Chapter 29 USDCHF Establish the uptrend again
22 /11/2022
Summary
The U.S. dollar gained strength upon the FOMC meeting Minutes
Fundamental analysis
We have news coming today and tomorrow and after tomorrow with all expectations that support the US dollar's strength And on top of them is the FOMC meeting minutes
U.S. New Home Sales MoM
Previous -10.9%
Expectation -4.6%
U.S. IHS Markit Services PMI
Previous 46.6
Expectation 48
Technical analysis
We can see in the 4H chart diagram that the market starts to establish a new uptrend by showing the higher low and the higher high formation with the 20 moving average pointing up and the price is above it We expect the price to pull back at 0.95500 To create And you lower high And from that point we expect the market to push up until the previous supply zone
At 0.968 00
