Chapter 8 Is USDCHF going down?
13/02/2023
Summary
CPI inflation rates lead the market.
Fundamental analysis
The fundamental view on this pair USDCHF shows that today Switzerland's inflation rate has increased to 3.3% moMore high expectations high expectation Which this result Normally Will lead the Central Bank of Switzerland to increase the interest rate to keep the inflation down On the other hand tomorrow we have inflation rate release news in The United States with expectation lower than the previous month at 6.2%.
Switzerland CPI YoY
Previous 2.8%
Actual 3.3%
USA CPI YoY
Previous 6.5%
Expected 6.2%
Technical analysis
In this 4-hour diagram chart, the Market price now is 0.92233 Coming from a significant downtrend on the daily chart we expect the price to keep this downtrend ongoing and keep creating lower highs and lower lows With the 20 moving averages keep pointing down.
Trading Recommendation
Trading Direction: Short
Entry Price: 0.92051
Target Price: 0.90855
Stop Loss: 0.92638
