LADEEc57

$USDCHF - Trend Change Retest & Reversal

Long
FX_IDC:USDCHF   U.S. Dollar / Swiss Franc
3
$USDCHF Folks, this is BIG. USD FED rate hike announcement coincides with price action retest of bottom bounce of long term sloping trend line. Is this a coincidence ? or is the FED massaging the FX market ? Look at this monthly chart. Price action broke below $97.00 level and quickly rebounded above the trend line, which is likely attributed to a possible trend change direction, after experiencing a drawn out erosion since January highs of $1.02 levels. I foresee a bullish recovery over the next few months for this pair with a possible retest of new highs set at the $1.0315 level. A strong USD ? Imagine where that puts oil prices in USD...$25.00 ?

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.