USDCHF: Sell the Rally as Market Eyes Last Bottom

teconlab Updated   
FX:USDCHF   U.S. Dollar / Swiss Franc
Dear Traders,

Technical Analysis:

USDCHF is positioned for a potential downward move this week, though a short-term bounce higher is also possible. The daily technical analysis shows an oscillator reading of 1, signaling the pair is overbought and could see a selloff. However, we may first get a quick spike up to 0.9113 as stops are triggered.

Just hold on and even with some hedge positions keep your account alive until the drop starts and then close your hedge and wait for TP of sell orders.

Fundamental Analysis:

The US economy has been slowing down in recent months, as evidenced by the decline in the PMI readings. This is due to a number of factors, including rising interest rates, inflation, and the war in Ukraine.
The US dollar has been strengthening in recent months, as investors have sought safety in the face of global economic uncertainty. This has made it more expensive for US companies to export goods and services, and could weigh on economic growth.
The Swiss franc is another safe-haven currency, and it has also strengthened against the US dollar in recent months. This means that USD/CHF could continue to decline in the near term.
Trade active
Trade active:
Get ready for 0.9113. At this rate we will get a Sell order
Trade active:
Sell order is taken at 0.9113
The higher price movement we are seeing compared to expected prediction could be part of the normal market behavior, signaling a reversal of the trend and preparing for a bearish turn.
First Take Profit is hit.
Lets go for the second Take Profit


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