Chapter 29 Will CPI push CADCHF down?
16/04/2023
Summary
CAD CPI expectation leads the market
Fundamental analysis
Fundamentally on this pair of CADCHF, we have high-impact news data CPI Inflation Rate coming on Tuesday market expected the rate will go lower than the previous month and this expected figure if it comes true will make the Canadian Dalles weaker, on the other hand, we do not have any high-impact news in Swissland.
Canada CPI YoY
Previous 5.3%
Expected 4.3%
Canada Core CPI YoY
Previous 4.7%
Expected 4.3%
Technical analysis
In this 4-hour diagram chart, the market price now is 0.66918, we expect the market to push the price up to the previous supply zone at 0.67400 and also touch the 200-moving average creating a fake breakout and then we expect the price to turn down to the previous demand zone at 0.66300 with the 20-moving average point down.
Trading Recommendation
Trading Direction: Short
Entry Price: 0.67338
Target Price: 0.66381
Stop Loss: 0.67807
