity to go long on USDCHF here are a few reason why we have the edge on the market :
This is a good oppurtunity to buy the US dollar both from the technical stanpoint as well as more of a macro standpoint :
TECHNICAL : we are in a consolidating/ expanding pattern I waited to see it bounce off to the upper side before I take the trade very likely to go higher to 1.00000 and potentially break further.
Watch out for that level it's a very strong one with a previous resistence combined with a psychological level It's a dangerious level to go long further
However economic forecasts are positive on the US dollar , unemployent is forecasted lower wich is obviously good for the US , more people have jobs and then more likely to spend this could lead why stock in the SP500 were this week.
And this would make it more likely to raise the intrest rates and that could lead to an appreceation of the US dollar in the medium term.